I am going to try to answer your question Tracey the best I can based on the information I have!
The best is always to either have sold/closed on your current home, with your money in hand ready to buy the next home.... Short of that, it is of course possible to make an offer on a home while yours is on the market for sale with a home sale contingency if the owner/seller of your new home accepts that condition/term....
But that could mean that if another buyer comes a long without a home sale contingency that you will be asked to remove yours, if you then cannot do so, because your house does not yet have a contract or...... Then you
will lose the new home, because the Seller then can accept the other offer without a home sale contingency!
So you need to discuss your particular situation carefully with your Realtor and potentially also with your
lender.... In this market where there are more properties than buyers a seller may just accept a home sale contingency, but the Realtor will be your best recommendation when it comes to pricing and preparing your current home, so that it will go under contract, and you may price it lower than you would like!
Good Luck to you!
Edith Karoline YourRealtor4Life! & Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients....