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Hey {{first_name}},
Well, that was a weekend.
A week ago the Bears hung 59 on Carolina. Sunday they lost 9-3 to Minnesota, and Caleb Williams went down with a hamstring injury in the fourth quarter. Tyson Bagent came in and nearly led a comeback.
At least there's baseball. The Cubs and White Sox are both in the playoff picture, and the postseason starts Sept. 29.
Anyway, all of it got me thinking about a problem a lot of you run into when it's time to move.
You want to buy a new house, but you can't really afford it until you sell the one you're in. So which comes first?
If you sell first, you might end up with nowhere to live, or you might watch the house you wanted go to somebody else. If you buy first, you could be paying two mortgages until yours sells.
There's no free option, but there is a right one for your situation. This week I'll walk you through the four ways to do it and how to pick. (I break down stuff like this on video too, over on my YouTube channel, if that's more your speed.)
Why This Is Harder Than It Used to Be
The median single-family home in Lake County sold for $435,000 in August, up 6.0% from a year ago.
Say you owe $300,000 at 3.25%. That's about $1,306 a month in principal and interest. Buy a median-priced home with 20% down and you're borrowing $348,000. At 6.5% (an example rate; ask your lender for today's quote), that's about $2,200 a month.
That's roughly $890 more, every month, before taxes and insurance. Own both homes for two months and you've paid roughly $4,400 in extra principal and interest alone, before utilities, taxes, insurance, and moving costs.
Run your own number before you fall in love with a house, not after. Fannie Mae's free mortgage calculator is a good place to start.
What the Lake County Numbers Say
In August, Lake County single-family homes averaged 33 days on the market and sold for 100.0% of their last list price. Supply sits at 1.9 months.
Translation: if you do the right work, selling your house is usually the easier half. Winning the next one is harder. Contingent offers are getting accepted again, but they're still the toughest offer to get accepted.
New listings are up 4.5% from last year while homes going under contract are down 8.9%, so there's a bit more room than a year ago. Not a lot. For the longer view, read Is Fall 2026 a Good Time to Buy or Sell in Lake County, IL?
Pick Your Path in 30 Seconds
Can you comfortably carry two payments for 60 to 90 days? Yes: Path 2. No: keep reading.
Can your home be listed this month? Yes: Path 1 or 4. No: get it ready first.
Is your price range getting multiple offers? If yes, Path 3 is a long shot. Contingent offers are getting accepted again, but it's still the hardest one to win.
The Four Paths
Path 1: Sell first, then buy
You know your exact proceeds before you shop
You shop with no home-sale contingency
Risk: you may need somewhere to live in between
Fix: ask for a longer closing on your sale, or a short rent-back where you stay a few days after closing
Path 2: Buy first, then sell
No deadline pressure on your sale, so you can price it properly
Your lender counts both payments unless you provide the executed sales contract for your current home and confirmation that any financing contingencies have cleared (conventional loans; ask your lender to confirm)
A HELOC has to be in place before you list, since a lender won't approve one after your home is on the market, and approval can take two to six weeks
Bridge loans can carry high interest rates and often require about 20% equity, but they work when timing is tight
Path 3: Buy with a home-sale contingency
Your purchase depends on selling your current home
Sellers here are accepting these again, but it's still the hardest offer to get accepted
At 1.9 months of supply, a seller can still afford to say no, so everything else about the offer has to be clean: strong price, solid pre-approval, flexible terms
A home that's priced right and prepped can carry a shorter contingency window, which makes the offer easier to say yes to
Expect a kick-out clause: the seller keeps marketing, and if a better offer comes in, you get a short window to remove the contingency or walk
Path 4: Coordinated closings
Sell and buy on the same day, or back to back
Risk: it's a row of dominoes. One late lender or one failed inspection and everything slides
Works best with a cushion built into the dates
Ask Your Lender
Do I qualify for the new payment with my current mortgage still counted?
What documents let you leave my current payment out?
How long does a HELOC or bridge loan take, and what does it cost?
Not sure who to ask, or what the answers mean? Book a call and we'll go through them together.
The Playbook
Step 1: Get your real number.
Ask for a pricing opinion on your current home
Subtract your payoff and selling costs
The trap: don't count your sale price as money in the bank. It arrives on closing day, minus your payoff and your costs
Lake County homes averaged 100.0% of last list price in August, so price for what's actually happening, not what you hope for
What's Your Home Worth Right Now?
Get a quick estimate of your home's value here: Get my home value
It's a starting point, not a price. I'll check it against what's actually selling near you, and I'll see the request, so expect to hear from me.
Step 2: Talk to a lender before you tour.
Use the questions in the callout above
Ask for the answer in writing
Step 3: Do the right work on your house, starting now.
Price to what's actually selling, not what you hope for
Repairs, cleaning, and decluttering before photos
Professional photos and flexible showings
The sooner it's ready, the more options you have on every path
Step 4: Pick your path and write the offer with a safety valve.
Extended closing, contingency, or rent-back, depending on your path
Know your walk-away date before you write it
Step 5: Build the calendar backward.
Homes here averaged 33 days on the market. Add your closing period and you have your real timeline
Add cushion for attorney review, inspections, and lender timing
Step 6: Plan the move.
Storage, and a place to sleep if the dates slip
Nobody plans this part, and it's the part everybody remembers
Questions About Easy Exit or the Home Buyer Protection Plan?
See how Easy Exit Marketing works when you're selling, and how the Home Buyer Protection Plan works when you're buying. Or book a call and I'll walk you through both.
Putting It Together
Say you go with Path 2. Before you write an offer, your lender confirms you qualify with both payments. The offer goes in with a 60-day close, and you list your home the following week.
Set your fallback before you start. If it isn't under contract in 30 days, you cut the price. Make that call now, not in week four.
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The Big Picture
The people who get hurt aren't the ones who picked the wrong path. They're the ones who picked a path with no backup for the day something slips.
Something usually slips. Bagent nearly won it on Sunday. That's what a backup plan is for.
One Small Ask: If you know someone who's thinking about a move, forward them this email. It could save them a lot of headaches.
And if you're weighing a move yourself, talk it through with me before you fall for a house.
Next week: what the property-tax revolt means for your bill.
Until next week…
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