How to Sell and Buy a Home at the Same Time

Selling one apartment and immediately buying another is a completely feasible task, but it requires careful preparation and precise coordination of all stages. For everything to go smoothly, you need to manage the process competently, consider the legal and financial aspects, and calculate the timing correctly. It's best to entrust this to a professional, but you can do it yourself if you follow a plan. Here's how.

How to Sell and Buy a Home at the Same Time

Step 1: Assess Your Finances First, determine the value of your current apartment. Get the property you want to sell appraised and put it on the market. If time allows, you can use the deposit from the sale to purchase a new home. In this case, it's worth drawing up a preliminary purchase agreement with a long term to ensure everything is completed in time.

Step 2: Plan the Sale and Purchase From a legal perspective, simultaneously selling and buying real estate is completely legal and quite common. The key is to synchronize both processes to avoid time lags or financial losses. Pay special attention to the procedure and the status of your mortgage, if you have one.

If you purchased your first home using tax incentives (e.g., as a "first home"), it's important to purchase a new home within a year of the sale to maintain these incentives.

Practical Steps:

Working with a Single Real Estate Agent

Using a single real estate agent for both home sales and purchases can significantly simplify the process. A single agent better coordinates both transactions, minimizes the risk of confusion, and offers personalized assistance. Choose a reputable company that can evaluate your property, find a suitable purchase option, and efficiently manage the entire process.

What to do if you have a mortgage

If the property you're selling has an existing mortgage, you have several options:

In any case, you'll need a notary and approval from the bank to accurately calculate the remaining debt.

How to sell and buy a home without a realtor

You can sell and buy a home without an agency, but it will require more effort. You will still need a notary to draw up a deed of sale (rogito), which officially transfers ownership.

What you need to do:

How much time do you have to sell your "first home"?

If you used the "first home" purchase subsidies, it is important to sell your old apartment and buy a new one within two years (according to the 2024 Budget Act, effective January 1, 2025). This rule also applies to transactions concluded in 2024.

How to "reserve" a new home without selling your current one

To "reserve" a new apartment before selling your current one, you can:

How much does it cost to sell and buy a home?

Buyer's expenses:

Seller's expenses:

Conclusion

Simultaneous sale and purchase of a home is a complex, but doable process. The main thing is to carefully plan all the steps, manage your time wisely, and, if necessary, enlist the help of professionals. This will help you avoid unnecessary expenses and stress.