Which order could work for you?
Before we start matching dates, work out what you could manage if the first plan takes longer. A purchase budget built on an optimistic sale price can become uncomfortable quickly.
| Question | Sell first | Buy first |
|---|---|---|
| What do you know? | Your agreed sale price and sale closing date, subject to the agreement. | The home you intend to buy and its purchase closing date, subject to the agreement. |
| What remains uncertain? | Where you will move and what that purchase or rental will cost. | When your existing home will sell and the funds it will release. |
| What might cost extra? | Temporary accommodation, storage and a second move if dates do not line up. | Overlapping carrying costs, financing and preparation while the sale is unresolved. |
| What needs checking first? | Whether acceptable replacement homes or temporary options fit your budget. | Whether the lender can approve the actual scenario, including a delayed sale. |
| What would change the plan? | Few suitable homes, limited rental options or an inflexible household schedule. | A lower sale result, longer marketing period or unavailable financing. |
What money can you actually access?
Write down cash available now, the purchase deposit required under the agreement, and funds expected only when your sale completes. Those are different dates. A deposit held for your sale is not automatically spending money for your purchase. Ask your lawyer when funds become available and your lender what can be advanced.
Would bridge financing solve the gap?
Bridge financing may help when the purchase closes before funds arrive from your sale. It is a separate lending decision, with its own eligibility, costs and timing limits. For example, RBC states that a firm sale agreement is required for its bridge loan. Do not assume a bridge can fund an open-ended wait for a buyer. Get written terms from your own lender before committing to dates.
How will the two closing dates connect?
Have your lawyer and lender review the intended dates before they become commitments. Same-day closings can still involve a wait for funds and keys. A short overlap may make moving easier, but it needs approval, insurance and a budget. The date you hope to move and the dates written into the agreements both need attention.
Bring these three answers to Chris.
What monthly cost would still feel manageable? What date is truly fixed? Where could you stay if the dates do not line up? Bring those answers, even if they are rough. We can compare the housing options while your lender and lawyer confirm the financing and legal details.
Check the details
These sources explain rules, services and responsibilities. Confirm the details for your property and circumstances with the appropriate professional.
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