Selling + Buying

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Selling and buying within the same time frame can seem complicated and overwhelming, but it is a very common situation. When determining the route that is best for you and your family, you need to look at both finances and level of convenience and weigh your options.

  • If you are in a position where you do not need proceeds from a sale to use towards the down payment on a new purchase, and are able to qualify for both mortgages, you can take your time on a house hunt and wait to list your current home until after you're under contract on or have purchased your new home. Timing wise, we are usually able to line up both transactions so you don’t end up having any overlap on mortgage payments, but you do need to qualify for both on paper and have to have independent down payment funds available. You can also look into if keeping your current home as an investment property would be a good financial decision for you.

If you’re planning on using money from your sale towards your new down payment, here are a few options you have:

  • You can put your current home on the market and as soon as you get an offer that works for you, we can go find your new home. You can also usually request a post-occupancy agreement from a buyer that allows you to stay in your home up to 60-days post-closing to give you a little more time to find a new place that you love. You will close on your current home prior to the new sale, so you are able to use sale proceeds towards your down payment, and only need to qualify for the new mortgage. This is the simplest of choices, but can put pressure on you to find the right house in a short amount of time.

  • You can find the right home to buy and make an offer contingent on the sale of your existing home. This can seem ideal, but many sellers in this market don't want to accept a contingent offer, so negotiation position is weak. You may also risk losing the new home if something goes wrong with your sale or if your sellers aren't willing to be flexible on time frame. If you are able to get a contingent offer accepted, you need to have your current home ready to list super quick, usually within a few days, so it is best to do some prep work ahead of time so you can move fast when you find the right place. You will close on your current home prior to the new sale, so you are able to use sale proceeds towards your down payment, and only need to qualify for the new mortgage.

  • You can sell your current home and move into temporary housing or stay with family/friends if you don't find the right home while your current home is under contract. This gives you the best negotiation position, but can be inconvenient. You will have all sale proceeds in hand and available whenever you find a new place.

  • You can work with a lender to see if you can secure a "bridge loan," which would allow you to buy with convenience and without pressure. However, many of these specialty programs come with significantly higher interest rates or additional fees, and you may have months with multiple mortgage payments if your current home doesn't sell quickly.


If you know anyone who may be looking to sell their current home and upgrade, downsize, or just get a change of scenery, please send them my way, I'd be happy to help them understand all their different options!