How to Buy and Sell a Home Simultaneously

In the super-hot market we’re in right now, lots of people are calling me asking, “Hey Jeff, how do I sell my home and actually buy another home without being homeless?” That’s definitely a fair question. There are three ways to accomplish this:

1. Purchase a new home first and take your time selling the old one. Since lots of folks either aren’t able to carry two mortgages or don’t want the stress of doing so, this is the least common way to accomplish that.
2. Obtain a buyer on your current property to the point of contract and start aggressively searching for your next home. Go to contract on your next home so hopefully both contracts can be scheduled to close at the same time. With this option, I always suggest that my clients have a plan B just in case the two don’t line up. This may be renting an apartment or moving in with friends and family for a short period of time until both closings can happen.
3. Just plan on selling your home and temporarily move in with friends/family. Marketing your home completely, selling it, and having it close takes between 45 to 90 days on Long Island. With this option, you can take your time in purchasing the dream home you’re looking for.

If you’re looking for more details on any of these three options, just contact me by phone or email. I'd be happy to help you!

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I always suggest that my clients have a plan B in case things don’t line up.

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