Advice Topics
- Buying (233)
- Selling (241)
- Renting (42)
- Market News & Trends (13)
- Finance & Legal Info (104)
- Tips & Advice (102)
- Working With an Agent (59)
- Marketing (5)
- Investing (18)
- Affordable Housing (22)
- Green Housing (3)
- Schools (2)
- Remodeling (40)
- International Real Estate (8)
- Terms & Definitions (28)
- Home Loans (18)
Top Contributors (View All)
Find a Top Real Estate Agent Near You
Should I sell my house before I buy a new one?
I'm not sure what my timing should be because I don't want to not have a house to live in if i sell before finding a new one. But I also don't want to find the house I want and not have my home sold and get stuck with two mortages. What is the order of things I should do?
Asked By Tobias N | Bloomingdale, NJ | 21 views | Tips Advice | Updated 1 day ago
Answers (6)
Chris Nevada
Nevada Real Estate Group - LPT Realty
Most people either sell first and use a rent‑back or temporary housing, or they buy first only if they can safely afford two mortgages for a bit.
A simple order that avoids getting stuck is: talk to a lender and agent, get preapproved, list and sell your current home, negotiate staying in it a little after closing (rent‑back) while you shop, then close on your new home once you’ve found it.
A simple order that avoids getting stuck is: talk to a lender and agent, get preapproved, list and sell your current home, negotiate staying in it a little after closing (rent‑back) while you shop, then close on your new home once you’ve found it.
- 1 day ago
Helpful (0)
Unhelpful (0)
Tricia Jacobs
REMAX Gateway
Hi Tobias! This is one of the most common concerns I hear from clients. The fear of being "homeless" or "house poor" is real, but in today’s market, there are several strategic ways to bridge that gap.
Because every market moves at a different speed, the "correct" order depends entirely on your local inventory and your personal financial comfort. Here is how I recommend you approach the "Order of Operations":
1. Get a "Financial Reality Check" First
Before you look at a single house, you need to know exactly where you stand. Talk to a lender about whether you can qualify for a new home without selling your current one. If you can, you have much more flexibility. If you can't, you know right away that a "contingent offer" is your path.
2. Hire a Full-Time, Local Expert
Timing a buy-sell at the same time is like landing a plane on a moving ship—it requires a professional who does this every single day. Since I'm not in Bloomingdale, I can't tell you exactly how fast homes are moving there, but a local expert can. You need someone who can coordinate both timelines so the "dominos" fall in the right order.
3. Interview for Strategy
When you interview 2–3 local agents, ask them specifically about these "bridge" strategies:
The Rent-Back: Can we negotiate a deal where you sell your house but "rent" it back from the new owners for 30–60 days? This gives you the cash in hand to go buy your next home without moving twice.
The Contingency: How common are "Subject to Sale" contingencies in the Bloomingdale market right now?
My Advice:
Don't try to guess the timing on your own. The best way to start is to get a referral for a high-standard, full-time agent who can run a "Net Sheet" for you. This shows you exactly how much equity you'll have to play with.
I have a great professional network and would be happy to recommend a couple of experienced agents in the Bloomingdale, NJ area for you to interview. They can help you build a custom timeline that protects your interests and keeps you from getting "stuck."
Tricia Jacobs
Managing Broker/REALTOR®
Because every market moves at a different speed, the "correct" order depends entirely on your local inventory and your personal financial comfort. Here is how I recommend you approach the "Order of Operations":
1. Get a "Financial Reality Check" First
Before you look at a single house, you need to know exactly where you stand. Talk to a lender about whether you can qualify for a new home without selling your current one. If you can, you have much more flexibility. If you can't, you know right away that a "contingent offer" is your path.
2. Hire a Full-Time, Local Expert
Timing a buy-sell at the same time is like landing a plane on a moving ship—it requires a professional who does this every single day. Since I'm not in Bloomingdale, I can't tell you exactly how fast homes are moving there, but a local expert can. You need someone who can coordinate both timelines so the "dominos" fall in the right order.
3. Interview for Strategy
When you interview 2–3 local agents, ask them specifically about these "bridge" strategies:
The Rent-Back: Can we negotiate a deal where you sell your house but "rent" it back from the new owners for 30–60 days? This gives you the cash in hand to go buy your next home without moving twice.
