How a San Diego agent helped clients sell in Chula Vista and buy in Clairemont at the same time!

A Chula Vista couple sold their single-family home and bought a single-family home in Clairemont to shorten one spouse's commute. After falling out of escrow once and losing a second home to competing offers, they negotiated a third property down $30,000. Using a sale contingency, their Chula Vista home closed August 26, and their Clairemont home closed August 31, on time, with no gap in housing.

Why were they moving to Clairemont?

One spouse's job made the decision simple: Clairemont's central location put them close to where he worked, cutting a commute that no longer made sense from Chula Vista. Clairemont's location, central to San Diego, was part of the draw beyond just the shorter drive.

What made buying and selling at the same time so hard?

The hardest part wasn't the sale. It was finding a home to buy while that sale was in motion. My clients went through three different properties before one actually worked. The first fell out of escrow over an easement issue. The second, they lost to a multiple-offer situation after getting outbid. It took a third property, one that was priced above what it should have been, to finally get them into contract.

How did they land the third home after being outbid once already?

After losing the second home to competing offers, we widened their purchase price range so they weren't boxed out again. That opened up the third property, but it was overpriced for what it was. We negotiated the price down $30,000 and got the offer accepted.

What went wrong on the Chula Vista sale?

Right when we needed the sale to move forward cleanly, a code violation surfaced: an unpermitted item that required a clear title document from the City before the sale could close. The seller was able to provide what was needed to clear it, and the sale stayed on track.

How did we avoid a gap between selling and buying?

We structured the Clairemont purchase with a sale contingency tied to the Chula Vista closing, and used the proceeds from that sale toward the Clairemont purchase with a conventional loan. From there, it came down to managing both escrows closely: tracking the title issue on the Chula Vista side, staying in contact with the lender to confirm they were ready to fund, and keeping the two closing dates lined up. Chula Vista closed August 26. Clairemont closed five days later, on August 31.

FAQ

Do I need to sell my current home before I can buy a new one? Not necessarily. A sale contingency lets you make an offer on a new home while your current sale is still in progress, with the purchase tied to that sale closing. That's the structure we used for these clients, closing their sale five days before their purchase.

What happens if I fall out of escrow on the home I'm trying to buy? It's stressful, but it doesn't mean the plan falls apart. My clients fell out of escrow once over an easement issue and lost a second home to a multiple-offer situation before their third offer was accepted. The key is staying in the market and adjusting your approach, like widening your price range, rather than starting over from scratch.

Can a title or permit issue actually stop a home sale? It can hold things up if it's not addressed. This Chula Vista sale hit a code violation that required a clear title document from the City before the sale could close. Once the seller provided what was needed, the sale moved forward on schedule.

Is it common to negotiate the price down on an overpriced listing? Yes, especially when a home has been priced above what comparable properties support. This client's third property was overpriced, and negotiating it down $30,000 is what made the numbers work for them.

About the Author

Hazel Rosete is a real estate agent serving San Diego, California and the surrounding communities, including Chula Vista and Clairemont. She has experience coordinating same-time sale-and-purchase transactions, including managing sale contingencies, title and escrow issues, and multi-offer situations, to keep clients on schedule and in their new home without a gap.