Steps To Buying And Selling A Home May 2026

This is the most delicate stage. When you find a house you love, your offer will likely include a . This tells the seller: "I will buy your house, but only if my current house sells by a specific date."

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.

On closing day, you will typically sign the papers to sell your old home in the morning and sign the papers to buy your new home in the afternoon. steps to buying and selling a home

Once the deeds are recorded, you hand over your old keys and receive the new ones. Final Thoughts

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 This is the most delicate stage

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:

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 A fresh pre-approval letter proves to sellers that

Work with an agent to analyze "comps" (comparable homes recently sold in your area). Pricing competitively often generates multiple offers, which gives you more leverage regarding your closing date. Phase 3: The Search and the "Contingency"