How To Buy and Sell a Home At the Same Time (In Different States)
As a real estate agent in Billings, MT something that I specialize in is buying and selling at the same time. Since Billings is often a city that people are relocating to, whether it be for work, the lifestyle, or even the community, it’s super common for people to be buying a home here while also selling their current one.
And buying a home and selling a home on its own is a BIG deal. But doing it at the same time? WOWZA!
But then if you throw in the mix of buying and selling at the same time in DIFFERENT states. Okurrrr! Whole different ballgame.
Recently I realized that I’ve walked you through the process of relocating to Billings, MT and I’ve walked you through the process of buying and selling at the same time, but what I haven’t specifically done is talk about what that process looks like if you’re moving from state to state.
But that’s changing as of now! In this blog post, you’ll learn how to navigate buying and selling a home at the same time in different states, including:
What the house hunting process looks like when you aren’t living in the state
How to navigate the logistics of staging your current home, packing your belongings, and getting everything moved to your new state
How the timeline works to ensure that you have a place to stay between when your current home sells and you close on your new home
Let’s dive into the Real Estate Collective process for doing just that. ⬇️
The Process for Buying and Selling a Home at the Same Time (In Different States)
1. Create your timeline
When it comes to buying and selling a home in different states, timing is everything and when you’re doing it across state lines, your timeline should be even more intentional.
Before you even connect with a realtor, it’s important that you know the answers to these questions:
When do you need to be settled in your new home?
Is the purchase of your new home contingent on selling your current home?
Are you willing to rent in your new state if the timeline of buying your new home doesn't align perfectly?
Having a rough idea of your ideal move date will help guide the rest of the process!
2. Work with two local experts
When it comes to buying and selling a home in different states, it’s not the time to DIY. For the process to go smoothly, you’ll want to work with an experienced, local real estate agent in both your selling and buying markets.
The reason you typically wouldn’t use the same realtor for both parts of the process is because 1) a realtor has to be licensed in the state you’re moving to so oftentimes it’s not even an option, but 2) each state has different rules, paperwork, and market dynamics, so you need someone who knows the local landscape and can advocate for you on both ends.
Here’s the thing though: both agents should be in communication with one another and act as a well-connected team so that the entire process can move forward smoothly every step of the way.
If you’re buying or selling in Billings specifically, I’d love to be the person that helps you with that! Click here to connect and I can share more about what it looks like to work together.
And if you need help finding a trusted agent in the area you’re moving to, I’m connected to tons of people all across the country and can provide recommendations so that you don't have to figure that out on your own!
3. Understand your financing options
Once you find a trusted local realtor that you want to work with, they can help you navigate one of the biggest parts of this process – the finances.
When you’re buying and selling at the same time finances can get tricky, especially when you’re relying on the equity from your current home to purchase the next.
Your realtor, and more importantly the lender that your realtor can help connect you with, will help you explore your options, but generally speaking here’s what’s most common in these scenarios:
Bridge loans – these short-term loans help cover the gap between buying a new home and selling your current one
Home equity lines of credit (HELOCs) – depending on your equity, you may be able to tap into funds before the sale closes
Contingent offers – some buyers include a clause stating their purchase is contingent on selling their current home. While not always ideal in competitive markets, it’s worth considering.
To know which option is the best for your personal scenario (because remember: all real estate transactions are DIFFERENT!), it’s best to work with a local, trusted lender who has experience navigating cross-state moves to find the best option for your situation.
4. Prep your CURRENT home for market
Through trial and error, I’ve learned how to guide clients through buying and selling a house at the same time and if I must say so myself, I think we have this thing figured out.
Now, it’s important to note that every agent will navigate this differently and I’m not saying this is the *only* way to make this happen, but from personal experience, it’s pretty effective.
When a client comes to me wanting to buy a new house and sell their current house at the same time, we always start in the same place: PREP!
When working with clients who are buying and selling at the same time within the Billings area, I typically don’t recommend listing the home right away. Instead, we wait to list your current home until you find the new home you want to buy.
This gives us the ability to buy and sell contingently – meaning there’s a set of conditions that must be met for the transaction to proceed. Contingencies provide a way for either party to back out of the deal without facing legal consequences if the specified conditions are not satisfied.
In this case, the contingency for buying your new home will be based on your current home selling and the contingency for selling your current home will typically include your offer on the new home being accepted AND a game plan for occupancy.
Essentially what we’re doing here is viewing the two transactions as ONE, because you aren’t willing to do one without the other.
The reason I choose to navigate the process like this is because as a buyer and seller at the same time, your most common concern is often going to be about the “in between.”
Now, this strategy doesn’t always work when buying and selling at the same time in different states, which is why it’s important that BOTH of your realtors are connected and can help you create a plan that WILL work!
But either way, your current home needs to be market-ready – to do that, I recommend:
Decluttering and deep cleaning
Tackling minor repairs
Getting professional photos and marketing materials ready
If you’re local to Billings, MT, a few of my top suggestions to help you during this phase are:
Professional Organizing | The OCD Girls
Professional Cleaning | Codi Borner (DM on Instagram to get connected!)
Packing and Moving Services
Decluttering Service | Purple Cactus
Bulk Trash and Junk Removal
Donation Centers
This is the FIRST step to getting your home on the market and once this is done, your selling agent can help you stage and price your home effectively to generate interest quickly.
(If you’re in Billings, I’ll connect you with my stager and she will give you a checklist of things to do to ensure that the house is properly prepped and ready for listing when it’s time!)
5. Start house hunting in your new state
Once your current home is prepped for market, it’s time to start the house hunting process in your new state!
For this step, your buyer’s agent (the agent you’re using to help you navigate the buying process for your new home) will likely want to know if you’re planning a trip to the new state you’re moving to to tour homes in person OR if you’ll be doing it all virtually.
