I need to know how to buy another home while selling my existing one! How do I ?
I/We are relocating to another state and need to know how to buy another home there while selling our existing home!
3 Responses
Okie Gal
26 Feb 2010
Psycee
26 Feb 2010
You should buy an RV. That would be cool.
BillParkhurst
26 Feb 2010
You just have to write a contract stipulation (contingencies) that meets your needs when buying a new house and selling your old one. You can even get financing to cover your expenses during the transition (equity).

go ahead and list the one you are wanting to sell. In the meantime, find a house in the new state and write a contract with a contingency that you cannot close unless the first house sells. There needs to be a time limit because the Seller will not want to be in a "pending" status for a year waiting for you to sell. This can be tricky, especially if you aren’t able to swing two mortgage payments at one time.