Many people need to sell their home and relocate to a new home due to a change in life circumstances. Some assume that they cannot shop for or purchase a new home until their existing home is sold. While this may be true in certain circumstances, it is not always the case. In a lot of cases people can make offers on new properties contingent upon the sale of their existing home.
In fact, in some cases borrowers can actually buy a new home BEFORE their existing home is sold. It is all a function of their budget and debt-to-income ratios. A seasoned mortgage consultant can help you determine which path is best.