How to Sell Your Home and Buy Another One at the Same Time

Buying and selling a house can be a stressful and complicated process, especially when you’re trying to coordinate the timing of both transactions. Many people get stuck in the cycle of needing to sell their current home before they can buy a new one, but not being able to find a suitable new home before they sell. This can be frustrating and can lead to missed opportunities. Fortunately, there are options that can break this cycle and give you the flexibility you need to make both transactions go smoothly.

Option 1: Lease Back

One option is to go on the market and ask for a lease back for up to 60 days. This means that you would sell your current home and then lease it back from the new owners for a set period of time, giving you ample time to find a new home. This option is clean and efficient, allowing you to get your money quickly and giving you plenty of time to find a suitable new home. The lease back period is typically around 2-4 months from the acceptance of an offer.

Option 2: Temporarily Off the Market

Another option is to go on the market and then temporarily take the listing off the market until you find a new home. This can help show potential sellers that you are actively looking for a new home and can help mitigate concerns about contingencies. However, buyers may question why the property was taken off the market, so this option may not be ideal for everyone.

Option 3: Get Strategic

Finally, you can use a bridge loan service or a service like Homeward to purchase the home you want to buy before you sell your current home. These services allow you to take possession of the new home and then sell your current home on your own timeline. While these services do come with fees (approximately 1% of the purchase price of the new home), they can be worth it for the peace of mind and flexibility they offer. Many people use these services to relieve stress and give themselves more time and flexibility in the buying and selling process.

In conclusion, there are several options available to help break the cycle of needing to sell before you buy. Whether you choose to use a lease back, temporarily take your listing off the market, or use a bridge loan service, the key is to find the option that works best for your specific needs and circumstances. By being open to different options, you can make the buying and selling process smoother and less stressful, allowing you to move into your dream home with ease. If you have any additional questions please feel free to contact me!