Buying and Selling at the Same Time - Here's How to Make It Work

Thinking about upgrading or downsizing your home?  You’re not alone and it’s completely normal to feel overwhelmed. Selling and buying at the same time can feel like a juggling act, but with the right strategy (and the right team in your corner), it’s achievable.

Here are a few tips on how to make it work, without the stress.

Timing Traps & Settlement Delays

One of the biggest challenges when buying and selling simultaneously is aligning the two settlements. If your sale settles before your purchase, you could be left scrambling for temporary accommodation. If your purchase settles first, you might need access to funds that are still tied up in your current property.

People tend to settle both transactions on the same day and that makes for one busy settlement day.

Settlement delays can happen for all sorts of reasons, finance, paperwork issues, or complications with the other party’s transaction. That’s why it’s so important to build flexibility into your plan and have a conveyancer who can help you negotiate the right terms from the start.

Smart Strategies That Actually Work

Here are some practical options to help you move forward with confidence

• Sell with a longer settlement (e.g. 90 Days)
  A longer settlement gives you breathing room to find your next home, understand your budget, and avoid rushed decisions. It’s a great option if you want to sell first and buy with clarity.

• Know your budget early
  Once your current home is under contract, you’ll have a clearer picture of your available funds. This helps you shop smart and avoid overcommitting.

• Purchase subject to the sale of your current home

  You can make an offer on your purchase subject to the sale of your current home.  Allow a longer settlement time, like 90 days and get the terms of the offer confirmed in writing.

•  Use a Deposit Bond instead of Cash
  If your funds are tied up in your current property, a Deposit Bond can be a great solution. It acts as a guarantee to the seller that you’ll pay the deposit at settlement without needing upfront cash. Deposit Bonds are backed by reputable insurers and offer security without the hassle of transferring large sums. For vendors, it means fewer delays and a smoother transaction especially when the buyer’s finances are solid but temporarily inaccessible.

• Consider an Access Licence
  If the home you are purchasing is already vacant, an access licence can allow you to move into your new home before settlement. It’s a short-term agreement that gives you early access, great for avoiding double moves or temporary rentals. It’s a good idea to negotiate early access before you sign the contract.  I can assist with this.

• Explore Bridging Finance
  Bridging loans can help cover the gap between buying and selling. They’re short-term loans that give you access to funds for your new purchase while you wait for your current property to settle. They’re not for everyone, and interest rates can be a little high, but in the right circumstances, they can be a helpful tool.

Why Your Conveyancer Matters More Than Ever

Coordinating two transactions at once requires precision, communication, and a deep understanding of the legal requirements. That’s where I come in.

As a licensed conveyancer, I specialise in helping clients navigate complex property moves with clarity and confidence. I can help you:

• Review and negotiate contracts to protect your interests

• Liaise with agents, brokers, and other conveyancers to keep both deals aligned

• Flag potential risks early and offer practical solutions

• Keep you informed every step of the way, no jargon, just clear advice

• Whether you're upgrading, downsizing, or just exploring your options, I’m here to make the process seamless and stress-free.

Additional Tips to Help You Navigate the Move

• Get pre-approval early
  Before you list your current home, speak to your broker or lender about pre-approval for your next purchase. This gives you a clear idea of your borrowing capacity and helps you act quickly when the right property comes up.

• Work with a local agent who understands your timeline
  A good real estate agent can help you coordinate your sale and purchase timelines, negotiate flexible terms, and keep both sides moving smoothly. Local knowledge is key, especially in Ballarat’s market.

• Have a backup plan (just in case)
  Even with the best planning, things can shift. Consider short-term accommodation options or speak to your lender about bridging finance early, so you’re not caught off guard if settlements don’t align perfectly.

• Understand the emotional side of moving
  Whether you’re upsizing or downsizing, moving can stir up emotions, especially if you’ve lived in your current home for years. Give yourself time to process the change, and don’t rush decisions just to “get it over with.”

• Don’t forget the hidden costs
  Budget for things like removalists, cleaning, minor repairs, building and pest inspections and rate adjustments. These can add up quickly and are often overlooked in the excitement of buying and selling.

Checklist for Selling & Buying at the Same Time

• ✅ Engage a conveyancer to coordinate both transactions

• ✅ Get your current home listed with a trusted agent

• ✅ Negotiate a long settlement (e.g. 90 days)

• ✅ Know your budget, get pre-approval and estimate sale proceeds

• ✅ Explore Deposit Bonds if your cash is tied up

• ✅ Consider an access licences or bridging finance

• ✅ Keep communication open between all parties

• ✅ Have a backup plan for temporary accommodation

Ready to Chat?

If you're thinking about making a move, let’s talk. I’d love to help you map out a plan that works for your timeline, your budget, and your future goals.  Give me a call - 0403 470 756.