Selling your home and buying a new one at the same time can feel like walking a financial tightrope. If you’re like most Americans, you need the proceeds from the sale of your current home to buy your next home. You’re likely counting on earned equity to fund your deposit and cover closing costs. If you could, you’d prefer to buy before you sell. The concept of “buy before you sell” may sound too good to be true, but with HomeLight, it can be a reality. “The benefit of buying before selling is peace of mind,” explains Christine Marion, a HomeLight Buy Before You Sell Certified agent who serves on the top-performing Ryan Raymond team in Sarasota, Flordia. “With the right program, you can purchase a home before selling by using some of your equity in advance,” she explains. “This gives you the chance to move out after the purchase of your new home, where there’s less pressure to sell. It alleviates the fear of not having a place to live… and can also lead to a more profitable sale of your old home.” This guide will walk you through the process, showing how HomeLight’s unique program can transform your house-hunting and selling experience. In the realm of real estate, the term “buy before you sell” is commonly used to refer to a strategy where homeowners purchase a new property before selling their existing home. This approach offers a solution to the classic catch-22 of moving: needing to sell your current home to finance the next, yet not wanting to be left without a place to live in the interim. This route is also appealing to those who don’t want to move twice, and to sellers who want to prepare, stage, and sell their home without anyone living in it. “The conventional method of selling before buying often involves a tight timeline and the potential stress of finding a new home quickly after a sale,” says Brian Sloss, director of product management at HomeLight. “This can lead to rushed decisions or the inconvenience of temporary housing.” Conversely, buying before selling allows for a more relaxed house-hunting experience, with the added benefit of moving into your new home right away.What does ‘buy before you sell’ mean in real estate?
