I hope this finds you in good healh and Spirit.
There is a product that is still used but very tough to qualify for called a Bridge Loan.
The concept is its a short term loan to be paid in total at the close of escrow on your current home.
The issue is that you will have to qualify for the new mortgage, your old mortgage, the bridge loan and all other month debt (car payments etc.) to be under 50 percent of your current mothly income. Most people don't qualify.
The best practice would be to sell your current home with a purchase contingency which means that you will place your home on the market and when you receive and accept an offer it is under the condition that you find a suitable home to purchase. There are some draw backs to that but its best to get a better understanding of your situation.
You can also place an offer on a home contingent upon selling your current home. The idea is that when you place the offer it is contingent on you selling your current. If accepted you are given some time to sell your current and keep a home from getting away. There are some draw backs also to this that can be dicussed in detail when you contact me
Please feel free to call me if you have any questions either by email of phone.
If you are interested in learn more about your neighborhoods market condition you can always go to my website http://www.southlandpropertyvalues.com
for a free market market report.
Gary R. Edmonds