How to Buy a Home Before Selling Your Current One in Nevada County
March 10, 2025
Thinking about moving to a new home but still need to sell your current one? Buying before selling can feel tricky, but with the right strategy, you can secure your next home without the stress of being in between properties.
In this guide, we’ll cover how to successfully buy a new home before selling your current one, the financing options available, and tips to avoid double mortgages or rushed sales.
🔄 1. Should You Buy Before You Sell?
Buying first can be beneficial if:
✔ You don’t want to rush into buying the wrong home.
✔ You found your dream home and don’t want to risk losing it.
✔ You can financially handle owning two properties temporarily.
🏡 Pro Tip: If you’re worried about carrying two mortgages, there are financing options to help bridge the gap!
💰 2. How to Buy Before Selling – 4 Financing Options
1. Home Sale Contingency (Risk: Moderate)
✔ Make your new home purchase contingent on selling your current home.
✔ Sellers may prefer stronger offers, but it works in certain markets.
2. Bridge Loan (Risk: Low-Moderate)
✔ A short-term loan that helps cover your down payment while waiting for your home to sell.
✔ Ideal for buyers who have equity but need liquidity.
3. HELOC (Home Equity Line of Credit) (Risk: Low-Moderate)
✔ Tap into your current home’s equity to fund your next down payment.
✔ Best for homeowners with substantial home equity.
4. Leaseback Agreement (Risk: Low)
✔ Sell your current home and rent it back temporarily while finding your next home.
✔ Allows for flexibility and avoids rushed moves.
🏡 Pro Tip: Not sure which option is best? I can connect you with trusted lenders to explore the right financing strategy for you!
🛠️ 3. Steps to Buy Before Selling
✔ Step 1: Assess Your Finances – Determine how much you can afford while owning two properties.
✔ Step 2: Explore Loan & Financing Options – Work with a lender to find the best strategy.
✔ Step 3: Work with a Realtor Who Can Handle Both Transactions – Selling & buying at the same time requires expert coordination.
✔ Step 4: Find Your Dream Home & Make an Offer – Use a bridge loan, HELOC, or contingency offer.
✔ Step 5: Sell Your Current Home ASAP – List your home quickly to minimize overlap costs.
🏡 Pro Tip: A strong pricing and marketing strategy for your current home can help you sell quickly and transition smoothly into your next property!
🚀 Final Thoughts: Make Your Move Without the Stress
Buying before selling is possible with the right plan. If you’re thinking about moving in Nevada County, I can help you navigate the process, explore financing options, and coordinate both transactions seamlessly.
💬 Let’s chat about how to make your transition as smooth as possible!
📞 Call or text me today to get started!
Evan Glasco
📍 Realtor® | Coldwell Banker Grass Roots Realty
🏡 Nevada County Real Estate Specialist
📞 530-635-2521
📧 EvanSellsRealEstate@gmail.com
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📢 "I'm more than just a Realtor—I'm here to guide you home."
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🔹 Helping Buyers, Sellers & Investors Navigate the Market
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