You have three ways to sequence a move: sell first, buy first, or try to do both at once. Each one has a cash requirement, a set of things that can go wrong, and a realistic timeline. The right answer depends on your money and your market. Contingencies are part of every sequence, so the terms in your contract matter as much as the order.
Sell first, with a rent-back or short lease
You sell, then arrange to stay in the home after closing for a set period while you find the next one. Cash required: minimal, your equity converts to cash at closing. What can go wrong: the rent-back window ends before you have a new home, and you are moving twice. Timeline: you control it, but you carry the moving risk. Sell and stay leaseback works this way.
Buy first, with bridge financing or a recast
You buy the new home before the old one closes, using a bridge loan or recasting the new mortgage once the old home sells. Cash required: enough to carry both payments and the bridge, plus the new down payment. What can go wrong: the old home sells slower than the bridge term, and you are paying two mortgages. Timeline: the bridge term sets the clock, and it is usually short.
True simultaneous
Both transactions close on the same day, or within a day of each other. Cash required: the least of the three, because neither sale waits on the other, but the calendar tolerates zero slip. What can go wrong: a buyer on your old home delays, and your new closing cannot close without your old equity, so one missed date can stall both. Timeline: everything depends on both sides meeting their dates.
The questions for your lender
- What bridge or short-term products exist today, and what are their terms?
- How much cash would this specific sequence require?
- Can the new mortgage be recast after the old home sells, and what does that cost?
- What happens to my rate if the timing slips?
I am an agent, not a loan officer. The product names and terms above must come from your lender, because programs change and I will not describe one that may not exist today. Pre-approval is where the numbers start to be real.
If you are planning a move, the first call is with your loan officer, and the second can be with me. Get the lending answers, then book a call to sequence the move at /schedule/.
Frequently Asked Questions
Can I buy a home before selling mine?
Yes, with bridge financing or a mortgage recast, but it requires carrying both payments and enough cash. Your loan officer runs the numbers.
What is a rent-back?
A rent-back lets you sell your home and stay in it after closing for a set period, usually weeks, while you buy the next one.
What is the safest sequence?
Selling first, usually with a rent-back. It minimizes cash risk but can mean moving twice if the new home is not ready.
Can both closings happen the same day?
Yes, true simultaneous closings exist, but they tolerate zero schedule slip. One delayed date can stall both transactions.
Who decides which sequence works?
Your loan officer decides what the lending supports, and your attorney handles the contracts. I help you sequence and coordinate the real estate side.
Related Questions
Planning a Move?
Get the lending answers from your loan officer first, then book a call with me to sequence the move.