Buy Before You Sell: How Upstate Homeowners Can Make a Non-Contingent Offer

A growing option for homeowners who need to buy their next home before their current one sells — and why it’s become more viable as the Upstate market shifts.

Buy-before-you-sell programs let homeowners purchase a new home before their current one sells by removing the existing mortgage payment from their debt-to-income ratio — and sometimes by tapping the equity in their current home with no interest and no payments. The result is the ability to make a stronger, non-contingent offer. Pathway Mortgage has seen this option become increasingly viable as the Upstate market has shifted toward buyers.

The Problem: The Chicken-and-Egg of Selling and Buying

Homeowners who want to move face a familiar bind. To buy comfortably, they usually need to remove their current mortgage payment from the equation — but they can’t do that until their home sells. And they often need the equity from that sale for the down payment on the next home. Selling first can mean moving twice or scrambling to find a new home on a tight clock; buying first can mean carrying two mortgage payments or making a weak, sale-contingent offer.

What a Buy-Before-You-Sell Program Does

These programs are built to break that bind. Here’s how Davis Love describes the mechanics:

“[These products] allow buyers who have a home to sell to remove their current mortgage payment from their debt-to-income ratio, and sometimes actually borrow some of that equity in their current home with no interest and no payments in order to make a non-contingent offer on a new home while their current home is still pending sale.”— Davis Love, Director of Operations, Pathway Mortgage

In practice, that means three things working together: your current mortgage payment is set aside for qualifying purposes, you may access equity to fund the new purchase before the old home closes, and you can present an offer that isn’t contingent on selling first — which is far more attractive to a seller.

Why It Matters More in a Buyer’s Market

This option has become especially relevant as conditions have changed in the Upstate. With more listings and homes staying on the market a little longer, sellers who are also buyers have more breathing room — and the certainty of a non-contingent offer carries real weight.

“As the market has shifted and we’ve seen a little bit more of a buyer’s market, meaning listings are staying on the market a little bit longer, that’s become a very viable option for some folks to be able to go ahead and get into the new home without having to have that sale contingency.”— Davis Love

Is It Right for You?

Buy-before-you-sell tends to fit homeowners who have meaningful equity in their current home and want to avoid the disruption of moving twice or the weakness of a contingent offer. As with any financing tool, the structure and costs vary by program, and you will still need to sell your current home — the program changes the timing and strength of your position, not the underlying need to sell. A local broker can help you weigh whether the trade-offs make sense for your specific move.

Frequently Asked Questions

What is a non-contingent offer, and why is it stronger?

A non-contingent offer isn’t dependent on the buyer selling their current home first. Sellers generally prefer it because it removes a major source of uncertainty — there’s no waiting on another home’s sale for the deal to close — which can make your offer more competitive.

Do I need a lot of equity to use this?

Meaningful equity in your current home is typically what makes these programs work, since the equity often funds the new purchase before the old home sells. Pathway can help you assess whether your equity position supports a buy-before-you-sell approach.

Will I end up paying two mortgages at once?

The point of these programs is to avoid that strain by removing your current mortgage payment from your debt-to-income ratio for qualifying purposes and bridging the gap until your home sells. Program structures differ, so it’s important to understand the specific terms before moving forward.

Who is this best suited for?

Move-up and relocating homeowners with solid equity who want to secure their next home without making a weak, sale-contingent offer or being forced to move twice.

Planning Your Next Move?

If you’re trying to buy your next Upstate home before selling your current one, Pathway Mortgage can help you understand whether a buy-before-you-sell program fits. Reach out to map out your options.

Related reading: “Should You Buy a Home Now or Wait for Rates to Drop?” (pillar guide); “HELOCs and Home Equity Loans”