Selling One Home While Buying the Next

You've outgrown the house. Maybe you want more space, a bigger yard or a different town. The order of things is the hard part: you need the money from this house to buy the next one, and you don't want to move twice.

 

I'm Tim Desmarais, a Realtor in Lowell and Dracut with Keller Williams Success Realty. I handle both sides of a move-up, selling the home you have and buying the one you want, on one timeline.

Should you sell first or buy first?

Your equity, your financing and your comfort with risk decide this one.

- Sell first. You know what you'll walk away with, and sellers take your next offer more seriously. You'll need a place to go, and a rent-back can cover that.
- Buy first. You move once, on your schedule. You may carry two homes for a while, and your financing has to allow it.
- Close both together. We line up the sale and the purchase so both close on the same day, or a day apart. It takes more coordination, and it's a common setup.


Call your lender early. A lender can tell you what you qualify for while you still own your current home, and whether a bridge loan or another option fits.

 

How a rent-back works

A rent-back, also called a leaseback, lets you stay in your home for a set time after it sells. You and the buyer agree on the dates and terms as part of the offer.

 

For one Pelham seller, I negotiated a zero-cost lease-back of about a month so they could stay put until their new home was finished. Some buyers say no, but you lose nothing by asking.

Can you make your purchase contingent on selling?

You can, but many sellers pass on offers with that condition. A home-sale contingency makes your purchase depend on your current home selling first, and the seller carries that risk.

I usually suggest getting your house ready to list, or under agreement, before you make an offer. Sellers read that as a buyer who can close.

Know your numbers first

Start with a realistic sale price. Subtract the mortgage payoff, closing costs and the Massachusetts deed excise tax ($4.56 per $1,000 of the sale price). The rest is your estimated net proceeds, the money you'll have for the next home.

A high sale price helps you only if the net covers your plan. Get a free home value estimate and I'll run the numbers with you.

Moving across the state line?

Many move-up buyers in the Merrimack Valley look at southern New Hampshire, and some go the other direction. I hold licenses in Massachusetts and New Hampshire, so I can sell your home in Lowell or Dracut and help you buy in Nashua, Pelham or Hudson. Closing steps and costs differ a bit between the two states, and I'll walk you through both.

What clients say

Real feedback from the people I'm proud to serve.

FAQ

Can I sell and buy a house at the same time?

Yes. The common setups are a same-day closing on both homes, a short rent-back after you sell, or buying first with financing that lets you carry both. Your equity and your lender decide which one fits, so we'll look at your numbers before you list.

How long can a rent-back last?

Should I list my house before I find a new one?

Thinking about moving up?

You don't have to be ready to list to start planning. Call or text me at 603-765-1965, or get a free, no-pressure home value estimate. Downsizing instead? See my downsizing page. You can also read how I sell homes, or check recent prices on my Lowell page and Nashua page.

Nashua River downtown