re: Buying a new house - wait or sell current house first?

Just went through this, we went under contract on new purchase before listing ours. A lot of factors went into this decision. 1) We knew our house would sell quickly, extremely hot market. 2) We had cash for the downpayment of new house and were prepared to float both mortgages if necessary.

Luckily, it all worked perfectly. Our house sold in 7 days and we were able to close on both same day. You do lose leverage on the sale negotiating purchase price and inspection response, knowing you can't have the deal fall through. But that lost leverage is worth it to not find short-term housing.