How do you buy a new home before selling your old one in Scottsdale, Arizona?

There are three ways. You can borrow against the equity in your current home, with a bridge loan or a home equity line of credit, so you have money for the new purchase before the old home sells. You can write your offer so it depends on selling your current home first, which is called a home sale contingency. Or you can sell first and arrange somewhere to live until you buy.

I'm Jen Keene, a REALTOR® with eXp Luxury in Scottsdale, AZ, and I'm the agent people call at every stage of their life. Below is what the Consumer Financial Protection Bureau (CFPB), Credit Karma, SoFi, Chase, Redfin and Opendoor say about each option, with the source named next to each fact.

This is general information, not legal, tax or financial advice. These are national guides and none of them is specific to Arizona, so a lender can tell you what applies to your loan and your home. I couldn't reach the Arizona REALTORS contract language, so I'm not describing how the Arizona form words any of this. I checked each source on November 9, 2026.

A bridge loan is a loan that covers the gap between buying your new home and selling your current one. Credit Karma and SoFi both describe it that way, and SoFi says it is also called a swing loan or gap financing. The money can go toward the new purchase, such as the down payment and closing costs, and the loan is usually repaid from the sale of the old home.

Your current home is what secures it. Credit Karma and SoFi both say the lender uses your current home as collateral, which is why the lender looks at how much equity you have in it. If you're wondering about bridge loans in Arizona in particular, I didn't find a source that treats Arizona differently, so the lender you talk to is the one who can say which bridge loans they offer.

Credit Karma and SoFi both say a lender wants to see equity in your current home, plus strong credit and steady finances, and Chase says the better your credit, the better your chances of qualifying. The exact amount of equity and the other requirements depend on the lender, so I'm not going to quote a number.

Whether it's a good idea depends on your numbers, and a lender is the person to run them with you. What I can tell you is what the sources name as the main risk. Credit Karma, SoFi and Opendoor all say a bridge loan costs more than a standard mortgage, and Credit Karma and SoFi both say that if your old home hasn't sold when the loan comes due, you still owe it, so you could be paying on two or three loans at once. Because your current home secures the loan, both also say that if you can't keep up with the payments, the lender could foreclose on the home you were trying to sell. I'd ask the lender to put the full cost and the repayment terms in writing before you decide anything.

A home equity line of credit, or HELOC, is another way to borrow against the equity in your current home. The CFPB describes it as a line of credit, like a credit card, except you're borrowing against the equity in your home, and says you can borrow repeatedly up to a maximum amount. SoFi describes it the same way, as borrowing as needed up to a limit, and lists it as an alternative to a bridge loan.

The CFPB says HELOCs usually have adjustable interest rates, so your payments can change, and that if you fall behind or can't repay on schedule, you could lose your home. SoFi adds that a HELOC may come with closing costs and a prepayment fee, and that many lenders won't open one on a home that's already listed for sale. That last point is SoFi's wording alone, so ask a lender how it treats a home you plan to list. For a HELOC in Arizona, I found nothing that differs by state, so what a lender here offers and what it requires is a question for the lender.

A home sale contingency is a term the buyer adds to the purchase agreement that makes the purchase conditional on selling the buyer's current home. Redfin and Opendoor both describe it that way, and Redfin says it is often used to protect buyers from owning two homes at once. The seller can accept it, turn it down or negotiate it.

The seller is the one taking on the uncertainty, and both sources say so. Redfin says the sale depends on the buyer and that a contingency can't offer timing certainty, and Opendoor says accepting one means the seller takes on some risk and delay. Opendoor adds that sellers who have competition often prefer offers without contingencies, and Redfin says a seller might decline or negotiate when there are other offers or when the buyer hasn't listed their own home. Opendoor says a seller is more likely to say yes when the buyer's home is already listed or under contract, and Redfin says the same when it is under contract or likely to sell quickly.

Both also mention a kick-out clause, which lets the seller keep marketing the home while the contingency is in place. Redfin says that if a better offer comes in, the original buyer has to drop the contingency or walk away.

Selling first removes the question of owning two homes. Chase says the greater majority of consumers have to sell one before they can buy one, and that some buyers can't cover the down payment on a new home until the old one sells. The difficulty moves to where you live in between. Redfin and Chase both describe a rent-back, where you rent your old home from the buyers for a set time after closing. The buyers have to agree to it, and Chase says it won't work if they need to move in on a specific date.

If a rent-back isn't possible, Redfin and Chase both list a short-term rental, and Redfin also lists a furnished place, a longer lease, an extended-stay hotel and staying with friends or family. Redfin points out that you'll probably need storage if your belongings aren't going with you. Moving twice and paying for a short-term place are the costs of this route, and the sources don't put a number on either.

From the seller's side, a home sale contingency is the one that adds uncertainty, for the reasons above. A bridge loan or a HELOC can be a way around it. Credit Karma says a bridge loan can let a buyer make an offer without a financing contingency, which can appeal to sellers, and Opendoor lists a bridge loan and a HELOC as alternatives to a contingent offer. That's Credit Karma's wording on the offer itself, so ask your lender what an offer backed by one would need to say. If you've already sold, your offer doesn't depend on a sale at all.

When we write the offer, I'll walk you through how the seller is likely to read it before anything is signed.

Here's how financing works when buying a home, and here are the mortgage options for buying in Scottsdale. If you're moving into something smaller, I've written about downsizing from a family home in Scottsdale, and about whether to sell your house in 2026 or wait.

If you're planning a move and want to talk through the buying side, get in touch or call me at (480) 203-6605. Which option fits you is a question for your lender, and a lender can run your numbers.