What If I Have to Sell My Home Before I Can Buy the Next One?

You have three ways to do it, and each one trades something for something else. The best choice depends on your money, your lender, and how much risk you can live with.

I'm a Home Buying Realtor in Greenfield, WI, and I work with a lot of families who have to sell one home and buy the next. The big fear is almost always the same: ending up with nowhere to live.

You list your home, accept an offer, then shop for your next one. It's the cleanest on paper because you know exactly how much you have to spend.

The trade: you may need a place to stay between closings. You can ask the buyer for extra time in your contract, but that's a request, not a promise.

You find the next home and make an offer, then sell your current one. It feels comfortable because you have a place to land.

The trade: you may be paying for two homes at once, and your lender has to be on board. Ask how your loan would work before you shop, not after.

You time the two closings close together, sometimes on the same day. I've helped a previous client sell their home and buy the next one at the same time.

The trade: it takes planning and flexibility from everyone. Dates have to match, and one delay can affect both sides.

Some buyers write an offer that's conditional on selling their current home. Sellers often see that as a weaker offer, so it's something to talk through with your agent and your lender before you write it.

1. Talk to your lender first, about both homes. I work with several trusted loan officers, and you can use your own.
2. Find out what your current home would likely sell for, so you know what you'd walk away with. I'm glad to run those numbers with you.
3. Decide how much overlap you could handle, in time and in money.
4. Have one agent run both moves, so the dates stay lined up.

If you want to see how the selling side works, here's how I sell homes in Greenfield.

You don't have to do this alone, and you don't have to have it all figured out today. We make a plan, step by step, and we check it at every stage.

Ask: Can I qualify for the new home before the old one sells? How is my current payment counted? What does the timing look like if the two closings are a few days apart? The answers decide which of the three options is open to you.

If you're in Greenfield and have to sell before you buy, call me. I'm a residential Realtor in Greenfield, WI, with a real estate agency behind me, Realty Experts LLC. I answer the phone, and I'll help you line it up. No pressure.

See how I help move-up buyers in Greenfield. I'm Rich Barnes, and my number is 414-899-8146.