SMART GUIDE TO BUYING & SELLING AT THE
SAME TIME
Why You Might Need to Buy & Sell Together
If you already own a home and are planning your next move, timing both transactions often comes down to finances. Lenders evaluate your full financial picture, including your current mortgage. In many cases, approval for your next home may depend on selling your existing property first. Additionally, many homeowners rely on equity from their current home to fund the down payment on their next purchase.
Which Comes First: Listing or Offering?
There’s no one-size-fits-all answer. Some homeowners choose to sell first for certainty, while others try to secure their next home first. Each path comes with different strategies, timelines, and levels of risk.
Strategy 1: List Your Home First
Starting with your sale provides clarity. While marketing your home, it’s important to communicate your need for flexibility—whether that’s a later closing date or extra time to secure your next property. When negotiating offers, you can include terms that allow you time to find and secure your replacement home.
What Happens If You Accept an Offer First?
Once your home is under contract, your position as a buyer becomes stronger. Sellers are more likely to accept your offer knowing your current home is already in escrow. However, timelines may still be negotiated depending on the buyer’s needs.
Strategy 2: Make an Offer First
If you find your next home before selling, you can submit an offer contingent on your current home selling. This type of agreement allows the seller to continue marketing their property while giving you a window of time to secure a buyer.
Understanding
Contingencies & Risk
With a contingency in place, you’ll typically have deadlines to list your home and secure an offer. If another buyer comes along, you may need to remove your contingency or risk losing the property. This strategy offers opportunity—but requires quick action.
Coordinating Closings & Moving
Ideally, both transactions align so you can close on your sale and purchase around the same time. Negotiating a short postclosing occupancy can give you time to move smoothly. If timing doesn’t align perfectly, temporary housing or storage may be necessary.
How the Money Transfers
Proceeds from your sale are typically transferred directly to your purchase. If both closings happen on the same day, timing of funds can vary slightly, but professionals coordinate to ensure everything is completed properly. Any remaining funds are either wired to you or provided after closing.
