There’s a good chance you will. There are more homes on the market now than in past years.

Look at “days from listing to closing” for your area. Pricing and presentation of your home matter now more than ever. There are homes that sell quickly and others that sit for months or even go stale and expire.

I see homes that sell where sellers leave money on the table every month. Overpricing is one of the most common ways to do so. Additionally, not taking care of deferred maintenance can play a huge role in negotiations with a buyer, leaving you with less money to walk away with. Look at how many sellers paid seller concessions and repairs, and the median amounts they paid.

There are ways to lower this risk. Just like in the previous question, addressing any deferred home maintenance is extremely important. So is requiring the buyer’s earnest money to become non-refundable after their due diligence period, and checking the strength of the financing a buyer presents when they make an offer. Just because someone has a pre-qualification letter from a lender doesn’t mean they can close. In the off chance your deal does fall through, your home goes back on the market and your agent keeps working to find a well-qualified buyer. Look at how many sellers paid for repairs. Repairs often come up after the inspection, and they’re one place a deal can stall.

Look at “days from listing to closing.” Plan your next purchase around it. Once you get a buyer, they will begin their inspection (due diligence) period. I always coach my clients to wait until that period is ironed out and all negotiations are set. From there, you make an offer on the home you want. There is some crossover in the timelines, and all parties are made aware of it so you have a smooth transition.

A higher rate doesn’t always mean a payment you can’t handle. Here are a few things that can help:

• Your income may be a lot higher now than when you bought your current home. If so, you may be fine with a higher payment.
• You may have a lot of equity in your current home. That can go toward a large down payment on your next home, which can lower your monthly payment.
• New construction often comes with a lower-than-market interest rate.
• Some homes have an assumable mortgage. That means you may be able to take over the seller’s loan and their rate, which can help keep your payment comfortable.

Ask your lender which of these could work for you. If you need a trusted lender, there are several local professionals on my trusted service providers page.