Buying and selling a home at the same time can feel like a high-wire act. You want the next place lined up without carrying two homes or moving twice. With a clear plan and the right local team, you can control the timeline, manage costs, and keep stress in check. Here is a step-by-step game plan built for Glendora and the Los Angeles area so you can move with confidence. Let’s dive in.
Why timing matters in Glendora
Glendora sits in the San Gabriel Valley with steady interest from move-up buyers and families. Inventory levels and demand shape how competitive your offers need to be and whether a sale contingency will fly. In tighter markets, contingent offers are less likely to win, so strategy and timing become critical. Before you act, confirm current days-on-market, inventory, and mortgage rates with local sources.
Choose your path: three workable strategies
Sell first, then buy
You list and close your sale before purchasing your next home. This gives you proceeds in hand and reduces financial risk. It can mean a short-term rental or staying with family while you shop. Escrow in California often runs 30 to 45 days, then you begin the purchase process.
Best when you want a stronger purchase position without carrying two mortgages. You avoid bridge financing and can make cleaner offers. Plan ahead for temporary housing and storage so the gap is smooth.
Buy first, then sell
You purchase your next home, then list your current property. You avoid moving twice and lock in the home you want. The tradeoff is qualifying for two mortgages or arranging short-term financing.
Expect higher carrying costs during the overlap. Consider a HELOC, bridge loan, or ample cash reserves. If you use this path, list your current home quickly after you close on the new one to shorten the overlap.
Coordinate both with contingencies or concurrent closings
You make your purchase contingent on the sale of your current home, or you line up closings to occur the same day. This can help you avoid interim housing and a second move. In competitive conditions, contingent offers are less attractive, so strengthen yours with firm dates and clear remedies.
Concurrent closings are possible in California but require tight coordination with lenders, escrow, and title on both transactions. Build in backup dates and communicate early with every party.
Finance the gap without surprises
Bridge loans
A bridge loan taps your equity short term so you can fund your next purchase before your sale closes. These loans often carry higher rates and fees and are usually interest-only with a 6 to 12 month window. They can work well if your current home should sell quickly and you need immediate purchase funds.
HELOC or home equity loan
A HELOC lets you draw on your existing equity for a down payment. Rates can be more favorable than a bridge loan, and you only draw what you need. You must qualify and have sufficient equity.
Use sale proceeds at closing
With a well-timed double escrow, your sale funds your purchase the same day. This option only works when both transactions align and all parties are ready. Confirm lender and escrow cut-off times well in advance.
Qualifying for two mortgages
Lenders look at your debt-to-income ratio, credit, reserves, and loan-to-value. Some require reserves that cover several months of payments for both homes. Get a pre-approval that clearly states the conditions for carrying two loans if needed.
Carrying-cost checklist
Budget for a worst-case overlap of 1 to 3 months. Include the following:
- Mortgage principal and interest on both homes if applicable
- Property taxes and homeowners insurance
- HOA dues if applicable
- Utilities, landscaping, routine maintenance, and vacancy risk
- Moving, storage, and temporary housing
- Brokerage commission and closing costs
- Bridge loan or HELOC interest and fees
Contract tools that reduce risk in LA County
Escrow and title coordination
Escrow acts as a neutral third party and manages instructions, payoffs, and funding. For concurrent closings, confirm payoff statements and verify payoff expiration dates. Set clear target dates and a backup plan if one file slips.
Stronger contingent offers
If you must write a sale contingency, include firm removal dates and a drop-dead date. Consider incentives like a higher price or flexible terms. Earnest money protections should be clear for both sides.
Appraisal, inspections, and HOA docs
Order inspections early. Appraisals and repair negotiations can affect timelines. If the property has an HOA, build in time to review association documents within the statutory periods.
Seller rent-back for smoother moves
A short rent-back lets you remain in the home after closing while you finish your purchase. Define the daily rate, time limit, insurance responsibilities, and any escrow holdbacks. Most rent-backs are short and require clear terms.
