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I have a home that I want to sell and purchase another one?
Selling and buying another home How does this procedure work
Asked By Myra P. | Federal Way, WA | 1463 views | Buying | Updated 3 years ago
Answers (8)
Amanda Courtney
REP Realty Group
This is very common! You can either sell first, then buy — or do both simultaneously using a contingent offer. Your agent can coordinate timing so the closings align, minimizing the need for temporary housing or bridge loans.
- 4 months ago
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Bonnie Irby
Bonnie Irby Berkshire Hathaway Homeservices NW Real Estate
Consult with an experienced realtor to devise a marketing plan, establish pricing and expectations around time on market. Get prequalified with a seasoned lender and determine whether you must sell in order to buy. Explore the market with your broker for the purchase, that way if you have to sell in order to buy you will have a clear idea about generally what you can anticipate as your buying power.
If you have to make a contingent offer do so after your current home is through inspection, this sets you up for a stronger negotiation and ultimately greater success.
If you have to make a contingent offer do so after your current home is through inspection, this sets you up for a stronger negotiation and ultimately greater success.
- 3 days ago
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Nicole Serviss
The Serviss Group with RE/MAX Elite
Selling and buying at the same time is very common, and there are a few ways to approach it. Some people sell first so they know exactly what they can spend on the next home. Others buy first using options like a bridge loan, a home equity line, or a contingent offer. The right path depends on your finances, timeline, and comfort level.
As your agent, I would walk you through the numbers with a net proceeds sheet, explain your loan options, and help you coordinate both closings so the transition feels smooth. With the right plan, you can move from one home to the next without unnecessary stress.
As your agent, I would walk you through the numbers with a net proceeds sheet, explain your loan options, and help you coordinate both closings so the transition feels smooth. With the right plan, you can move from one home to the next without unnecessary stress.
- 5 months ago
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Ashleigh Camberg
PCS Home Group
First, hire a real estate agent who has experience with this type of move. Selling and buying at the same time takes planning and strong contract knowledge.
Next, talk with your lender. Find out if you qualify to buy first and then sell, or if you need to sell your current home first in order to use that money to purchase the next one. Some people have to close on their current home before they can close on the new one.
There are many ways to structure it. You might list your home first, get it under contract, and then shop for your new home. Or you might find your new home while getting your current home ready, get your offer accepted, and then quickly put your home on the market.
There are options to help make the timing work. That is why it is so important to work with someone who has experience with these types of transactions.
Next, talk with your lender. Find out if you qualify to buy first and then sell, or if you need to sell your current home first in order to use that money to purchase the next one. Some people have to close on their current home before they can close on the new one.
There are many ways to structure it. You might list your home first, get it under contract, and then shop for your new home. Or you might find your new home while getting your current home ready, get your offer accepted, and then quickly put your home on the market.
There are options to help make the timing work. That is why it is so important to work with someone who has experience with these types of transactions.
- 1 month ago
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Margo Christophilis
Keller Willaims GSRE
Good morning,
Selling and buying depend on your needs. You could buy first if you have the capability and then get your home ready to sell.
You could sell and buy at the same time. We need to be strategic.
You could buy contingent on the sell of your home.
I will be available after the 22nd. Please feel free to call me 206 963 5525 or email me at [email protected].
Selling and buying depend on your needs. You could buy first if you have the capability and then get your home ready to sell.
You could sell and buy at the same time. We need to be strategic.
You could buy contingent on the sell of your home.
I will be available after the 22nd. Please feel free to call me 206 963 5525 or email me at [email protected].
- 3 years ago
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Octavio Moreno
HomeSmart AV
You will need to list your home contingent to seller find a new home and close escrow concurrent
- 4 years ago
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Aaron Farr
Farr Group NW
Selling one home and buying another is very common, and a lot of Spokane homeowners go through this process. The first step is to talk with a lender and find out what you qualify for, whether you need the proceeds from your current home for the down payment, and how much flexibility you have with timing.
From there, your real estate agent helps you figure out your home’s likely sale price, your estimated net proceeds, and the best strategy for buying your next home. Some people sell first and then buy. Others buy first if they can qualify to carry both homes temporarily. In some cases, the purchase is made contingent on the sale of the current home.
The key is coordinating timing, closing dates, possession, and moving plans. A Spokane real estate agent and lender can help you understand options like rent backs, bridge financing, and sale contingencies so the process goes as smoothly as possible.
From there, your real estate agent helps you figure out your home’s likely sale price, your estimated net proceeds, and the best strategy for buying your next home. Some people sell first and then buy. Others buy first if they can qualify to carry both homes temporarily. In some cases, the purchase is made contingent on the sale of the current home.
The key is coordinating timing, closing dates, possession, and moving plans. A Spokane real estate agent and lender can help you understand options like rent backs, bridge financing, and sale contingencies so the process goes as smoothly as possible.
- 2 days ago
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Tracy Mathis
Southern Homes Realty LLC
Myra there are a few different options depending on your situation. Do you qualify for another home without selling your home 1st? Will you be using the proceeds from the sale of you home as a down payment on your new home? There are questions we would need answered to be able to tell you exactly how that works. Feel free to contact me and lets talk.
Tracy
Tracy
- 4 years ago
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