Buying and Selling a Home at the Same Time in Florida: What's Changed Since Your Last Move

The short answer: Most Central Florida sellers won't accept an offer that depends on selling your home unless your home already has a buyer. Line up your money before you shop. And plan to sign a written buyer agreement before you tour. Those are the three biggest changes since most people last moved. Book a 15-minute call and we'll map out your order of moves.

Buying and selling a home at the same time in Florida works differently than it did on your last move. I've helped people buy and sell in Central Florida full time since 2001, and I see the same thing over and over. Smart, experienced people bring the rules from their last deal. Those rules came from a different place, a different market, and a different year.

You're not alone in that. According to the National Association of REALTORS®, 79% of recent buyers had bought a home before, and the typical seller had lived in their home 11 years. A lot changes in 11 years.

Your Last Move Isn't the Rulebook

Every airport has its own approach chart. A good pilot doesn't land at a new field using the numbers from the last one. Real estate works the same way.

What worked in one area, at one time of year, in one kind of market, may not work where you are now. Markets move between buyer's markets, seller's markets, and frozen ones. The way your last agent handled something may have been normal there. It may not be normal here.

The most common thing I hear is, "My house will sell fast. I'm not worried about it." Maybe. But your neighbor's quick sale isn't a promise about yours. Your house, your price, your timing, and your agent all matter.

Why Most Sellers Say No to "Subject to the Sale of My Home"

The biggest mistake I see from owners is planning to write an offer that depends on selling their current home first.

In my experience, most Central Florida sellers, and most professional listing agents, won't accept that offer unless your home is already under contract with a buyer. Think about it from the seller's side. They'd be taking their home off the market for a buyer who can't close yet. That's not a smart move for them.

Sometimes a contingent offer can work, often with rights to cancel built in. But don't build your whole plan on it. Have your money lined up before you fall in love with a house.

Own a home now and want to buy? Book a 15-minute call with me or call or text (321) 320-7129. We'll sort out which move comes first.

Your Options When You Own a Home and Want to Buy

You have more choices than "sell first and hope." Here are the ones I walk people through:

• Sell first. Clean and simple when homes near you are selling. You may need a short-term place to land.
• Pull equity from your current home. A home equity loan or line of credit can cover the down payment on the new home. In my experience, this usually comes from a bank or credit union, not a builder's lender.
• Use savings or retirement money. Some buyers use savings or their 401(k). Talk to your lender and a tax pro first, so you know the rules and the cost.
• A bridge loan. It can work, but you usually need a lot of equity to qualify. It can also get expensive if your old home doesn't sell in time. Ask your lender what it costs if the old home sits.
• Keep your current home and rent it out. This one surprises people. If you locked a low rate a few years ago, and local rents run well above your payment, renting may beat selling in a slow market. Then sell later, when your neighborhood is moving again.

One rule that recently changed: how lenders count rent from the home you're leaving. On many conventional loans, the lender may use market rent, not your new lease, and that rent may only cover the old home's payment. What worked for a friend a few years ago may not work for you now. Ask your lender how they'll count it before you plan around it. My guide on how to choose a mortgage lender covers what to ask.

Check Your Competition Before You Decide

Before you talk to any Realtor about selling, look at what you're up against. This matters more than any mailer or market update in your mailbox, because those cover a whole area and you're selling one house.

• Active listings: How many homes near you are for sale right now?
• Pending sales: How many went under contract lately?
• Expired or withdrawn: How many gave up without selling?

Here's an example. If 10 homes in your neighborhood are for sale and none has sold in 100 days or more, the area is crowded with competition. Unless you're willing to take a real loss to move, renting it out may make more sense for now.

If you're thinking about renting, interview more than one property manager. Ask what the home would really rent for and what their fees are. Then look at the numbers side by side. If you want to see what your home would sell for, start with my guide to what your St. Cloud home is worth, and read selling your home in Central Florida.

Buying New Construction When You Already Own

Builders do things their own way, and every builder is different. Here's what catches experienced buyers off guard in my experience:

• Big deposits. Many builders ask for 10% or more of the price to hold the home.
• Deposits that are often non-refundable. This isn't like a resale contract. If you can't close, or change your mind, that can be a big chunk of money gone. Read the contract before you sign.
• The builder's lender. Builders often tie their best incentives to their own lender, and many want you approved there first. That's allowed. But look for the catch. It can show up as points or a different rate. If the builder's lender can't approve you, an outside lender can often still close the deal.
• Rate locks come late. A builder's lender often can't lock your rate on day one. In my experience, the lock happens about 30 days before closing. If you're counting on a special rate, get the terms in writing.
• Fast building. Builders build quickly. Hire your own independent inspector, beyond the builder's quality check. Make sure every item gets blue-taped and fixed before you close.

