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Mike Williford
2600 Rocky Oak Road
Powhatan, VA 23139
mike.williford@napierera.com
REALTOR®, Associate Broker
(804) 350-8278 Cell
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October
28

October 28th, 2019 by

Buying and Selling a Home

Buying and selling a home at the same time is essentially doing two jobs at once. Coupled with other life obligations, you will have a lot on your plate. While our real estate agents know it seems like a daunting challenge, the following tips can help you sell your home, buy a new home, and stay balanced.

  1. Study the Market
    Timing is critical, and you should have a solid understanding of prevailing market trends where your home is located and where the home you want to buy is located. This can help you position your home to sell so you won't have to wait to buy a home where you want.

  2. Secure Funds for a Down Payment
    Apply for a home equity line of credit (HELOC) before you list your home. This will give you access to funds you can use as a down payment. Alternatively, build up your savings, or speak with your bank about a bridge loan.

  3. Be Ready to Make a Contingent Offer
    If you find the home you want before you selling, then you may want to broach the subject of a sales and settlement contingency with the seller. This allows you to put an offer on a home with a first-right-of-refusal if the seller accepts your offer. Ideally, you will want to wait until you have an offer on your own home and then discuss a settlement contingency that allows you to buy the home when your home is sold.  

  4. Consider Renting Your Home Out
    If the market is slow and inventory of rental properties is low, you may want to rent your home out. This can ease your financial burdens and allow you to move into your new home right away. However, you will need to be willing to accept the risks and responsibilities of becoming a landlord.

  5. Consider Renting Your Home
    If you sell your home first, it may be possible to negotiate a rent-back agreement. In this scenario, you agree to pay rent on your property for a set time until you find a new home. It's important to note this is usually an option in a seller's market, and it may reduce the number of offers.  

  6. Have a Plan B, C, & D
    Selling and buying a home at the same time means you may miss out on your first choice. Because of the variables in play, it is vital to identify a second, third, and even fourth home that you would like. Giving you a little more flexibility during the process.  

  7. Sign on with an Experienced Agent
    An experienced agent can help you market the home effectively. They can also help you zero in on the ideal listing price for Richmond homes for sale and strategy for selling your home as quickly as possible. 

We encourage you to contact us for more tips on buying and selling a home at the same time. Our team can guide you through the steps you'll take on the way toward your new home. 

Categories: Buy a House
Tags: Napier ERA, Buying a house, Selling your home, Home-selling tips
Mike Williford
Mike Williford Office: (804) 598-7700 Cell: (804) 350-8278 Fax: (804) 897-3060 Email Me
Powhatan Office Main Phone: (804) 598-7700
3452 Anderson Highway
Suite B
Powhatan, VA 23139
Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 03/06/2026. The listing information on this page last changed on 03/06/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Fri 03/06/2026 8:54:51 AM EST) or CAAR MLS (last updated Fri 03/06/2026 6:36:06 AM EST) or CVRMLS (last updated Fri 03/06/2026 8:53:34 AM EST) or Williamsburg MLS (last updated Fri 03/06/2026 6:55:00 AM EST) or NNAR MLS (last updated Fri 03/06/2026 8:26:38 AM EST) or Chesapeake Bay & Rivers (last updated Fri 03/06/2026 8:50:49 AM EST). Real estate listings held by brokerage firms other than Napier Realtors ERA may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.

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