How to Buy a Home Before Selling in North Atlanta

By Susie Uhlich

Susie has been serving the Metro Atlanta real estate market since 2015, bringing nearly a decade of experience and a deep understanding of the communities she calls home.

You’ve found your dream home, but how do you sell your current home without ending up with two mortgages, or worse, having nowhere to go? It’s no longer just about finding a buyer. It’s about mastering timing so you can secure your next home while your current one sells.

In today’s market, many homeowners are buying and selling at the same time. Housing inventory remains lower than historical norms, which means it can be harder to find the right property quickly once your home is about to sell.

So is it actually possible to buy before you sell without the financial chaos? Yes. Here are five options to make it work.

1. The sale contingency. One way to protect yourself as a buyer is with a sale contingency. This essentially tells the seller, “I’m buying your house, but only after mine sells.” While a sale contingency protects buyers, it can be a hard sell, especially for sellers whose home just hit the market. It tends to be more acceptable for homes that have been on the market longer than average.

Sellers are also more open to it when the buyer’s home is already under contract and through the due diligence period. Many sellers will keep their home active with a kickout clause, allowing them to accept another offer. That means you, as the buyer, must remove your contingency or risk losing the deal.

2. Bridge loans and asset-based lending. If you want to make a stronger, non-contingent offer, a bridge loan can help. Bridge loans cover the financial gap so you can buy as if you already had the cash in hand, even before your current home sells. Alternatively, if you have a robust investment portfolio, you might look at a securities-backed line of credit, which lets you borrow against your brokerage accounts without selling your stocks.

3. Tapping into your existing wealth. I have had many clients successfully use a HELOC for investment purchases, and it can be just as effective when buying your next home. For homeowners with significant equity, a HELOC lets you tap into that equity and use it toward the purchase of your next home, helping bridge the gap before your current home sells.

In other cases, you can take a short-term loan from your 401k to cover transition costs. With both of these options, it’s best to consult with your financial advisor to figure out which one, if either, makes the most sense for your situation.

4. Buy-before-you-sell programs. There are now specialized programs from companies like Orchard, Knock, and Flyhomes designed to help you buy first. These services can even front the money for your new home while managing the sale of your old one. That said, these programs often come with additional fees, so it’s important to evaluate whether the convenience outweighs the cost for your specific situation.

5. The temporary occupancy agreement. In Georgia, this is called a temporary occupancy agreement. It allows you to sell your home, access your equity, and remain in the home for a short period after closing while you finalize your next purchase, giving you more flexibility with timing.

That said, in today’s market, I’m seeing this option less widely accepted. Many buyers prefer to take occupancy right after closing, whereas temporary occupancy was much more common during the fast-paced COVID market.

Buying before selling is entirely possible, but it requires a customized strategy. Every situation is different. Watch my video above for the full breakdown of all five options.

If you’re eyeing a new property but feel stuck in your current one, I would love to help you figure out the right approach. Call me at 470-748-3349 or email susie@susieuhlich.com. You can also visit susieuhlich.com for more information. Let’s put together a plan that works for your situation.