Buying and selling at the same time
I need to sell my current home and find a replacement….at the same time. What do I do? Buying and selling at the same time is not as complicated as you might think! You just need the right strategy.
During the buying process, start getting your house ready to sell. The first step in doing so would be to meet with your realtor. Together, you can figure out what the house will sell for and if there is anything you need to clean up or fix before you are ready to list. Usually, one of the steps that we recommend is to declutter your house. You will be able to get your house ready to sell and have a head start on the packing process!
As you are getting your house ready to sell, we recommend going out and getting a sense of what you think you want to buy. There is always a set of trade-offs. Which location? How big of a house? How much do I want to spend? It is important to figure these things out. Once you feel like you are getting close to buying the house you want, write an offer. At the same time, list your house. If you have a realistic listing price, it should go under contract pretty quickly. Right now, a realistically priced house is going under contract in less than two weeks. You can also write your offer for the new house to be contingent on the sale of your old house if you chose to do so. Your realtor will know the best move! In most neighborhoods, you will feel confident enough about the sales trends that you may not need to have that contingency in there. Your realtor will know the best move!
So, you will run both of the transactions in parallel. On closing day, maybe you will close on the sale of your old house in the morning and close on the purchase of your new house later that afternoon. There are obviously details to coordinate at this step, so this is where having a realtor to guide you through the process is very valuable.
Please do not hesitate to reach out to an agent on our team as soon as possible. We also offer up to 40 free classes a month to our agents and their clients. There are in-person and/or virtual formats available. Check out our training calendar for the most up-to-date offerings. Be sure to also watch this video with our founder, Lon Welsh, for more details on buying and selling at the same time!