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For downsizers
Most downsizers need the money from the house to buy the next one — and nobody wants to move twice. Answer six questions and see the paths that fit, with today's rates and rules.
Your situation
Six quick answers. The tool ranks the common ways Northern Virginia downsizers handle the timing, with today's numbers. Nothing is saved or sent unless you ask.
Good to know
A buyer with a regular mortgage promises to move in within 60 days of settlement, so most rent-backs (post-settlement occupancy) run 30–60 days. Northern Virginia uses its own form for this — it's not a lease, you pay a daily charge, and staying past the date costs double.
Most lenders won't open a home equity line on a home that's already for sale. If you might buy first, ask your bank before the sign goes up. HELOC rates averaged about 7.3% at the end of September 2026.
Fannie Mae will let a lender leave out your old home's payment once it's under contract with financing cleared, and can count 75% of market rent if you keep it. Your loan officer can tell you which applies.
An offer that depends on selling your home is weaker, but this fall there are more homes for sale and fewer new contracts. With a kick-out clause, the seller keeps marketing, and you get a few days to drop the contingency if another offer comes.
Some companies buy your next home with cash and sell it to you after your old home sells. Fees vary widely (reports range from about 1.9% to 5%) — confirm today's price. Some well-known ones, such as Knock and Orchard, don't serve Virginia.
You can usually exclude up to $250,000 of gain ($500,000 married) if you owned and lived in the home 2 of the last 5 years. Time in a care facility can count if you lived there at least 1 of the 5 years. Ask a tax professional.
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