If your home sells before you find the next one, don’t panic. Assuming that you haven’t already started searching for a property, there are three things you can do.
Well, the best thing to do would be to start looking when you put your home on the market. That way, you have an idea of what you’re looking for and you can jump on the house you want once your current house is sold. Assuming that you didn’t do that, there are three things you could do:
1. Rent your original home back from the new owner. Rent-backs are very common. You get to stay in the home for a few weeks before closing and since you sold your home, you have money in your pocket for the next one.
2. Find a short-term rental. Most people rent properties long-term, but you can find somewhere to live for less than six months while you go out and look for your next home. You do have to move twice, but you have more time to make your decision.
3. Keep in mind that selling your house is a good thing. Depending on the market, selling before you buy might be the best option for you. Don’t just hurry out and buy a house once your home has sold; you may end up regretting your decision later on. Find some kind of temporary housing and take your time finding your next home.
If you have any other questions about buying and selling a home at the same time, just give me a call or send me an email. I would be happy to help you!
