How to Buy a Home While Still Selling Your Current One in Spokane

By Chelsea McFarlandCo-Founder, McFarland Prey Real Estate · Broker, Prime Real Estate Group

The Question Almost Every Move-Up and Downsizing Client Asks

"Do I sell first, or buy first?" I hear it from young families who've outgrown their first home. I hear it even more from adult children helping a parent move somewhere smaller, closer or easier to care for.

The worry is the same either way. Sell first, and you might have nowhere to go. Buy first, and you might end up paying two mortgages. The good news is there's more than one way to do this, and the right one depends on your money, your timeline and how much uncertainty you can live with.

I handle both the sale and the purchase for many of my clients, so I see this question from both sides.

"Chelsea handled both the sale of my previous home and the purchase of my new home. She's a problem solver. Great communicator and all-around fantastic person."

Jenifer P., Redfin review

Your Five Main Options

Most of the time, the best plan is a mix. For example, we might list your home with a longer closing and a rent-back, so you have time to find and close on the next one.

A few questions I ask every client

1. Could you qualify for the new home without selling the old one?
2. How much equity do you have, and do you need it for the down payment?
3. How long could you comfortably live in a short-term rental?
4. Does your current home need any work before it goes on the market?

Your answers usually point to the right option pretty quickly. Talk to your lender early, too. They can tell you what you'll qualify for under each plan.

There's no one plan that fits everyone. It depends on your equity, your finances, your timeline and how much uncertainty feels comfortable to you. I'd love to sit down and walk through your options together so you can choose the path that fits your situation.

"Chelsea helped us both with buying and selling, and she definitely knew how to navigate the market for the hurdles we experienced at both ends."

Naomi G., Google review

When You're Helping a Parent Downsize

With senior moves, the first call I get is usually from the adult kids, not the parent. And their worries tend to be the same:

• Getting Mom or Dad on board. The house holds decades of memories. The move has to feel like their decision, not something done to them.
• Making the money work. Often the sale of the family home is what pays for the next stage, including care down the road. That makes the sell-first-or-buy-first question even more important.
• Repairs while a parent still lives there. Nobody wants contractors tramping through the house while Mom is still in it.

On that last one, my honest answer is: it depends. I look at your parent's health, mobility, comfort and timeline. Sometimes it makes sense to do small fixes before listing. Sometimes it's kinder, and smarter, to let your parent move first and handle repairs once the home is empty. And sometimes selling as-is is the right call.

As a Certified Probate Specialist, I've learned to slow down with these families. I'm happy to meet at my office or at your parent's home and walk through a printed plan together, so everyone is looking at the same page.

"From our first meeting I was struck by her kindness, deep knowledge of the home-buying process, and her unfailing support."

Carole B., Google review

With one client, I started out working with the father directly. As he needed more support, his son, who lived out of state, stepped in, and I worked with him remotely to get the home ready and sold. I coordinated the contractors, cleaners, junk removal and staging so the family didn't have to manage it all from a distance.

"I am not local, so she went above and beyond preparing the house for market. She was well connected with other services I needed (contractor fix, staging, landscaping services)."

Peter L., Google review

Whether a parent is downsizing or a family is settling an estate, I can help line up cleaners, donation and haul-away services, electricians and other trades, and professional stagers once the home is empty.

Mistakes to Avoid

• Shopping before you know your numbers. Find out what your home will likely sell for and what you qualify for before you fall in love with the next one.
• Listing a home that isn't ready. First impressions matter. A little prep can mean a faster sale and a smoother move.
• Assuming a contingent offer will be accepted. Whether sellers take one depends on the market and the home.
• Going it alone. Timing two transactions is the trickiest part of real estate. Your agent and lender should be planning it with you from day one.

My Honest Take

Buying and selling at the same time is stressful, but it's very doable with a plan. The families who have the smoothest moves decide on their strategy before they list or shop, not halfway through.

Frequently Asked Questions

Should I sell my house before buying a new one?

Selling first is safest if you can't carry two payments. Buying first works if you have strong savings or equity. Many people use a mix, like a longer closing plus a rent-back.

What is a rent-back?

A rent-back lets you sell your home and stay in it for a set time after closing, giving you extra weeks to buy and move. Your buyer has to agree to it.

Will sellers accept a contingent offer?

Sometimes. It depends on the market and the home. In competitive situations, sellers often prefer buyers who don't need to sell first.

How do I help a parent downsize and sell their home?

Start with what your parent needs: health, mobility, comfort and timeline. Then decide whether to make repairs before listing, after they move, or sell as-is.

Thinking About Making a Move?

If you're trying to figure out whether to sell first or buy first, for yourself or for a parent, I'd love to help you map it out.

Call or text Chelsea: 509.565.1581
Email: chelsea@mcfarlandprey.com
Office: 1402 S Grand Blvd, Suite 201, Spokane, WA 99203