Selling your house is already a lot to deal with — when you’re also trying to buy your next place at the same time, things can get complicated. The process of buying and selling simultaneously can be tricky, particularly if you need the money from the sale of your current home to put toward your new one.

In a perfect world, your next house would be ready and waiting as soon as you turn over the keys to your previous one. But of course, the world is not perfect, and the timing does not always line up the way you’d like it to. The good news is, a little planning and a savvy real estate agent and attorney can help make both transactions run more smoothly and conclude simultaneously. Here are five key steps to follow, plus handy tips to manage the process.

How to sell and buy a house at the same time in 5 steps

1. Assemble a team of pros

Given all the actions required and paperwork involved in the delicate dance of selling and buying a home at the same time, having a seasoned professional to guide you through the process is crucial. A skilled real estate agent who knows your local market well can give you a realistic estimate of home prices in your area, which will help you estimate what your proceeds will look like. Ideally, that money will be put directly toward the down payment and closing costs of your new home.

“Working with a really experienced agent makes a huge difference,” says William Fastow, a broker with TTR Sotheby’s International Realty in Washington, D.C. “There are a lot of moving pieces, so you want to work with someone who has a proven track record in your market and experience across both buying and selling.”

If you are selling in one market and buying in another, it becomes even more of a dance, so good professionals at both ends become critical to a successful transaction.

If you’re buying and selling in the same area, using the same real estate agent for both your sale and your new purchase can help the entire process go more smoothly. The same is true of real estate attorneys: Some states require you to have an attorney, but even your state does not, it’s smart to have one on your side. Whenever there’s complicated contract language and large sums of money at stake, professional legal advice is invaluable.

2. Evaluate your finances

It’s important to keep close tabs on your finances and credit, both before and during the process. The mortgage rate you get for your new home purchase will depend heavily on your credit score, so don’t make any moves that could negatively impact it — like financing a new car purchase or changing jobs — before your purchase is fully closed.

Ideally, you’d be able to have concurrent closings, selling one home in the morning and closing on your next place that afternoon — or at least within a few days. But what if things don’t go according to plan? You could suddenly find yourself without the necessary funds to close on your new home, or wind up paying two mortgages for an extended period of time. Worst-case scenario, you may be unable to get final approval for a mortgage and potentially lose your next home.

If you don’t have the means to handle two mortgages at once, it’s smart to include a contingency in your contract that gives you an escape route, should the sale of your current home fall through or not bring in the price you need. You may also consider adding a financing contingency, in case your new loan approval hinges on selling your current home. Both are fairly common, and a good agent or real estate attorney will be able to help you negotiate and get them written into the purchase and sale agreement you sign with the seller.

3. Analyze the market

When trying to buy and sell a home simultaneously, a lot also depends on the conditions of your local housing market. Does it favor buyers or sellers?

In a seller’s market, sellers have the upper hand. This has been the case for much of the past few years, in which the housing market was characterized by limited inventory and high demand. Even in a seller’s market, you’ll want to make your home as appealing as possible to bring in top dollar. But you can also be a bit more selective about which offers to consider. If the property is priced right and staged well, it will likely sell quickly — so make sure you’re ready to move fast on buying your next place.

On the other hand, when inventory is high and demand is low, that’s typically a buyer’s market. When buyers are in the driver’s seat, it could take much longer to sell your home. In a buyer’s market, you may want to hold off on making an offer on your next place until you’ve gone into contract with a solid buyer for your current home. You may also want to include a contingency that voids the deal if the sale of your current home doesn’t go through.

No matter what kind of market you are in, what’s important is the price spread between what you are selling your home for and what you are paying for your new one. In a seller’s market you will likely make up the spread on the sale of your old home, while in a buyer’s market you will likely make up the spread on the purchase price of your new home.

4. Negotiate the timeline, not just the money

Of course you want to get the best possible price on the sale of your home, and not to overpay for the next one. But consider the timing of the closing process as well when negotiating both deals. The closing date can be one of the most important details here: The goal is to get both the buyer of your current home and the seller of your next home to agree to adjacent closings and/or any necessary contingencies. If you’re staying in the same general area, you might even look into arranging back-to-back escrow, in which the proceeds from the sale go immediately toward the purchase of the new property, with no waiting.

“When I put out an offer for a client, I’m making it clear that we need to close on that date,” says Mark Pires, a Realtor with Coldwell Banker in Fairfield, Connecticut. “In a competitive market, the buyer may have to move their schedule around if they really want that home.”

