It depends on what your goals are and why you would like to sell. If you are in a position where you owe 'less' than market value and selling it would pay off what you owe, you can purchase based on approval terms from the lending institution you choose. If you have to 'short sale' your home, financing your next home will be tough if at all possible because you have to be about 2-3 years out of selling your current home before a lender looks at financing you for your next home. Of course, as with any financing, the terms and conditions are subject to the bank approvals. The other option you may have is renting your current home and showing enough income to sustain your current home and then the home you would you like to purchase. Most lending institutions will ask you to show why you are wanting to purchase in the immediate area-for example, an increase in family size would dictate that you would need to find a larger home or a job transfer would dictate a move.
I'm happy to help you determine the best direction to go in based on your situation and financial requirements. And, put you in touch with a well qualified local lender that offers diverse loan options that you may qualify for based on your needs and qualifications.
Please feel free to call me anytime, or, send me the best number and time to reach you at and I'll be delighted to talk with you further.
Angela Geller, Realtor
ABR, GRI, CRS, CDPE