How can you buy a new house before selling your old home? Buying before you sell comes with its own set of risks, but with some planning, you can make it work. Here are three things you can do to make this process go smoothly:

1. Make an offer with a home sale contingency. By including a home sale contingency in your offer, you can purchase the new house once your existing home sells successfully. If your current home doesn't sell within a certain time frame, you can cancel the purchase contract without any penalties.

"Knock and Homeward are changing the way people buy and sell homes."

2. Finance with a bridge loan. A bridge loan is a short-term, high-interest loan. When you buy with a bridge loan, you can use your existing home as collateral to get a loan for your new house. To close your bridge loan faster, try to align the closing dates of your buying and selling transactions.

3. Use a service like Knock or Homeward to make a cash offer. Knock and Homeward are changing the way people buy and sell homes. These companies offer creative home loan purchases that allow you to make competitive cash offers on your dream home before the sale of your current one and help you avoid paying two mortgages simultaneously.

If you have any questions, don’t hesitate to reach out to us by phone or email. We look forward to hearing from you and helping you reach your real estate goals.