One of my clients, I'll call her Michelle, is a nurse here in St. Cloud. The builder's lender told her no. She didn't give up. She closed on a home from that same builder with a different lender, and used her 401(k) toward the purchase. A "no" from one lender isn't always the final answer.

If your new home won't be done for months, read about buying before or after you move. It covers how incentives can end before closing. For the bigger picture, see new construction vs. resale.

Who Pays the Buyer's Agent Now, and Why the Agreement Comes First

This is the change that frustrates seasoned buyers the most.

On past moves, many people never signed anything with a buyer's agent. They used whatever agent they wanted. They assumed the seller paid the buyer's agent, and that it would never come out of their pocket.

Those days are over. Under the national settlement over agent pay, agents who use the MLS must have a written agreement with you before you tour a home. That goes for in-person tours and live video tours. The agreement spells out what the agent will do and what they'll be paid. It must also say that fees are fully negotiable and not set by law.

The seller or builder can still offer to pay your agent. They may pay all of it, some of it, or none of it. But that offer can't be posted in the MLS anymore. So you can't assume anything. You have to ask on every house.

"What's the going rate?"

There isn't one. Every brokerage sets its own fees, and fees can be negotiated. Agents agreeing on a rate would be price fixing. Think of it like lawyers. One charges $100 an hour, another charges $1,000. The difference is experience and what they can do for you.

More than a door opener

Many buyers picture their agent as the person who unlocks doors, shows houses, and gets paid whatever they get paid. Not their problem. That picture is out of date. In my view, agents who do this job part time gave our industry that reputation. Hire someone who does this full time. You'll see the difference.

What you get in return

A good buyer's agent works for you. The seller and the builder have their own people. Your agent brings the right lenders, inspectors, surveyors and insurance agents, negotiates for you, and handles the contract correctly from offer to keys. A great agent helps you buy the right home in the right area, with your future in mind. You'll have a team helping along the way, but I handle the negotiating and the contract myself.

Here's how I do it. Before you tour a home or talk money with a builder, I tell you my fee. I find out what the seller or builder is offering. And I show you what could come out of your pocket on that home, if anything. No surprises at the closing table.

Agents work in different ways. Some charge a deposit for their time. Some don't. Some charge a fee if you end the agreement early. Ask every agent how they work, and choose the one that makes sense for you. See how I work with buyers on my St. Cloud buyer's agent page.

What to Have Ready for a 15-Minute Call

My first call with you is 15 minutes. Here's what I'll ask, so you can make every minute count:

1. What do you want to do with your current home? Sell it, or rent it?
2. If you sell, what do you think it's worth?
3. Is there a mortgage on it, and about how much is left?
4. Have you talked to a lender about qualifying for the new home?
5. Which comes first? Sell first, or pull equity and buy first, then sell?
6. What's your timeline for the move?
7. Is everyone on the call? If two people are deciding, both should be on the line. Then nobody is left guessing what the other heard.

Take your time choosing who helps you. Know why you're picking them. And don't assume this move will go like your last one.

Frequently Asked Questions

Can I make an offer contingent on selling my Florida home?
You can, but most Central Florida sellers will say no unless your home already has a buyer under contract. A seller doesn't want to take their home off the market for a buyer who isn't ready to close. Line up your money first: equity, savings, a bridge loan, or a plan to rent your current home.

Should I sell my house first or buy first?
It depends on your numbers and your market. If homes near you are selling, selling first can work. If your neighborhood has a lot of homes sitting unsold, buying first with equity or savings, or renting the old home, may be safer. Talk to a lender about both homes before you decide.

Who pays the buyer's agent in Florida now?
You and your agent agree on it in writing before you tour a home. The seller or builder may pay all, some, or none of it. Fees are fully negotiable and not set by law, so ask every agent what they charge and how.

Do I need a buyer agreement before touring a home?
Yes, if your agent uses the MLS. A written buyer agreement is required before you tour a home, in person or by live video. You don't need one just to talk with an agent at an open house or ask about their services.

Do I have to use the builder's lender?
Builders often tie their best incentives to their own lender. In my experience, if the builder's lender can't approve you, an outside lender can often still close the deal. Compare the full cost before you choose.

Can rent from my old home help me qualify for the new one?
Sometimes, but the rules recently changed on many conventional loans. Lenders may count market rent instead of your lease, and it may only offset the old home's payment. Ask your lender how they'll count it before you plan around it.

Cliff Clover, REALTOR® | The Clover Group at eXp Realty, LLC | (321) 320-7129 | Serving Central Florida since 2001. This post is general information and my own experience, not legal, tax, lending or financial advice. Builder contracts, deposits and loan rules vary. Check with your lender, a tax pro or an attorney before you decide.