Trusted Real Estate Expert Advisors

Stop here if you talked to your lender and determined that you HAVE to sell in order to buy 👋 (or keep reading incase you should prepare for this scenario):

Trust me, you're not alone but fair warning, this will be challenging. If you've ever heard anyone tell you otherwise, they're lying. I'm here to A: Tell you like it is but B: Help you be as prepared as possible to therefore simplify it as much as it can possibly be simplified.

In today's post, I'm going to tackle some of your options in this scenario to get you mentally ready!

A: Your for sale sign needs to come before your dream home search (before you officially start searching that is). If you're going to write an offer on a home, your house needs to be listed for sale, FIRST.

B: Determine if you want to bank on finding a house in the window of your house getting an offer and the closing date or if you want to find alternative living arrangements for the in-between.

C: If you decide to try for the short window, please be mindful of the domino effect. This is possible but if you have to sell in order to buy, your home has to close in order for you to close on the new home. If something falls apart (again, it is a possibility), then you could lose out on your new house. Don't think the worst, just be prepared.

D: To give yourself a longer timeframe to find your new house without finding in-between living arrangements, you could request a closing date that is farther out with the buyers purchasing your home. This will give you more search time.

E: Get your house on the market, under contract and sold with a plan for alternate living arrangements in place so that you don't have to rush to find your dream home. Will this be more work - yes. But it will also give you the time you need to find a house you truly love rather than finding one because you only had 60 days before you became homeless!

More to come on buying and selling at the same time tomorrow!

Your FIRST step when buying and selling at the same time ⬇️

Figure out the answer to this question:

DO YOU HAVE TO SELL YOUR HOME IN ORDER TO BUY A NEW HOME?

This doesn't mean "Do you want to sell first" it means "Do you HAVE TO sell first".

Having your current home under contract and ready to close before closing on your new home sounds ideal, but it can also make the process a lot more complicated and stressful (to be totally honest).

So start by talking to a lender about your financing options before putting up a for sale sign. Have them run the numbers a few different ways to to find out if you can financially carry both mortgages at the price point you're looking to move up to.

I'll be sharing the next step in the moving up to your dream home process later!