How to Buy and Sell at the Same Time
Should you buy a new home before selling your current one? Here’s how to know which option is best for you.
Today I’m going to answer a common question we get: “How can I buy and sell a house at the same time?”
There are a few ways you can go about this. First, you can buy your new home and then sell your current one. You can also sell your current home and then buy a new one. Finally, you can do a back-to-back closing. This involves getting your current home under contract, getting your new home under contract, and coordinating the closings so that you can close on your sale on one day, then close on the purchase the next.
If you’re able to, I would recommend that you purchase your next home without having to make it contingent on the sale of your first home. It will make your offer much stronger, which is very important in this competitive market.
"The best option is to purchase a new home without making it contingent on the sale of your current one."
However, if it’s not in the cards for you financially, the next best option is to sell your home first before buying the new one.
To help with the process, I would recommend finding a relative to move in with for a short period of time, or another short-term rental (like an Airbnb) for a month or two.
Those are just a few different options for you. If you have any questions about your specific situation and how we can help you flesh things out, don’t hesitate to give me a call or send me an email. I would love to hear from you.