When you upgrade your home, it’s easy to focus on what you’ll sell for and what you can afford to buy. The closing dates deserve the same attention. If you’re counting on money from your sale to buy the next place, even a one-day gap can change how you need to plan the move.
Here’s how I work through it with clients buying and selling in Hamilton and Burlington.
Start with the money you need for the purchase
Before we commit to a closing date, I want to know how much you expect to have left from your sale after paying off your mortgage and covering selling costs. Then I want your lender and lawyer to confirm when those funds need to be available for the purchase.
For example, if you sell on June 26 and buy on June 29, you have time between closings, but you still need a plan for where you’ll stay and where your belongings will go. If you buy on June 26 and sell on June 29, you may have time to move in gradually, but you’ll need to know how you’re funding the purchase before your sale closes.
Plan the move around when you’ll actually get the keys
Closing on the same day can work. I still ask clients to plan for the possibility that they’ll need to be out of their current home before they get the keys to the next one. That matters when you’ve booked movers by the hour, have kids or pets to get settled, or need an elevator reservation.
If a short overlap would make the move easier, we can ask for it while we’re negotiating. That’s also the time to check the financing and see what the overlap would cost.
Negotiate the dates alongside the price
A buyer might offer a price you’re happy with but want your home sooner than you can move. A seller might accept your price and need another week before they can hand over the keys. I look at how each proposed date affects the other deal before I recommend accepting or countering.
I also show clients how my low commission listing fee and any buyer rebate they qualify for affect the numbers across both transactions. I keep any cooperating buyer brokerage fee on the sale separate in that breakdown.
If you’re thinking about upgrading, we can map out what you need from the sale, what you’re comfortable spending on the purchase, and which closing dates would make the move work.