Earnest money and remedies
Spell out how and when earnest money is released. For extensions, some contracts include daily fees to keep timelines on track. Use specific dates for contingency removals to limit uncertainty.
Step-by-step timelines you can adapt
Sell-first game plan
- Week 1 to 2: Prep, staging, pricing, and listing launch
- Week 3 to 6: Accept offer and open escrow
- Week 6 to 10: Close sale, move, and begin active purchase search
- Next 30 to 45 days: Offer, escrow, and close on your purchase
Buy-first game plan
- Week 1 to 3: Secure pre-approval, plan financing, begin home search
- Week 4 to 8: Offer accepted and open purchase escrow
- Week 8 to 12: Close purchase, move in, and list your current home
- Next 30 to 45 days: Accept offer and close sale to end overlap
Simultaneous game plan
- Week 1 to 2: Prepare listing and secure purchase pre-approval
- Week 3 to 4: List your home and write offers with clear contingency dates
- Week 5 to 8: Align both escrows with a 7 to 14 day target window
- Week 8 to 10: Close both, with confirmed payoff and funding logistics
Prep checklists tailored to Glendora moves
If you are selling while buying
- Gather payoff statements, estimate net proceeds, and review ownership and use history
- Complete disclosures and collect HOA documents if applicable
- Tackle key repairs and consider pre-inspections to reduce surprises
- Plan temporary housing and storage as a contingency
If you are buying while selling
- Secure a pre-approval that covers two mortgages or bridge financing
- Line up reserves and document assets, income, and debts
- Define your must-haves and acceptable contingency windows
- Be prepared to offer a rent-back to a seller if it helps you win
If you are coordinating same-day closings
- Confirm payoff amounts and expiration dates with lenders
- Align escrow officers and title for both transactions early
- Verify insurance effective dates and utility transfers
- Set a backup plan if one closing slips a day or two
Taxes and local fees to discuss early
Primary residence sellers may qualify for a federal capital gains exclusion, subject to ownership and use rules. California properties are reassessed at purchase under Proposition 13, which affects your future property taxes. A 1031 exchange applies only to investment properties and follows strict timelines. Check Los Angeles County transfer taxes and any city-level fees before you finalize net proceeds, and consult a tax professional for personalized guidance.
When to act and how to decide
Your best path depends on today’s inventory, your financing strength, and your tolerance for overlap. If your equity is strong and timing is tight, a bridge loan or HELOC may help you buy first. If you want the safest financial route, selling first and using a short rent-back can balance certainty with flexibility.
If you want a coordinated plan, local pricing guidance, and market-ready presentation, work with a boutique advisor who blends construction know-how, staging, and strong negotiation. That is where we come in. For a customized game plan and a clear path from list to close, connect with Shannon Brady.
FAQs
How do simultaneous closings work in California?
- Two escrows coordinate so your sale funds your purchase on the same day, which requires aligned lenders, payoff statements, and title logistics.
Are sale contingencies competitive in Glendora right now?
- It depends on current inventory and demand, so verify local conditions and strengthen your offer with firm removal dates and clear remedies.
What escrow length should I expect in Los Angeles County?
- Many escrows close in 30 to 45 days, but cash and well-prepared files can close faster when all parties agree.
What is a rent-back and when should I use it?
- A rent-back lets a seller remain after closing for a set time with agreed daily rent and insurance terms, which can help align move-out and move-in dates.
How much in reserves might lenders require if I carry two mortgages?
- Requirements vary by lender, but some expect several months of payments for both homes, so get a pre-approval that spells out reserve needs.
What is the difference between a bridge loan and a HELOC?
- A bridge loan is short-term financing to cover the gap until your sale closes, while a HELOC taps existing equity and may offer more flexible draws.
What taxes should I plan for when I sell and buy in California?
- Discuss potential capital gains exclusions, Proposition 13 reassessment on your purchase, and county or city transfer taxes with your advisor and CPA.
