Buying and Selling a Home at the Same Time
Your Mini Guide
Selling your home while buying your next one? It’s a lot to juggle—but with the right plan, it doesn’t have to be stressful! Whether you’re upsizing, downsizing, or relocating, coordinating both transactions requires a solid strategy.
Here’s your step-by-step guide to making the process smooth in Glenview and the North Shore.
1. Know Your Numbers
Before making any moves, take a close look at your financial situation and options. You’ll want to consider:
- ✔️ Can you buy before you sell? This depends on your financial position and how competitive the market is.
- ✔️ Should you use a bridge loan? If you need funds from your current home’s equity to buy your next one, a bridge loan or HELOC might be a good option.
- ✔️ What’s your home’s current value? Understanding your home’s worth helps you plan ahead. Use our home valuation tool to get an estimate.
Your lender will help you run the scenarios and determine what makes the most sense for your budget and timeline.
2. Set Your Game Plan
Once you have clarity from your lender, it’s time to put your buying and selling strategy into action.
- ✔️ Work with a trusted real estate agent who specializes in coordinating both sales.
- ✔️ Start prepping your current home for the market—declutter, stage, and take care of any necessary repairs.
- ✔️ Begin your house hunt while keeping an eye on new listings. Check out available homes in Glenview and the North Shore.
- ✔️ Align your buying and selling timelines to reduce stress and avoid financial strain.
A well-planned strategy will help you transition seamlessly between homes while maximizing your selling price and negotiating power.
3. Avoid Getting Stuck Between Homes
One of the biggest concerns when buying and selling simultaneously is what happens if one deal closes before the other. To prevent being left without a home between transactions, consider:
- ✔️ Leaseback Agreements – Stay in your current home after closing while finalizing your next purchase.
- ✔️ Longer Closing Timelines – If possible, negotiate a longer closing period on your sale.
- ✔️ Short-Term Rental or Temporary Housing – Having a backup option like a rental or extended stay accommodations can reduce stress.
Your agent will help you manage the moving parts so that everything stays on track and your transition is as smooth as possible.
4. Work With an Expert Who Can Streamline the Process
Handling two transactions at once takes experience. A great real estate agent will:
- ✔️ Coordinate timelines so you’re not left in limbo.
- ✔️ Negotiate strategically to get the best terms on both transactions.
- ✔️ Assist with lender, title, and inspection coordination to prevent delays.
Having an experienced local expert who understands the market in [City Name] can make all the difference in getting you to the closing table smoothly. Learn more about why clients trust Vittoria Logli.
5. Stay Flexible and Expect the Unexpected
Even with the best-laid plans, surprises can happen. Some common scenarios include:
- 🔹 Your home sells faster than expected – Do you have a temporary housing plan?
- 🔹 You find your dream home but haven’t sold yet – Can you make a strong offer without a home sale contingency?
- 🔹 Closing dates don’t align perfectly – Do you have a backup plan for a temporary stay?
Flexibility is key – but with the right preparation and expert guidance, you can keep everything on track.
Let’s Make This a Smooth Move!
Curious about what this would look like for you? Let’s chat! I’d love to help you navigate the process of buying and selling at the same time while reducing stress and maximizing your financial outcome.
