A move-up homebuyer is a buyer who currently owns a home and is looking to purchase a bigger and/or more expensive property.

There are a few key factors to consider when you are deciding to move into your next/larger property.

Down Payment

Move-up buyers often use the proceeds from their current property’s sale to cover the down payment of their purchase loan (either in full or in part).

Loan Qualification

If the buyers cannot afford to “carry” both loans simultaneously, they will need to sell their current property before the purchase escrow closes.

Home of Choice

Move-up buyers who cannot qualify for both loans concurrently need to add a “Home of Choice” contingency to their listing offer.

Concurrent Closing

When move-up buyers are successful in finding their home of choice, they often try to schedule a concurrent closing whereby they move directly from their current property into the new property without interruption. If a concurrent closing cannot be scheduled, it becomes necessary to create a “lease back,” find temporary housing, short-term rental, and/or storage options.


When making an offer to purchase, a buyer who must sell their current home (in order to qualify for their new home) would want to make the offer “contingent upon the sale of buyer’s home.” This makes the offer slightly weaker, but it also protects the them from losing their good faith deposit.

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