It is not unusual to sell a Boston downtown condo and buy another and end up closing on both on the same day while moving out of one and into another. It happens all the time and it usually works out. It can get really complicated if the home you are selling is being purchased by someone who is also selling their home.
Possession is generally written into the contract and it is best if the new owners get possession immediately after the closing but that isn’t always possible. It is especially important that parties communicate with each other and work out compromises. It is also a good idea to avoid using phrases like “you must” or ” I have to have”.
There really is no “must”. Both parties need to agree.
Buying and selling a Boston condo at the same time
Having said that, if you currently own a Boston Beacon Hill condo and you want to sell your current home and buy a new downtown Boston high rise condominium, what is your best strategy for the transition? Sell first and buy? Or buy first and sell? There is really no answer to a point where I can generalize which is usually better for anyone. It really depends on this question below.
How quickly will your current Boston condo sell?
Depending on how quickly your current Boston condo will sell, you can move forward more quickly with your offer to buy a home.