Many of our clients are in the “upsizing” phase of life right now, and one of their first questions is always the same. How do we buy and sell at the same time? Here are our tips for buying and selling at the same time: 

1. Talk to your mortgage lender

The first step is to talk to your mortgage lender to determine whether or not you need to close on your existing home before purchasing your next home. Every situation is different, and knowing this will dictate the order of operations going forward. We are happy to provide recommendations if you don’t already have a go-to lender!

2. If you’re buying your new home first…

This is the best-case scenario for getting your offer accepted on your new home. You won’t have to include a home-sale contingency, which makes any buyer’s offer less attractive than a similar offer without a contingency. 

3. If you’re selling your home first…

It will be important to have your house listed before submitting an offer for your next home. This will make the seller of your new home more confident. You can always include a disclosure in the listing saying the sale is subject to the seller (you) finding suitable housing, so you’re protected in case you do not find another home as quickly as you’d hoped.

5. Have your house ready to go

If you want to hold off listing your house until you’ve found your next home, we will recommend getting everything ready to go ahead of time — any repairs, staging, even photos. This way, there are no delays in getting your house on the market when you find your dream home.

6. Timing the closings so you’re not homeless!

We do everything possible to time the two closings to be as convenient as possible for you. Maybe you close on your new home first, take a week or two to move, then close on your previous home. Maybe you close on your current home then plan to stay in a hotel or with family for a few days before closing on your new home. Maybe you close on your current home first thing in the morning, then close on your new home that same day (this is risky but it can happen!). 

No matter your situation, our years of expertise ensure you are taken care of and we’ll work together to determine the best strategy for you to move to your new home with ease!