Many times I find that clients worry that this step can’t be done virtually – and while it might be true that it can be a little more challenging to do so, it CAN be done!
As a Realtor in Billings, MT, I personally always start in the same place after our initial buyer’s consult, whether clients are coming into town to tour homes or not – and that’s with my Ultimate Community Guide.
This guide was created to help people accurately determine where they want to plant roots in Billings, MT by providing details on what the neighborhoods are like, what the home prices are, what’s popular in the area, etc.
The Ultimate Community Guide alone has saved a relocation buyer 2.5 hours on their home search because we were able to eliminate an entire area in Billings. This saved us from touring 8 homes that we had previously saved and allowed us to strategically search and tour areas that were a better fit! 🤯
After reviewing the guide and deciding which areas you like the most, you’ll send me your preferences and the fun can begin.
If you ARE coming into town to tour homes, I plan strategically and ideally I keep showings under 7-8 per day to eliminate overwhelm and decision fatigue.
If you’re visiting for a weekend, I’ll typically schedule showings for Saturday or Sunday mornings so that you also have the chance to explore town, visit some of the local restaurants, and ultimately just get a vibe for what living in Billings would be like!
If you are NOT coming to visit and we need to tour homes virtually, I’ll communicate that process and we’ll set up times that work for your schedule and do everything via Facetime or Zoom!
Oftentimes the biggest factor in a situation of buying and selling at the same time in a different state is TIME. You often need things to happen strategically and timely and while your realtors will be a great resource to help make this happen, as a buyer and seller the best thing YOU can do is be prepared!
This means:
✔️ having a general idea of the area you want to live in your new state (so you can maximize your time to find a new home by only searching in areas you’re interested in)
✔️ knowing your non-negotiables for your next home (so you don’t waste time touring homes that aren’t a good fit)
✔️ having your finances in order and knowing your options (so you don’t get stuck worrying about how you’re going to make things work)
✔️ having a realistic timeline of how the two transactions are going to happen (so you don’t become frustrated or overwhelmed when it feels like things are moving slower than you expected)
6. Have a plan for the “in between”
When it comes to buying and selling at the same time, one of the biggest concerns for clients is how to navigate the “in between” – the time between you selling your current home and buying your new home in a new state.
If I’m being completely honest with you, it’s rare for a sale and purchase of a home to align perfectly, so the BEST thing you can do for yourself is simply prepare for the gap.
Here are some common solutions that I typically recommend for clients in this scenario:
Arrange short-term housing in an Airbnb or find an extended stay hotel in your new state
Rent back your sold home for a short period (if the buyers agree)
Propose a longer close date
Overall, flexibility is key during this phase and having an ideal plan PLUS a plan if things don’t go ideally will save you soooo much stress!
7. Organize your moving logistics
In addition to having a plan for your accommodations during the “in between” phase of buying and selling a home at the same time, it’s also important to have a plan for your moving logistics.
To do this in a way that doesn’t make you crazy, first look at your key dates – home inspection, appraisal, closing, and your target moving day. This will help you align your sale’s handover with your purchase’s move-in (or at least the move to your temporary housing if that’s the route you’re going).
Next, research and select your movers (if needed!). To get the most bang for your buck, I recommend getting multiple quotes and alwayssss make sure they’re licensed! When you’re scheduling your movers, it might also be necessary to look into storage solutions if there’s a gap between your move‑out and move‑in dates.
When it’s time to start packing, don’t just start throwing everything in boxes. If you’ve been living where you currently live for years, then there’s a good chance that you have a lottttt of STUFF and there’s an even better chance that you really don’t need to keep all of it!
To navigate this part of the packing process, I suggest following a simple method that involves 4 sorting piles:
Keep: Items that are essential, hold significant sentimental value, or are frequently used
Donate: Gently used items that you no longer need. When it comes to donating, thrift stores can be a good option, but you can also donate to local shelters or charities so you know your items are going to a good cause!
Sell: Valuable items that you no longer need. You can use online marketplaces, garage sales, or consignment shops to earn some cash for larger things that still hold value.
Discard: Items that are broken, worn out, or no longer useful.
A few additional tips to make this process a bit smoother:
Follow the One Year Rule – if you have trouble deciding whether to keep an item or not, think about if you’ve used it within the last year. If you haven’t, you probably won’t within the next one either, so go ahead and get rid of it.
Use a Labeling System – as you clean out each room and decide what to keep, make sure you label each moving box by room and the contents inside. This will eliminate any confusion as you move the boxes into your new space.
Digitize Memories – it’s easy to want to hold onto photos, cards, letters, and other memorabilia, but these are often the items that become hard to store. To save space, consider scanning and digitizing your most beloved photos and old letters so you can easily look back on them at any time.
Overall, by proactively organizing these moving logistics, you’ll minimize stress and keep both your sale and purchase on track, no matter how many miles lie between your old home and your new one!
Ready To Buy and Sell At The Same Time (in Different States)?
Buying in one state and selling in another may feel like you're playing a game of real estate Tetris, but with the right support and a proactive approach, you can absolutely pull it off.
I truly believe that my team and I have this process down to a science and it CAN happen seamlessly when you go into it knowing that there’s just a bit of extra organization and prep needed to make it happen.
A core belief of mine is that you can go from start to sold without putting your life on hold and it doesn’t have to be complicated!
So, if you’re in a season where you need to buy and sell at the same time in different states, I hope this blog post serves as a guide to help you get started.
And if you happen to be buying or selling in Billings, CLICK HERE to connect and I’ll help you get started on the right foot.
If you aren’t local to Billings, good news for you – I know people! Connect here and I’ll get you in touch with a trusted agent in your area to start the home buying process with ease!