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Get my SELLING & BUYING TOGETHER cheat sheet.


As we continue to have record low inventory levels, many buyers who must first sell their current home are staying out of the game with the fear that they will not be able to find a replacement home. It is important to understand all of your options, how they may benefit you, and how you can purchase your next home.

Traditionally, there have been three ways to sell your current home and buy a new one, all explained below. With the market being so competitive, there are emerging companies and programs that help sellers buy before they have to sell.

selling & buying together

what is this?
how is it helpful?
what are the risks?

buy first, sell later (recast)

Put as little as 5% down on a new home. Then “recast” after you sell your home by placing your proceeds into the new loan and recalibrating the payments accordingly. This is allowed once during the life of your loan.

Don’t have to move twice

Wait for the perfect home… can be a little more picky than with other options

May get stuck with 2 house payments

Less money to put down on the new house

Not offered by all lenders… make sure to ask!

buy & sell together (contingent)

Ask the seller of the new house to accept an offer contingent on you selling your current home. This can be done with your house under contract or without it under contract.

Don’t have to move twice

Can find the perfect home and then put your house on the market knowing you won’t get stuck with 2 mortgages

Difficult to convince a seller to accept a contingent offer in competitive market (especially in our current market)

May not get as good a deal or compete with other, non contingent offers

sell first, buy later (rent back)

Your buyer can rent your home back to you for up to 60 days after closing. During this “rent back” period, you can shop for your new home and make a strong, non contingent offer.

You know your house is sold and you can potentially put down a larger down payment

In the current competitive market, buyers are offering 2 months of free rent back

Time-constrained home search

You may have to move twice

Which option is best for you?

Everyone’s situation is different. A recast is a great option but it does require being approved for both loans. Contingent is the most common but difficult in the current market of multiple offers. Rent back might be the best option of the three and has become increasingly more common. Plus, because of the competitve market, buyers are offering no cost rent backs, meaning you can live in your home for up to 60 days for $0.

Didn’t you mention another option?

Yes, indeed, there are now companies and programs available that will allow you to offer on a home without having to make it contingent on the sale of your current home. Knock is one of those companies and West + Main has partnered with them to help many a seller purchase their new home in this fashion.

To learn more about the Knock Home Swap™, go to or message me!

want to find out more?

If you have any questions or would like to find out more, I am happy to help and would love to hear from you!