Steps To Buying And Selling A Home May 2026

The title company or attorney coordinate the wire transfers. The funds from your sale are used to pay off your old mortgage, and the remaining profit is applied toward your new purchase.

You have two main paths. You can sell first (which puts cash in hand but may require temporary housing) or buy first (which is more convenient but may require a "bridge loan" if your capital is tied up in the first house). Phase 2: Preparing the Sale

Once the deeds are recorded, you hand over your old keys and receive the new ones. Final Thoughts steps to buying and selling a home

Before listing your current home or touring new ones, you need a clear financial picture.

Your lender will hire an appraiser to ensure the home is worth the loan amount. If the appraisal comes in low, you may need to bridge the gap with cash or renegotiate the price. Phase 5: The Double Closing The title company or attorney coordinate the wire transfers

A professional will check the systems of the home you are buying. Be prepared to negotiate repairs or credits.

Even if you’ve owned a home for years, lending standards change. A fresh pre-approval letter proves to sellers that you are a serious buyer who can perform once your current house sells. You can sell first (which puts cash in

In a "seller's market," these offers can be less attractive. To strengthen your position, ensure your current home is already under contract before making an offer on a new one. Phase 4: Due Diligence and Inspections Once you are "under contract" on both ends: