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Buying house before selling current home?

How are folks buying homes while they currently have a house with mortgage? Offer contingent upon sale? I’m assuming this type of offer isn’t competitive with other offers…

Looking to get some advice on my scenario —

  1. Current home equity around $400k, will list and sell.
  2. Purchase new home with $250k-$300k down (from the $400k proceeds)
  3. $50k-75k remodel on new house prior to moving in.

The timing to accomplish all this seems very tight unless I simply move in while the remodel is happening. Lease back would have to be 1-2 months, so that might turn off some buyers.

Is there anything I’m missing? There may be an opportunity to leverage family to help bridge the timing gap. If so, what would that look like? Assuming it can’t be an all cash deal.

Thanks!

submitted by /u/seven0seven
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source https://www.reddit.com/r/RealEstate/comments/14hlz0b/buying_house_before_selling_current_home/
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