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Dallas homeowner reviewing new construction floor plans next to a For Sale sign outside their current home.

How to Build a Contingency Plan When Selling and Buying New in Dallas | Refind Realty DFW

October 23, 20254 min read

How to Build a Contingency Plan When Selling and Buying New in Dallas

By Steven J. Thomas

Dallas homeowner reviewing new construction floor plans next to a For Sale sign outside their current home.

Direct Answer

A contingency plan keeps your move smooth when you’re selling your current Dallas home and buying a new one at the same time.


The goal: avoid double payments, temporary housing, and missed opportunities.
You can do this by planning financing, timing, and sale options before you list — not after.

In short: know your numbers, secure pre-approval, and choose a sale strategy that protects your timeline.

Why Contingency Planning Matters in DFW

Dallas–Fort Worth’s market remains active, but balancing two transactions is a common challenge.
Buyers often ask: “Should I sell first or buy first?”
The right answer depends on your home equity, new construction timeline, and local inventory levels.

Without a plan, you risk:

  • Carrying two mortgages.

  • Selling too early and needing short-term housing.

  • Missing your preferred new build because of financing delays.

The good news? You have structured programs and data tools that make it easier than ever.

1. Start With Your Home Equity and Market Value

Knowing what your current home is worth sets the foundation for your plan.

📊 Use my Home Seller Score to understand:

  • Market timing and local demand.

  • Estimated sale range.

  • Recommended selling approach (cash, bridge, or traditional).

Once your equity position is clear, your lender can design a transition strategy that fits your build or purchase goals.

2. Get Pre-Approved Early

Pre-approval clarifies whether you can qualify for your next home before selling your current one.

Through Get Pre-Approved, we review:

  • Your equity release options.

  • Bridge or temporary loan programs.

  • Debt-to-income ratios factoring your current home.

💡 Tip: Even if you plan to use equity from your sale, pre-approval helps builders and sellers take your offer seriously — especially if your current home isn’t under contract yet.

3. Explore Flexible Selling Programs

Contingency programs help you unlock your next home without pressure.

Cash Offer

Sell fast to an institutional buyer and move on your timeline.

HomeSwap Program

Buy your next home first with a short-term bridge loan, then sell your current home after you move out.

SureSale

Pre-inspect and market your home with a cash-backed guarantee that speeds up closing.

Sell and Stay

Close your sale, then lease the home back for up to 60 days while your new build finishes.

Compare all options here: Home Selling Options

4. Time the Sale With Your Builder or Seller

If you’re building new, confirm your estimated completion window early.
Most new construction contracts include 30–60 days of flexibility depending on weather and permitting.

Structure your sale timeline backward:

  1. Completion Date: Target move-in window.

  2. Closing Date: 2–3 weeks before completion.

  3. Listing Date: 30–45 days before closing.

This ensures your sale proceeds and loan are ready without rushing your buyer or builder.

📘 Download the New Construction Home Guide for a detailed walkthrough of the build-and-sell timeline.

5. Keep Backup Housing Options Ready

Even well-planned transactions can face delays. Prepare a “Plan B” so you stay flexible.

Options include:

  • Short-term rental or Airbnb for 2–4 weeks.

  • Extended stay hotel near your new neighborhood.

  • Sell and Stay program for a post-closing leaseback.

This backup gives you breathing room if the builder or buyer timeline shifts.

6. Protect Your Financing Contingency

When you make an offer on a new home, your contract may include a home sale contingency — meaning your purchase depends on selling your current property first.

To strengthen your offer:

  • Keep your current home listed and active.

  • Price competitively using current MLS data.

  • Provide proof of pre-approval and equity.

  • Shorten your closing window if possible.

Strong preparation helps your offer stand out, even in competitive Dallas submarkets.

7. Communicate Constantly

Coordination between your agent, lender, builder, and title company is essential.
Weekly check-ins prevent surprises and keep both deals on track.

At Refind Realty DFW, I manage both sides — sale and purchase — under one process, minimizing timing gaps and communication errors.

Example: The DeSoto Move-Up Buyer

A family in DeSoto wanted to move into a new Highland Home in Midlothian.
We used the HomeSwap Program to buy first, staged their old home, and listed after they moved out.
Result:

  • Sold in 9 days.

