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Do I need to sell my home before buying a new one?

Friday, November 22, 2019   /   by Jody Lee

Do I need to sell my home before buying a new one?

Deciding to sell your home and buy another one can be a stressful transition. Just making the decision that you need to downsize, upsize, relocate, or just want a different style of home can be difficult. Now the questions start to mound on how to make this happen, do you sell first, or do you buy first?

Finances are going to play a big role in determining how this will all play out. Can you pay cash for the new home while still living in the old one? Being able to buy your other home and having the convenience of staying in your home until it closes reduces a lot of stress, especially should a delay in closing happen. You also will not be leaving your home constantly for protentional buyers and keeping your home show-ready.

Have you spoke to your lender, and they say you will need the equity out of the first home sale to use to buy the new one? These are the types of questions that will need to be determined before even putting your first home on the market.

Get you home ready to sell before you find that new home, you may have a couple weeks of repairs, cleaning and decluttering to do before your home will be ready to market anyway. You don’t have to list it yet but having it ready will help with negotiations in getting your new home. You will have to put a contingency in your offer that you must sell your home to buy theirs. If your agent can say I will have their home on the market in a couple of days or sooner, it could make your offer all that sweeter.

Having a great agent to help you as you now move through the selling of your old home, buying of the new one. There will be hurdles whatever way you need to go and having a professional that has helped others through this same process will be invaluable. There will be a lot of stress of the unknowns and they will help you clear each hurdle.

If you would like more information please give me a call, I’d love to sit down with you and help you sell your home.

Jody Lee


Haven Real Estate Group

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Haven Real Estate Group
Cambria Henry
304 W Pacific Ave; Suite 360
Spokane, WA 99201

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