How to Handle Selling A House and Buying In Another State

Relocation to another state is a common practice among Americans. An average of 8.2 million people move from state to state every year. This is mainly because of better work opportunities or weather conditions. 

Whatever your reason might be, relocating while selling a house is not easy. You have to handle two transactions at once – selling the current house and buying one in another state. 

If you search “sell my house fast in Overland Park” or other area, you’ll find cash home-buying companies willing to purchase your property quickly. The process is very simple and straightforward, too. But if you want to do it the old-fashioned way, there are things to keep in mind. 

Let us tell you exactly what they are and how to handle both transactions smoothly. 

• Understand Your Finances

Before selling or buying, get a clear picture of your finances. Calculate how much equity you’ll get from selling your current home, and determine how much you can spend on a new house. 

Keep in mind extra costs like moving fees, real estate commissions, and potential differences in property taxes. It’s important to avoid underestimating these expenses, as they can quickly add up and affect your overall budget.

• Find a Realtor

Working with a real estate agent in both your current area and the state you’re moving to can streamline the process. The local agent can help you sell your home faster and for the right price, while the out-of-state agent can guide you through buying in an unfamiliar market. 

Their local expertise ensures you make informed decisions on both ends of the transaction.

• Apply for a Mortgage Pre-Approval

When you need financing to buy a new home, obtaining a mortgage pre-approval is a big step. A mortgage pre-approval letter from a lender proves to a seller that you are a legitimate buyer, making your offers more competitive.

It also helps you understand exactly how much you can afford. This gives you realistic expectations during your home search and reduces stress when it comes time to make an offer.

• Manage the Timing

Synchronizing the timing of selling one home while buying another can be tricky. Many people choose to sell their current home first to avoid the financial burden of paying two mortgages. 

However, if you buy before selling, options like bridge loans or contingency clauses can offer flexibility. Proper timing can help you move seamlessly without being stuck between two properties.

• Visit the New Location

Even if you’ve researched online, visiting your new city or neighborhood is essential before making an offer. This gives you a firsthand experience of the area, including factors like commute times, neighborhood vibe, and access to amenities. 

A quick visit can also help confirm your new home fits your lifestyle, which saves you from unexpected disappointments after you’ve already committed to the purchase.

Plan Your Move!

Once your home sale and purchase are finalized, focus on organizing the logistics of your move. Research and hire professional movers or consider a DIY move depending on your budget. 

Ensure that you have a plan in place for transporting valuables, and confirm all moving dates. Proper planning will reduce last-minute stress and help you settle smoothly into your new home in another state.