You have to sell, and close escrow on your current house before you can buy another house.


While it’s true that in a seller’s market that you should make a non-contingent offer so that you look as strong as possible, and so the seller does not worry about your ability to perform, people often worry about moving twice. They also wonder how they will qualify with 2 payments.

If they don’t intend to rent it out, this means that they have 2 mortgages going at once: “What bank in their right mind would lend us money knowing our payments are more than our income?”  These are legitimate concerns and questions.

We are able to qualify you for the new house even if your old house hasn’t sold, meaning closed escrow.  If you are selling a home to buy the next home, but do not want to be “homeless,” we can have you buy the new home with the old home listed and under contract with loan contingency cleared by the buyer, but not actually closed. That way you don’t have to move twice and can avoid making contingent offers.