The Contingency: How common are "Subject to Sale" contingencies in the Bloomingdale market right now?
My Advice:
Don't try to guess the timing on your own. The best way to start is to get a referral for a high-standard, full-time agent who can run a "Net Sheet" for you. This shows you exactly how much equity you'll have to play with.
I have a great professional network and would be happy to recommend a couple of experienced agents in the Bloomingdale, NJ area for you to interview. They can help you build a custom timeline that protects your interests and keeps you from getting "stuck."
Tricia Jacobs
Managing Broker/REALTOR®
- 22 hours ago
- Helpful (0)
- Unhelpful (0)
Are you ready to find a top agent near you?
Browse profiles of the highest ranked agents in your area and find one that meets your specific needs.
Haley Doeppers
Sotheby's International Realty Wine Country
Option 1: Sell First, Then Buy (Safest Financially)
Many people sell their home first so they know exactly how much money they have for the next purchase.
Pros
No risk of paying two mortgages
You know your exact budget
Your offer on the next home may be stronger (no contingency)
Cons
You may need temporary housing if you don’t find a new home quickly
💡 A common solution: negotiate a rent-back agreement, where you stay in your home for 30–60 days after closing while you find your next house.
Option 2: Buy First, Then Sell
Some buyers purchase their new home before selling their current one.
Pros
You don’t need to move twice
You have time to find the perfect home
Cons
You may carry two mortgages temporarily
Financing can be more complicated
This option works best if you have strong finances or enough savings.
Option 3: Make Your Offer Contingent on Selling Your Home
You can include a home sale contingency when buying.
That means:
Your purchase only goes through if your current home sells.
Pros
Protects you from owning two homes
Cons
Sellers may reject contingent offers, especially in competitive markets.
Option 4: List Your Home First, Then Start Shopping
A popular middle-ground strategy:
Prepare and list your home for sale
Start looking for your next home
Accept an offer on your home with a longer closing timeline (45–60 days)
This gives you time to find your next home while your sale is in progress.
Typical Order Many Homeowners Follow
Talk with a real estate agent and lender
Estimate your home value and equity
Prepare your home for sale
List the home
Start house hunting
Accept an offer
Buy your next home before closing
✅ Quick rule of thumb
If finances are tight → Sell first
If you have savings/equity → Buy first may work
Many people sell their home first so they know exactly how much money they have for the next purchase.
Pros
No risk of paying two mortgages
You know your exact budget
Your offer on the next home may be stronger (no contingency)
Cons
You may need temporary housing if you don’t find a new home quickly
💡 A common solution: negotiate a rent-back agreement, where you stay in your home for 30–60 days after closing while you find your next house.
Option 2: Buy First, Then Sell
Some buyers purchase their new home before selling their current one.
Pros
You don’t need to move twice
You have time to find the perfect home
Cons
You may carry two mortgages temporarily
Financing can be more complicated
This option works best if you have strong finances or enough savings.
Option 3: Make Your Offer Contingent on Selling Your Home
You can include a home sale contingency when buying.
That means:
Your purchase only goes through if your current home sells.
Pros
Protects you from owning two homes
Cons
Sellers may reject contingent offers, especially in competitive markets.
Option 4: List Your Home First, Then Start Shopping
A popular middle-ground strategy:
Prepare and list your home for sale
Start looking for your next home
Accept an offer on your home with a longer closing timeline (45–60 days)
This gives you time to find your next home while your sale is in progress.
Typical Order Many Homeowners Follow
Talk with a real estate agent and lender
Estimate your home value and equity
Prepare your home for sale
List the home
Start house hunting
Accept an offer
Buy your next home before closing
✅ Quick rule of thumb
If finances are tight → Sell first
If you have savings/equity → Buy first may work
- 1 day ago
- Helpful (0)
- Unhelpful (0)
Leilani Serrao-Baker
Civitas Realty
This is a very common concern, and there isn’t a single answer that works for everyone. The right order depends on your financial flexibility, risk tolerance, and what the current market looks like.
In general, there are three common approaches homeowners consider when selling and buying at the same time.
1. Sell first, then buy
This is the most conservative option financially. By selling first, you know exactly how much equity you have available for your next purchase and you avoid the risk of carrying two mortgages.
