The Secret to Buying and Selling Simultaneously

Here are the different ways you can go about buying and selling homes.

Can you sell a house and buy another at the same time? Contrary to what you may

have heard, it’s possible, and today I’m going to show you how.

Let’s start with your current home. Before you start looking to buy, you should

address what you have control over. Make those little repairs, declutter, clean,

and have professional photos taken. 

Even though your home’s not on the market yet, you want it to shine when buyers

see it online. At this point, I also recommend a pre-listing home inspection to alert

you of any potential issues ahead of time. 

Then we need to look at your financial situation to make sure you have the ability

to buy another home. Even if you have good credit, that doesn’t automatically

mean you qualify to hold two mortgages simultaneously. 

“I recommend a pre-listing home inspection.”

One way to buy before you sell is with a home equity line of credit. A lot of

homeowners these days have a lot of equity, and if you already have a line set up,

you can pull money from that to use as a down payment. 

A bridge loan is another option. It allows you to have money to put down on your

new home, and then you can pay it back once you sell your current property. You

have to be able to qualify for all of these payments, however. You could also

borrow against retirement funds, which would make me nervous, but it is an option. 

The last resort is making an offer on a new home that’s subject to selling

your current home. You could get beat out by another person without the

contingency, but sometimes it’s what you have to do. We’ve been able to make it

happen with this strategy in this market.

If you want to have the best chance of having your home purchase and sale go

off without a hitch, reach out to me. I would love to hear from you.