I get asked this question all the time: “Is it possible to buy and sell a home at the same time?”
This situation happens all the time. You want to buy a new home, but you can’t until you’ve sold your current home. You’re not alone. Pretty much everyone is in this situation. Most people can’t afford two mortgages at once, nor do they want to have to find temporary housing while they look for a home. You won’t be able to borrow against the equity of a home you’re trying to sell and you won’t get credit for the equity from a seller until your home is under contract.
"This situation happens all the time."
What I suggest is that you make a checklist of what you’re looking for in a new home. Once you have that list, make note of how many homes come on the market each quarter that match that criteria. Having sold over 1,000 homes, I can tell you that similar properties sell multiple times throughout the year. For example, over 1,000 large one-bedrooms sell in Downtown Manhattan every year, so if that’s what you’re looking for, of course you’ll be able to find one that fits your needs.
The first step in this process is reaching out to a professional real estate agent. We can help you come up with a game plan, get the home on the market, get it sold, and make sure you find the home of your dreams.
If you have any questions for me or want to know how I can help you handle a situation like this, give me a call or send me an email. I look forward to hearing from you.