  • Closed both homes within 72 hours.

  • No double payments or temporary housing.

This type of coordination is exactly why having a contingency plan matters.

Conclusion

Selling and buying new in Dallas doesn’t have to feel overwhelming.
With the right plan, you can align both timelines, protect your financing, and move into your next home with confidence.

Start by evaluating your home’s readiness with a Home Seller Score, explore your flexible sale options, and get pre-approved before you list.

📈 Get Your Home Seller Score
🏠 Compare Home Selling Options
📅 Book a Home Goals Consultation


Key Takeaways

  • Start with your home value and equity position.

  • Secure pre-approval early to strengthen your offer.

  • Use structured selling programs (HomeSwap, SureSale, Sell and Stay).

  • Sync your builder timeline with your sale date.

  • Keep a short-term backup housing plan ready.

  • Constant communication keeps both closings aligned.

Dallas home contingency plan sell and buy new home home swap Dallas Refind Realty DFW Steven J Thomas Realtor Dallas move-up buyers DFW new construction selling guide
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Steven J Thomas
Dallas realtor


Owned and Operated by Thomas & Thomas Financial Group, LLC

Steven J. Thomas

Steven J. Thomas has been in the financial services industry for the past 19 years and started my career as a Financial Planner for American Express Financial Advisors. I entered into banking with JP Morgan Chase as personal banker in 2003 and was promoted several times up to Small Business Specialist. I earned multiple Million Dollar Club awards and was ranked in the top 5 Small Business Specialist before I branched out in 2005 to start my own Financial Management Company. I ran a successful company before family circumstances lead me to Wachovia Bank in 2008 where I worked as a Senior Financial Specialist. As a Sr. Financial Specialist; I was responsible for the P & L and revenue growth of my banking center. The elimination of my role thru a bank merger lead me to BBVA Compass. I have held various leadership roles at BBVA Compass including Personal Relationship Manager, Branch Retail Executive, Workplace Solutions VP, and his current role as a Retail Manager. As the Regional Workplace Solutions VP, I was responsible for the strategic, tactical, and execution of Partnership Banking relationships, promotion and activity with corporate and non-profit companies in my footprint. I was responsible for the acquisition production for three districts, which includes 51 banking centers and over 300 employees. In May of 2014, I joined the team at Refind Realty and became one of the managing partners in mid-2015.

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I used this realtor and it was a great experience. He was patient and very helpful with our journey. He also helped us find a great lender with little hassle on the process, also got us approved for well above the market of our original home so we were able to get more house with a lower mortgage rate. So to anyone who is interested in buying a home take my advice give Steven a call. It’s worth it 😁

Bryant Loring

Steve was absolutely amazing! Everything was easy! Very professional in all aspects. Punctual, responsive, and diligent. He goes above and beyond to ensure you get to see as many homes as you’d like no matter the location. Not only was he knowledgeable about home buying, he also has a resourceful network for new home owner needs. I recommend Refind Realty to everyone!

Nicholas Bishop

I definitely recommend Steven to assist with your home buying needs. As a first time home buyer the process can be overwhelming, but as my realtor he was knowledgeable & patient while addressing my concerns and assisting me with my new home purchase. Thanks again Steven!! :-)

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Ask Us Anything

Frequently Asked Questions

Why do you need a Realtor?

When buying or selling a home, there are so many options…which can also present a lot of obstacles. Laws change, forms change, and practices change all the time in the real estate industry. Because it’s our job to stay on top of those things, hiring a realtor reduces risk, and can also save you a lot of money in the long run.

When you work with me as your Realtor, you’re getting an expert who knows the area; knows how to skillfully guide your experience as a seller or buyer; can easily spot the difference between a good deal and a great deal. My job is to translate your dream into a real estate reality, and I work hard to earn and keep my business. This also means earning your trust: When you work with me, you’ll be working with a realtor who looks out for your best interests and is invested in your goals.

Which loan should you choose?

There are two different types of loans conventional loans and government-backed loans. The main difference is who insures these loans:

1 - Government-backed loans (FHA, VA and USDA):

(a) - Are, unsurprisingly, backed by the government.

