Can You Buy and Sell a Home at the Same Time?

You’ve found your dream home. Your 10+ year plan. The space you see your family living for the foreseeable future.

Now how do you sell your first home, the one you have outgrown, and buy that special place all at once? It might seem overwhelming to sell and buy at the same time, but you can sell and buy at the same time. To make the process as smooth and stress free as possible, you’ll need to focus on three key areas:

  • Team
  • Finances
  • Timelines and expectations

Build Your Dream Team

It’s likely that during your home selling and buying process that you’ll be working and carrying on business as usual until it comes time to move. That means you’re going to be super busy with life, and selling and buying are going to add to your workload. To eliminate additional work for you and to keep stress at a minimum, you’ll need (and want) someone to assist you. You’ll need agents on both ends of your real estate transaction:


During the sale of your home, you’ll have a few things to carry out yourself:

  • Gather info about your home to list the details
  • Clean up and get ready for pictures and showings
  • Setup lines of communication so you can stay in contact with your agent
  • Sign paperwork and come to scheduled meetings

A good listing agent will take care of all the nitty gritty details and the paperwork. When you work with a Homie agent, here are some of the things you can expect them to do:

  • Consult on listing price
  • Market your home
  • Filter buyer calls
  • Fill out and review paperwork and contracts
  • Negotiate on your behalf with the buyer’s agent

It’s pretty clear why you’d need someone to help you through selling your home; there’s so much to do!


Buying a home is a lot of fun. Who doesn’t like to browse listings, go to showings, and walk through gorgeous model homes? This is the part you’ll want to make time for. As a buyer, you’ll need to do a few things:

  • Get finances in order (we’ll go over this more later)
  • Set aside time to go on tours
  • Setup lines of communication to keep in contact with your agent
  • Sign paperwork and come to scheduled meetings

Your buyer’s agent is going to do what everyone else dreads doing: paperwork. When you work with a Homie agent, you can expect them to assist you by:

  • Working with listing agents to schedule showings
  • Generating contracts (offers, addendums)
  • Scheduling meetings
  • Negotiating on your behalf with the listing agent

Your buyer’s agent is one of the key pieces of your dream team.


Your dream team should be assembled as soon as you start shopping around or listing your home. The earlier on your team can prepare for your transaction, the better off everyone will be. Here are a few things to look out for when you’re on the hunt for MVPs for your team:

  • Cost. What commissions will be charged to you as the seller or buyer? What ways can you save?
  • Experience. How many transactions has the agent done? How well versed are they in different types of home buying and/or selling situations?
  • Availability. Is your agent going to be available to answer any questions you may have via text, email, or call? Support is key.

Know Your Finances

Money is necessary to buy a home. That’s not surprising at all, but many people don’t know where to even start. Here’s a quick step by step:

  1. Find a mortgage broker you trust. Look at reviews and get a recommendation from your buyer’s agent. (A Homie agent will recommend Homie Loans™*.)
  2. Get prequalified with that broker. Seriously. Do this before you even start browsing listings. Prequalification is a quick check on your finances that will give you a price range you can use to narrow down homes.
  3. Start saving (cut the take out meals) and start eliminating debt where you can (pay down those credit cards). Remember: don’t make any large credit changes like opening a new line of credit or buying a car.
  4. Begin a conversation. Talk to your loan officer and see what options are available to you and your unique situation. No, you don’t have to have perfect credit, and you don’t have to have a full down payment to make your dream home happen. That’s why it’s important to start talking about what options will be best for you.

Sale Proceeds

You can use the profit you gain from selling your current home to help you pay for the next. After your buyer closes on the purchase of your home, you’ll need to wait for the sale to fund and record (money to move and the legal stuff to be sorted). In some cases, you may be able to close, fund, and record on your new home on the same day. It’s more likely that all that will happen the day after your buyer closes on their end.

Your listing agent will need to convey the situation to the buyer’s agent on your home as early as possible, as you may need a few days to finish the purchase out, move out of your home, and into your new one.

Know Your Timeline

Here are a few common situations home buyers find themselves in when they’re thinking about timelines, and it does have a lot to do with financials.

Selling a Home and Using Proceeds

If you need to sell a home in order to fund the purchase of a new one, you’ll need to wait for a buyer to fall in love with your home and go through the motions of buying it, just like you are for your new home.

Once the seller has funded and recorded on your home, the gears start spinnin’ fast. The money the buyer owes for your home will be dispersed to the appropriate parties. If you have a mortgage on the home, your mortgage company will be paid off first. Title fees and closing costs will also be paid. If there are funds left over, that’s when you get your dough.

Your proceeds from the sale can be given to you in a few ways if you’re using them to buy your new home:

  1. You can get a check for the proceeds and you can give it to whomever needs it to purchase the home.
  2. The funds can be held in escrow by a title company and wired to whomever needs it to get your new crib.

You don’t have to wait to put an offer in on a home or start moving in the direction of the finish line, you just have to wait until the buyer of your home has paid out in order to cross the finish line.

Selling a Home and Not Using Proceeds

If you don’t need the proceeds of a home sale to buy a home, you can essentially move as fast as the seller of your dream home can move. They may have a contingency on their home sale for a purchase of a home, too. You’ll just need to communicate with your agent to let all relevant parties know what your timeline is.

Cash Offers

These work relatively the same as the situations above. If you will receive the cash after a sale, you’ll need to follow the steps outlined in that section but you won’t need to worry about a mortgage company.

If you have the cash now and the sale of a home is irrelevant, you can move as quickly as the seller can. Again, you won’t need to worry about a loan.

Know a Homie

If you want a team that is experienced in home buying and selling, get in touch with Homie. For each side of the transaction, you will have a dedicated, local agent to help you buy or sell your home. The Homie way is full service, full savings, and full happiness.

*Homie and Homie Loan have a business relationship in that all are owned by the same persons. Learn more.

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