Sell it but do not buy immediately. Rent a place this will give you that cushion of time. If you rush to buy you may be sorry and pick a place less desirable than you would have taken your time. Then again if you are determined to buy you can list your house with a 3 month rent back. This will give you 3 mos. to bag a new house. It is kind of quick yet people do this all the time. My seller to us said ok to our offer but give us 3 mos. rent back so we can find a place. We said yes as we were in no hurry and had a house we lived in fully paid for. They after 3 mos they still had not found any thing and put their stuff in storage, moved into a hotel, so we could get in. After being in that hotel for another 3 mos. they finally found a house.... more
In California, it's quite feasible to do this (I've done it several times) with the help of Nolo Press' book "For Sale By Owner in California" by George Devine. You can make up a professional -looking website using Weebly for free, post information on craigslist, Trulia, and other websites. You must be willing to show the home yourself and do the marketing. Also, it's possible in most states, to "purchase" the services of a real estate agent by the hour to help with aspects of the process where you need it. In addition, local companies like "Help- You- Sell" will share the tasks of selling a home with the seller for a lower commission. The bulk of the detail work is done by the title company/escrow company (at least here in CA), so why pay big bucks to a real estate agent? It's not difficult to inform yourself with Nolo Press or other sources of information. www.nolo.com [ I don't work for Nolo but have used their self-help legal resources for many years with success.] Empower yourself!... more
While it can get a little complicated in terms of getting all the times to synch; it's done every day. First you should focus on getting your home on the market, check out the link I've attached below. Then start your search for the house you wish to buy. It's perfectly fine to use the same agent to represent you buying and selling but you should not let them represent both sides within a single transaction.
If you find a house you want to buy you can always attempt to make an offer contingent on your home selling. This can be difficult depending on the market you're in but it happens. If your home is already under contract this isn't that big a deal.
The key is to find an experienced broker in your area who knows what they're doing, they are the ones that can either make this work relatively easy or who can make the entire experience misery. Take the time you need to find a great Realtor, it's well worth the effort.... more
Each individual is slightly different based on circumstances, credit scores, income, assets etc but in general it's going to take at least a couple of years before you'd be abel to be considered for a mortgage after a foreclosure.... more