Realtor.com recently asked homebuyers what is standing in their way of purchasing a home. Most claimed that they couldn’t find a home to fit their needs, but 10 percent say they’re concerned about selling their current home. That brings up the age-old “chicken-and-egg” real estate conundrum: What comes first, buying or selling? The answer to that depends on several factors:
The amount of equity you have in the home will help determine the sequence ― whether you should sell first or buy first. If you need the proceeds from the sale of your current home for the down payment and closing costs on the new one, you may need to sell first. Or, take advantage of some of the alternative solutions that we’ll explain below.