Guide to selling and buying a house at the same time

What: Selling and buying a house simultaneously is known as a simultaneous closing, which can be complex and requires careful planning.
Why: This strategy can be beneficial for buyers who want to avoid temporary housing costs, but it also increases the risk of falling through on both transactions.
Signal: A strong signal for a simultaneous closing is when the buyer has a pre-approved mortgage for the new home and a clear plan for the sale of their current property.
Target: The target timeframe for a simultaneous closing is typically within a few weeks, but this can vary depending on the complexity of the transactions and local market conditions.
Risk: The primary risk of a simultaneous closing is that the sale of the current property may not be completed in time, leaving the buyer without a new home.