(b) - Include FHA loans, VA loans, and USDA loans.

(c) - Make up less than 40 percent of the home loans generated in the U.S. each year.

2 - Conventional loans

(a) - Are not backed by the government.

(b) - Include conforming and non-conforming loans (such as jumbo loans).

(c) - Make up more than 60 percent of the loans generated in the U.S. each year.

What is the difference between FHA, VA and USDA loans?

1 - FHA LOANS:

FHA loans, which are insured by the Federal Housing Administration, are typically designed to meet the needs of first-time homebuyers with low or moderate incomes. FHA loans can be approved with a down payment of as little as 3.5 percent and a credit score as low as 580.

FHA loans are often called “helper loans,” because they give a leg up to potential borrowers who may not be able to secure one otherwise. For this reason, FHA loans have maximum lending limits, which are determined based on housing values for the county where the for-sale home is located.

Because the agency is taking on more risk by insuring FHA loans, the borrower is expected to pay mortgage insurance both at the time of closing and on a monthly basis, and the property must be owner-occupied.

2 - VA LOANS:

VA loans are backed by the Department of Veterans Affairs and they are guaranteed to qualified veterans and active-duty personnel and their spouses. VA loans can be approved with 100 percent financing, meaning VA borrowers are not required to make a down payment.

Unlike FHA loans, borrowers do not have to pay mortgage insurance on VA loans.

3 - USDA LOANS:

You may also hear about USDA loans, which are backed by the United States Department of Agriculture mortgage program. USDA loans are intended to support homeowners who purchase homes in rural and some suburban areas. USDA loans do not require a down payment and may offer lower interest rates; borrowers may have to pay a small mortgage insurance premium in order to offset the lender’s risk.

What’s a conventional loan? Understanding what it means to be conforming and non-conforming

Buyers who have a more established credit history and a larger down payment may prefer to apply for a conventional loan. These loans may offer a lower interest rate and only require the home buyer to purchase monthly mortgage insurance while the loan-to-value ratio is above a certain percentage, so a conventional loan borrower can typically save money in the long run.

Conventional loans are divided into two types: Conforming loans and non-conforming loans.

1 - CONFORMING LOANS:

Conforming loans are those that meet (or conform to) predetermined standards set by Fannie Mae and Freddie Mac — two government-sponsored institutions that buy and sell mortgages on the secondary market. By selling the loans to "Fannie and Freddie," lenders can free up their capital and return to issue more mortgages than if they had to personally back every loan that they approve.

The main standard for conforming loans is that the amount borrowed must be under a certain amount; in Alaska, a single-family home loan must be under $647,200 in order to be considered conforming.

Properties with more than one unit have higher limits.

2 - NON-CONFORMING (JUMBO) LOANS:

But what happens if a borrower wants to borrow more than the Freddie- and Fannie-approved loan amount? In this case, they would have to apply for a “jumbo loan,” which is the most common type of non-conforming loan.

Because the lender cannot resell the jumbo loan (or any non-conforming loan) to Freddie Mac or Fannie Mae, jumbo loans are considered to be riskier than a conforming loan. To protect against this risk, the bank will typically require a higher down payment; the interest rate on a jumbo loan may also be higher than if the same borrower applied for a conforming loan.

What kind of rate should you choose?

Rate types: Fixed-rate vs. adjustable-rate mortgages.

In addition to the loan type you choose, you’ll also have to determine if you want a fixed-rate mortgage or an adjustable-rate mortgage (ARM). A fixed-rate mortgage has an interest rate that does not change for the life of the loan, so it provides predictable monthly payments of principal and interest.

An adjustable-rate mortgage typically offers an initial introductory period with a low-interest rate. Once this period is over, the interest rate adjusts periodically, based on the market index. The initial interest rate on an ARM can sometimes be locked in for different periods, such as one, three, five, seven, or 10 years. Once the introductory period is over, the interest rate typically readjusts annually.

Office 1229 E. Pleasant Run Ste 224, DeSoto TX 75115

Call :(713) 505-2280

Site: www.stevenjthomas.com