Selling and Buying a Home at the Same Time in Portland: How to Avoid Costly Mistakes

Thinking of Buying and Selling a Home Simultaneously? Read This First

Selling your home while buying another sounds simple in theory—but in reality, it’s one of the most stressful and financially risky real estate moves you can make. Without a solid plan, you could find yourself stuck with two mortgages or, worse, no home at all.

If you’re navigating the Portland real estate market, where timing is everything, understanding how to coordinate your home sale and purchase is crucial.

To help, we’ve created a comprehensive guide that walks you through the step-by-step process of selling and buying a home at the same time. Before you download it, here are some must-know strategies to ensure a smooth transition.

Timing the Buy & Sell: The Biggest Mistake to Avoid

One of the biggest challenges is timing. If you sell too soon, you may not have a new home lined up, forcing you to find temporary housing. If you buy first, you risk being stuck with two mortgage payments and financial stress.

How to Avoid This Pitfall:

• Use a rent-back agreement – This allows you to stay in your home after selling while you finalize your next purchase.
• Consider a bridge loan – This short-term financing option lets you purchase your new home before selling your current one.
• Work with an experienced real estate agent – A strategic agent can help coordinate closing dates to avoid unnecessary overlap.

Financing Pitfalls That Could Derail Your Home Move

Most homeowners need the equity from their current home to afford their next one. However, mortgage lenders typically won’t approve a new loan unless your home is already under contract or sold.

Smart Financing Solutions:

• Pre-approval with a departure residence assumption – Lenders can calculate your new mortgage as if your old home is already sold, giving you more flexibility.
• HELOC (Home Equity Line of Credit) – If set up before selling, this can provide temporary funds for a down payment on your next home.
• Negotiating a longer closing period – This gives you extra time to finalize your new home purchase while ensuring your current home sale is secure.

How to Win in Portland’s Competitive Housing Market

Portland’s housing market can be competitive, and contingent offers (where your purchase depends on selling your home first) are often less attractive to sellers.

Ways to Strengthen Your Offer:

• List your home first – Secure a strong offer before house hunting to make your next offer more competitive.
• Price your home correctly – A well-priced home will sell faster, allowing you to move forward with confidence.
• Work with a knowledgeable real estate team – They can advise on market conditions and help you navigate multiple offers.

Want the Full Strategy? Download the Guide Now

These are just a few of the essential tips you need when buying and selling a home at the same time. Our free guide provides a step-by-step breakdown, including:

• The best financing strategies to avoid double mortgages
• How to align your sale and purchase timelines seamlessly
• Insider tactics to strengthen your offer and avoid losing your dream home

Don't take chances with your biggest financial move. Download the guide now and make your transition stress-free.