Buy before you sell

Moving up, downsizing or relocating? See how much cash you'd need to buy first, what carrying both homes would cost, and what you'd keep once your current home sells.

These numbers are estimates only and may not be accurate. They depend on your real interest rate, credit, income and the home's actual taxes and insurance. Contact us for accurate figures; it's free and there's no obligation. The starting interest rate (6.5%) is an example only, not a quote: your rate depends on your credit, loan type, down payment and the market, and can be higher or lower. Change it to see the difference.

Your current home

What it would sell for ($)

Mortgage owed ($)

Current monthly payment ($) incl. taxes & insurance

Selling costs (% of price) commissions, title, stamps

Your next home

Price ($)

Down payment (%)

Interest rate (%) example

Months you might own both

Where the cash comes from

Savings you can use ($)

Equity line limit (% of value) typical 80–85

Equity line / bridge rate (%)

Cash needed to buy first

$—

Down payment plus about 3% closing costs

Equity in your home now
Equity you could borrow before selling
Borrowed from your equity
Still short
New home payment (est. incl. taxes & insurance)
Monthly cost while you own both
Total over
Left from your sale after repaying the equity line

Estimates only. Contact us for accurate figures: free, no obligation.

Your full name

Mobile phone

Detailed seller net sheet What's my home worth?

Roadmap: buying and selling at the same time

Selling one home and buying the next means two timelines that have to meet. Here's how they fit together.

What Bill does differently: before you list, he takes you to see homes where you'd be moving to, so you can decide whether moving is really right before spending anything.

1
Plan both moves
Buy before you sell planner →
Selling
- Find your home's value and your likely net proceeds
Buying
- Get pre-approved, including whether you could carry both payments for a while
2
Choose your order
Buy first
Find your next home before you sell. Use your equity (a bridge loan or HELOC) for the down payment, or qualify with both payments for a short time. Least stress moving; costs more if the sale takes longer.
Sell first
Sell, then buy with the cash in hand. You know your exact budget, but you may need a rent-back (staying in your home for a while after closing) or a short-term rental.
Contingent offer
Offer on the new home on the condition that yours sells. Simple, but sellers may prefer other offers in a busy market.
3
List and search
Selling
- Prepare, price and list your home
Buying
- Search with your new budget and lined-up loan
4
Two contracts, one timeline
Selling
- Accept an offer with a closing date that works
Buying
- Make an offer with a closing date that matches
5
Back-to-back closings
Selling
- Close the sale, often in the morning
Buying
- Close the purchase the same day or soon after, using your sale proceeds

As your Realtor and loan officer, we time both sides together so the dates line up. Times vary; nothing here is guaranteed.

What's next?

Seller net proceedsWhat your sale frees up.Go →Get matching homes sent to youStart watching for your next home.Go →Get pre-approvedFind out exactly how much you can borrow. It's free, there's no obligation, and sellers take your offer more seriously.Go →

Common questions

Can I buy a new home before selling my current one?

Often, yes. You need enough cash or equity for the down payment and closing costs, and a lender must approve you with both payments unless your current home is under contract or will be rented out.

Where can the down payment come from if my money is tied up in my home?

Common options are savings, an Extra Credit line (HELOC) on your current home before you list it, a bridge loan, or a lower down payment on the new home. Each has costs and trade-offs.

What is a sale-contingent offer?

An offer that depends on your current home selling first. It protects you, but sellers often prefer offers without it, especially when several buyers are interested.

What if I sell first?

You avoid two payments, but you may need somewhere to live in between. A rent-back (staying in your sold home for a short time after closing) can help.

For education and planning only. Approximate estimates; not legal, tax or financial advice. Not a loan offer, approval or commitment to lend. Example rates are for illustration only; rates can change and may not be available at commitment or closing. Rates, terms, taxes, insurance and program rules vary and change; your actual numbers may differ. Mortgage services by Bill McElhill, NMLS #2176490, licensed in Florida, Georgia and Texas.

Selling and buying: step 3 of 5

Your next step: Sell or rent it out?

Keep it as a rental?.

Sell or rent it out? → Or ask Bill

Your current home

Your next home

Where the cash comes from

Roadmap: buying and selling at the same time

Plan both moves

Choose your order

Buy first

Sell first

Contingent offer

List and search

Two contracts, one timeline

Back-to-back closings

What's next?

Common questions

Your next step: Sell or rent it out?

Plan your move with us