Most people who have to sell their house will move into an apartment and put their excess in storage while they look for the new house.
There’s always relocation expense so its just a matter of how to handle it.
If you take a more aggressive approach:
Banks offer “bridge loans” if you are in a jam with having to wait for a close on your old house while you purchase the new house – that awkward gap time of no money as you are tied to both houses. This is where the bank will put up the cash for you to buy the new house while you wait for the money to come from the old house. Your collateral is the expected payment from the old house.
If your housing market is sluggish, you can try rent to own, or renting it out period for a fixed period of time until you can sell it. Many times people only want short rentals.
I would use a reputable professional to handle everything since you will not be living in the same area.
Most people who have to sell their house will move into an apartment and put their excess in storage while they look for the new house.
There’s always relocation expense so its just a matter of how to handle it.
If you take a more aggressive approach:
Banks offer “bridge loans” if you are in a jam with having to wait for a close on your old house while you purchase the new house – that awkward gap time of no money as you are tied to both houses. This is where the bank will put up the cash for you to buy the new house while you wait for the money to come from the old house. Your collateral is the expected payment from the old house.
I think you answered your own question…sell your house.
If your housing market is sluggish, you can try rent to own, or renting it out period for a fixed period of time until you can sell it. Many times people only want short rentals.
I would use a reputable professional to handle everything since you will not be living in the same area.