Two Homes, One Smooth Move: How Minnesotans Pull Off Buying and Selling at the Same Time
How to Sell and Buy a Home at the Same Time (Without Losing Your Cool in the Twin Cities Market)
Already own a home but dreaming of a bigger backyard, a shorter commute, or a cozy downsized spot for retirement? You’re not alone—repeat buyers make up a big chunk of Minnesota home sales. But here’s the tricky part: you don’t want to be stuck paying two mortgages or couch-surfing between closings. So, how do you pull off selling and buying at the same time without the stress spiral? Let’s break it down.
Why Do People Do This?
Besides the obvious “I need somewhere to live,” here are a few reasons Minnesotans choose to buy and sell simultaneously:
You need the equity from your current home for your next down payment.
You can’t qualify for a new mortgage until your old one is gone.
You’re in a competitive market and want to make a strong offer without a “please wait while I sell my house” contingency.
Can You Actually Do It?
Short answer: Yep.
Long answer: It takes planning. Some sellers add a “subject to finding suitable housing” clause to their listing, but heads up—that can scare off buyers. On the flip side, buyers who make offers contingent on selling their home might struggle to get accepted. So, what’s the better way? Keep reading.
Your Game Plan
Here’s how to make this work without pulling your hair out:
1. Get Pre-Approved Early
Don’t wait until you find “the one.” Meet with a lender (hi, that’s me!) to figure out what you can afford and get your financing ducks in a row.
2. Find a Rockstar Agent
Interview agents who know your target neighborhoods inside and out. A good agent is your secret weapon for timing and strategy.
3. Do Your Homework
Make a wish list for your next home, then hit some open houses. Get a feel for what’s selling and what fits your budget.
4. Prep Your Current Home
Declutter, deep clean, and tackle those little repairs. A well-staged home sells faster—and for more.
5. Consider a Bridge Loan
Found your dream home but haven’t sold yet? A bridge loan could be your golden ticket. It lets you use your current home’s equity for the down payment so you can make a non-contingent offer (huge win in a competitive market). Perfect for relocations or downsizing moves!
Bottom Line
Buying and selling at the same time isn’t easy, but with the right prep and team, it’s totally doable. Want to chat about your options? Let’s make a plan that fits your timeline and your budget.