Complete guide

Selling Your Home and Buying the Next One in Dallas-Fort Worth: The Complete Guide

Can you sell your home and buy the next one in Dallas-Fort Worth without ending up with nowhere to live in between? Yes, and there is more than one way to do it. This guide puts everything I have written on the subject in one place: the five options, the loan, your equity, the offer, the dates and the move, in the order you will need them.

I'm Veronica Yeary, a real estate agent with All City Real Estate DFW. I have been in real estate since 2010 and have walked more than 450 families through their move. Almost every seller I work with is also buying. That is two transactions and one relationship, with a written plan so you always know what happens next.

Here is the order: first I hand you, in person, your home's value and what you would walk away with. Then a lender reviews what they can approve. With those two in hand we choose the option that fits, prepare your home, find the next one and set the dates so you move once. Nobody signs anything they don't understand.

You don't have to read it front to back. Find the section that fits where you are today. Each one has a short explanation and the articles that go deeper.

Start here: the 6 key articles

The 5 ways to sell and buy, and which one comes first

In Texas there are five paths: sell first, buy first, close both on the same day, buy with a home-sale contingency, or use your equity through a bridge loan or a line of credit. None of them fits everyone. The right one depends on how much equity you have, what your lender approves and how flexible your dates are.

Before you decide: is this your moment?

The question is not how the market is doing. It is how your family is doing: the space, the school, the job and the rate you have today. Sometimes the answer is to wait, and I will tell you so. These articles help you run the numbers on staying, remodeling, renting or moving. If you decide to wait, I'll tell you what to prepare in the meantime, so that when the time comes you are already halfway there.

When the whole family has a say

Selling and buying is almost never one person's decision. Here is how to talk it through when one of you wants to move and the other doesn't, who has to sign, and what to do when the kids have moved out and the house feels too big.

Your equity: the down payment you already have

Equity is the part of your home that is already yours: what it is worth minus what you still owe. For many families, that is where the down payment for the next home lives. I hand you your home's value in person, with the selling costs and your mortgage payoff explained line by line, so you know what you are working with before you make an offer. And if you owe more than the home is worth, there are still options, and they are worth seeing before you decide.

Lender first, sign second

Before your home goes on the market, a lender checks whether you can be approved for the next one while you still pay on the current one, and which option fits: a bridge loan, a line of credit or selling first. If you own a business, your tax returns and bank statements tell your story, and it pays to put them in order early. I'm not a lender. I connect you with the right one for your situation, and they confirm.

How to make an offer before your home sells

A home-sale contingency puts in writing that your purchase depends on your current home selling. In Texas it is done with an official addendum from TREC, the agency that regulates real estate in Texas, and the seller can keep taking other offers. It is two negotiating tables at once, and I'm on your side at both.

Preparing and selling the home you're leaving

Your sale is what pays for the next purchase, so it gets prepared with a plan: the paperwork, what you have to disclose to the buyer, a pre-listing inspection and the photos that actually bring showings. Many of my sellers sell their home as is. Selling in time to buy does not have to mean selling cheap.

The dates: closing, moving and staying a few extra days

The question that keeps people up at night is where they will sleep between one home and the next. With the dates set up right you move once, and if needed we negotiate for you to stay in your home for a few days after it sells, in writing on the TREC form. This section also covers what happens if the appraisal comes in low and what you sign on closing day.

Choosing the next home: new build, land or a new city

The next home is often a builder home, a property with land or a house in a growing city. Each one comes with its own checklist: MUD and PID in Frisco and Prosper, what to check on acreage in Denton County, the daily commute and the school. We review it before you sign, not after.

Selling and buying in your city

Every city has its own details. Carrollton sits in more than one county, Dallas has its own appraisal district, and older homes in Plano call for a decision on what to fix and what to leave. These guides go city by city, so you can see your own situation by name. If your city doesn't have its own article yet, the process is the same and we work through the details together.

Your plan, step by step

When you want to see your own situation with dates, we start with three questions: what your home is worth, what your lender approves and what dates you need. From there we build your written plan. You decide.

Frequently asked questions

Do I have to sell first before I can buy?

Not always. It depends on your equity, your income and what your lender approves. Some families buy first with a bridge loan or a line of credit, some sell first and negotiate to stay a few days, and some close both on the same day.

What if I sell and haven't found a home yet?

You can negotiate to stay in your home for a while after closing, using a temporary lease from the TREC forms. You can also ask for a longer closing date. What matters is that it is in writing before you sign.

Will a seller accept my offer if my home hasn't sold?

It can happen. A home-sale contingency carries more weight when your home is already on the market, well prepared, and your pre-approval is ready. The seller can keep taking offers, and the TREC addendum spells out how that works.

How do I know what I'll walk away with?

It is what your home is worth, minus what you still owe (your mortgage payoff), minus the selling costs. I prepare your home's value and hand it to you in person, at your home, with every cost explained.

Which cities do you work in?

I work across all of Dallas-Fort Worth: Dallas, Fort Worth, Plano, Frisco, McKinney, Prosper, Allen, Irving, Arlington, Carrollton and Highland Village, among others. The sale and the purchase, the whole transaction, with me.

Can I sell my home as is and still buy another?

Yes. Many of my sellers sell their home as is, without repairs. What you know about the home still gets disclosed to the buyer, and the price reflects its condition. What you walk away with is still your down payment for the next one.

Will you work with me if the next home is a new build?

Yes. The agent at the model home works for the builder. It is best to bring me from the very first visit, because many builders require that for you to have your own representation.