Buying a House While You Still Own

So you own a house and you want to buy a new house and you’re trying to figure out the process…

Option one: This is, of course, the easiest option. If you are fortunate enough to have the money to go buy a new house, do that! “Let’s go buy a new house, figure out which one, and go get it!” Then you figure out your move and when you’re ready and done, you move to your new house and we get your old house ready and put it on the open market.

Option two: There are some bridge loan products out there so you can buy that house, borrow the money, and then close on your new house, etc.

Option three: You have to bite the bullet and go “okay, we’re going to sell our house, we’re going to be homeless for a bit, and then we’re going to go buy a new house.”

Generally because escrows are somewhere between 30 and 45 days, you might get lucky and be able to get your house under contract and then go find a house to contract on. Worst case scenario, you’ve sold your house, you’ve gotten your equity out of your house, and you have to move into a short term stay place and then buy the new house when you find the right one.

There are lots of different ways to sort of peel that onion and if you have questions about what might be right for you, please give me a call, I’d love to help you!

Let’s talk!