Selling and Buying at the Same Time
The chicken-and-egg problem of real estate: do you sell first or buy first? Here's how to navigate both simultaneously.
Option 1: Sell First, Then Buy
The safest financial approach. You know exactly what you can spend on your next home. The risk? You may need temporary housing between closing dates.
Option 2: Buy First, Then Sell
Less stress about finding your next home, but you carry two mortgages until your current home sells. This works best in a strong seller's market.
Option 3: Bridge Financing
A bridge loan lets you use your current home's equity to finance the gap between buying and selling. Your mortgage broker can set this up — it's more common than you think.
Option 4: Conditional Offers
Making your purchase conditional on the sale of your current home. This is harder to get accepted in competitive markets but entirely reasonable in balanced conditions.