Write down the four limits of your move
Start with your estimated net sale proceeds, funds available before the sale, acceptable monthly carrying costs and latest workable move date. Confirm the financial assumptions with your lender. Then identify the requirements for the next property that are genuinely essential.
A family seeking a particular layout near an established routine may have less flexibility than a buyer considering several condo buildings. Compare actual suitable homes currently available, and keep a separate record of the properties competing with the home you will sell. Those two searches can behave differently.
Selling first gives you a clearer purchase budget
Once the sale’s conditions are resolved, you have more clarity about the agreed price and timetable. That can make the next purchase easier to plan. The remaining risk is practical: the right home may not be available before you have to leave.
Before choosing this route, price out temporary accommodation, storage and a possible second move. Discuss the desired occupancy date during the sale negotiations, while recognizing that a buyer must agree. Include a backup arrangement you could actually use if the next purchase takes longer.
Buying first needs a funded backup plan
Finding the right property first can be attractive when your search is narrow. It can also leave you carrying two properties or needing sale proceeds before they are available. Ask the lender what you can carry, what approvals remain outstanding and what happens if your sale takes longer or produces less than expected.
If you expect short-term financing between transactions, request written eligibility conditions, costs and deadlines. A conversation about financing is not the same as approval for the specific purchase and dates. Do not remove an offer condition on the assumption that funding will work itself out.
Understand a condition tied to selling your home
The OACIQ’s Annex R provides for a promise to purchase conditional on the sale of the buyer’s property. Whether a seller accepts it depends on the transaction. The wording, deadline, required notices and any right of first refusal need to be explained before signing.
Ask your broker to walk through the exact obligations in your offer. Have a clear answer to “What must I do, by when, and what happens if my property has not sold?” Treat this as a transaction-specific discussion, rather than copying a clause found online.
Put closing and occupancy dates on one calendar
Use separate lines for the sale’s signing date, when its proceeds can be used, the purchase’s signing date and possession of each property. Confirm the funds-transfer timing with the notary and lender. An accepted offer, the deed of sale and the move itself are different steps.
For example, a homeowner moving from a Pointe-Claire house to a condo could agree to sell first but keep an interval before giving possession, if the buyer accepts. Another may need temporary housing. Neither arrangement should be assumed until it is properly agreed and documented.
Compare the two plans before choosing
Ask for two written scenarios: sell first with a backup housing plan, and buy first with confirmed financing and a limit on carrying costs. Add realistic preparation time for your current home to both calendars.
Choose the sequence you can manage if one part takes longer. A property search feels less pressured when the budget, dates and fallback options have already been discussed. Your broker, lender and notary should each confirm the part that falls within their role.