5. Have a backup plan

No matter how carefully you plan your transactions, surprises can occur. Things might not happen on schedule, or might even fall through completely. If you have the right contingencies in your contract, you should be able to reschedule the closings accordingly or walk away with minimal financial pain. But it’s smart to have a backup plan just in case. Here are some safety-net options:

• If you sell your current home but haven’t found your next place yet, you’ll need to find a short-term rental. (Don’t wait until the last minute — work with your agent to determine cost and availability in advance.)  Be sure to factor in the added expense of moving, or renting a storage unit if all your belongings won’t fit into the temporary place.
• Consider asking your buyers to do a rent-back agreement, which would allow you to remain in your current home after closing for a short time and pay rent to the new owners until you can move. (Of course, this will only work if the buyers don’t need to move in immediately.)
• If you close on your new place without selling the old one first, you’ll have two mortgages to pay. To cover the costs until you’re able to sell, you may want to consider a bridge loan over the short-term. (You’ll need to arrange this in advance, and keep in mind that you’ll be responsible for making payments on it regardless of when, or whether, your house eventually sells.)
• If you’ve closed on the new dream house, move in and try renting out your old home. The rental income can help offset the expense of the new place until you’re able to sell.

Should I sell my house now or wait?

Deciding whether it’s the right time to sell your home can be perplexing. According to Fannie Mae’s April 2025 Home Purchase Sentiment Index, 58 percent of consumers still believe that, despite the fluctuating market conditions, now is a good time to sell.

There are a number of important factors to consider when it comes to the timing of your house sale. These include:

• Interest rates: While mortgage rates are down from their peak of 8 percent in the fall of 2023, they’re still relatively high, hovering around 7 percent. High rates mean fewer buyers who can afford to make the purchase, while low rates entice more prospective buyers to enter the market, which is advantageous for sellers.
• Housing inventory: The country has been in the throes of a housing shortage for quite some time, but inventory has been inching up recently. Typically, an overall lack of homes for sale drives up demand and prices for the few available properties.
• Home size: Moving into a smaller home is usually a more budget-friendly choice. So if you’re an empty nester who’s looking to downsize, for example, that will likely be more financially manageable than upgrading.
• Life circumstances: Sometimes, life happens and you need to sell regardless of whether it’s a good time or not — for a new job, a family situation or some other unavoidable circumstance.

Consider these factors carefully, and don’t rush into a sale just because the market conditions seem right. If you don’t have a solid game plan for where you’ll go after your home is sold, or if you fear you could be hit hard by a job loss or possible recession, then it may be smarter to hold off for now.

Home-selling alternatives

A traditional, agent-assisted listing is not the only way to sell your house.

Cash-homebuying companies can be good options if you need to sell in a hurry, need cash fast, or if your home is in poor condition and you want to sell as-is. There are national operations and smaller local homebuying firms in just about every market. There are also a number of trade-in realty companies that will allow you to keep your current home while you find a new one, such as Knock, Orchard and Flyhomes.

If you want to take this route, shop around and get a few quotes (there’s typically no obligation) before you commit. Be aware, also, that you won’t receive top dollar for your home when you sell to one of these services: They usually offer less than you’d be able to make in a traditional sale. If you’re really in a rush, or if the home requires more repairs than you are able to handle, taking that financial knock might make sense. But if not, a bit of patience will generally get you a better price.

You might also consider an auction. There are a number of real estate auction firms that are experienced in this method of sale.

The “for sale by owner” route also allows you to sell without an agent. However, given the amount of work this process involves, and the amount of expertise an agent can bring when you’re trying to buy and sell simultaneously, it’s probably not a great option in this case.

FAQs

• Can I sell my home if I still have a mortgage?
  

  Yes — in fact, it’s very common. When you sell a home with a mortgage, you can use part of the proceeds from the sale to pay off your mortgage balance and any closing costs. As long as you sell your home for more than the outstanding balance, you will be able to clear your debt.

• How much does it cost to sell a house?
  

  Selling a house isn’t all profit — there are prep and closing costs to consider, as well as real estate commissions. Those opting for a traditional, agent-assisted sale should plan to pay between 2.5 and 3 percent, typically, to their agent (this amount might be more or less depending on the value of the home, and will be negotiated before you agree to work together). Some sellers agree to pay their buyer’s agent’s commission as well. In addition, don’t forget to budget for closing expenses such as attorney fees, transfer taxes, prorated property taxes and more. These can all vary widely based on sale price and location.