The trade-off is timing. You may need a short-term housing plan if your home sells before you secure the next one. Some sellers negotiate a rent-back agreement, which allows them to remain in the home for a period of time after closing while they finalize their purchase.
2. Buy first, then sell
Some homeowners choose to purchase their next home before selling their current one. This can make the move less stressful because you already have a place to go.
However, this approach requires the financial ability to carry two homes temporarily, or access to financing options that allow you to use equity from your current home. Lenders sometimes offer bridge-type solutions or programs designed for this situation, but they need to be evaluated carefully with a qualified lender.
3. Coordinate both transactions together
In some cases, the two transactions can be structured so that the sale and purchase occur around the same time. This may involve contingent offers, careful timing of escrow periods, or negotiated closing dates.
This approach requires thoughtful planning because the success of one transaction may depend on the other.
The first step is preparation
Before deciding on timing, it helps to understand:
What your current home may realistically sell for
How quickly homes in your neighborhood are selling
What inventory looks like in the price range you plan to buy
How much equity you would have available for the next purchase
Once those pieces are clear, it becomes much easier to determine the safest and most practical order for your situation.
A conversation with both a real estate professional and a lender can help you map out a strategy so you can move from one home to the next without unnecessary financial pressure.
In general, there are three common approaches homeowners consider when selling and buying at the same time.
1. Sell first, then buy
This is the most conservative option financially. By selling first, you know exactly how much equity you have available for your next purchase and you avoid the risk of carrying two mortgages.
The trade-off is timing. You may need a short-term housing plan if your home sells before you secure the next one. Some sellers negotiate a rent-back agreement, which allows them to remain in the home for a period of time after closing while they finalize their purchase.
2. Buy first, then sell
Some homeowners choose to purchase their next home before selling their current one. This can make the move less stressful because you already have a place to go.
However, this approach requires the financial ability to carry two homes temporarily, or access to financing options that allow you to use equity from your current home. Lenders sometimes offer bridge-type solutions or programs designed for this situation, but they need to be evaluated carefully with a qualified lender.
3. Coordinate both transactions together
In some cases, the two transactions can be structured so that the sale and purchase occur around the same time. This may involve contingent offers, careful timing of escrow periods, or negotiated closing dates.
This approach requires thoughtful planning because the success of one transaction may depend on the other.
The first step is preparation
Before deciding on timing, it helps to understand:
What your current home may realistically sell for
How quickly homes in your neighborhood are selling
What inventory looks like in the price range you plan to buy
How much equity you would have available for the next purchase
Once those pieces are clear, it becomes much easier to determine the safest and most practical order for your situation.
A conversation with both a real estate professional and a lender can help you map out a strategy so you can move from one home to the next without unnecessary financial pressure.
- 1 day ago
- Helpful (0)
- Unhelpful (0)
Will Gardner
Century 21 Morrison Realty
Assuming you have a mortgage and you will purchase a more expensive home with a bigger mortgage... First, make sure you get a value on your home so you know exactly where you stand. Next, talk to a lender to find out what your max budget is to make sure your goals are realistic. Next, tour some homes with an agent. If you feel it will be fairly easy to find your next home, I would put your current home on the market. Once you get an offer on your home and accept it, your agent should have a contingency to allow you to find a home within a few weeks, Your agent should write the contingency so that if you don't find one you can still get out of the contract and continue to stay in your home. It is possible to do the opposite -- offer contingent on selling your home, but you will have the advantage in negotiating if you have your current house sold first.
- 11 hours ago
- Helpful (0)
- Unhelpful (0)
Priscilla Hammond
HomeSmart
In my professional opinion, I would wait until I get an offer on my current home and then start looking at homes to buy. After the due diligence period is over start putting offers on homes that you like. In the contract for your current home ask for occupancy up to 90 days after closing. But if you’re lucky and with strict guidance from a great realtor, it would be possible to close on both on the same day.
- 1 day ago
- Helpful (0)
- Unhelpful (0)
Related Questions
-
Should I order a home inspection?
Do I really need to have a home inspection? Or can I skip this?
- Asked by Mike M.
- 1558 views
- Tips & Advice
- Updated 2 months ago
-
Should I do a home inspection?
- Asked by Mike M.
- 1703 views
- Tips & Advice
- Updated 3 years ago