Choose Language

Translate to Spanish Translate to Portuguese Translate to French Translate to Russian Translate to Italian

A Guide on How to Buy a House Before You Sell Yours

Is there a big move around the corner?

Moving can be complicated in the most regular of circumstances. When you’re trying to buy a new house before selling your old one, things start to get pretty tough. There are many reasons why you might need to do it, that’s not what we’re here to discuss.

Instead, we’re going to help you solve this problem by giving you a guide on how to buy a house before you sell yours. Don’t let the stresses of real estate get you down, keep reading and let us help.

How to Buy a House Before You Sell Yours

The unfortunate fact that you might be facing here, unless you’ve paid off your current mortgage, is that lenders don’t like giving mortgages to people that are already carrying debt on a home. Sadly, the mere intention to sell doesn’t change this because there are never any guarantees in real estate.

Most people need the cash from the sale of their home to take into the next mortgage, but this isn’t your circumstance. Here are your options for how to buy a house before you sell:

Use Home Equity

A home equity loan or home equity line of credit are both ways for you to use your current home’s equity before selling. Technically, a home equity loan is just a big loan that can be used for anything, but it functions like a second mortgage, with a one-time equity draw, a fixed interest rate, and monthly payments.

Obviously, this is a bit risky in that you’re further leveraging your property. If something went really wrong with your current property, you could be in hot water financially. You might not get a home equity loan if your house is already on the market, so it’s good to look into this early.

Put Less Than 20% Down

If you’re not so concerned about your monthly expenses fluctuating and you find a willing lender, you could put less than 20% down. Many lenders will accept terms with 15%, or even 10% down, but you might expect a shorter-term (less than 30 years), which will drive up monthly mortgage payments.

Buying With Contingency

You can also look out for yourself on the other end. Not every home seller would be excited to accept a sales contingency in an offer, but it does happen. Basically, this would just be a clause in the contract that says if your house doesn’t sell by a certain date, then you can back out of the purchase agreement.

If you get a great realtor, like Hatch Realty in Fargo, then they might be able to convince the seller that your home is sure to sell quickly. Also, if their home has been on the market for some time, they’ll be more likely to accept a contingency.

Don’t Let Lenders Discourage You

Now that you know a bit about how to buy a house before you sell yours, you can start comfortably looking for your dream home. As long as you sit down and figure out what you can afford to do, there’s no reason not to get the home you want just because of timing. Make your move today!

Did you find this post helpful? Come back again for more on


Previous post:
Why is There a High Demand for Moving and Removalists in Australia?
Next post:
All About Investing in Villa Real Estate
About the Author

Kaya Wittenburg

Blog Author and CEO

Kaya Wittenburg is the Founder and CEO of Sky Five Properties. Since the age of 10, real estate has been deeply ingrained into his thoughts. With world-class negotiation and deal-making skills, he brings a highly impactful presence into every transaction that he touches.

He is here to help you use real estate as a vehicle to develop your own personal empire and feel deeply satisfied along the way. If you have an interest in buying, selling or renting property in South Florida, contact Kaya today.

Feel free to call me at: (305) 357-0635
or contact via email: