What is a contingent offer, and does it hurt my chances of getting a home?

It depends on your risk tolerance and timeline flexibility. Selling first removes the risk of carrying two mortgages and makes your next offer stronger (non-contingent), but can create a housing gap if your next purchase takes longer than expected — a rent-back agreement on your sale is the most common way to solve that gap.

A rent-back agreement lets you sell your home and then continue living in it for an agreed period afterward — often 30 to 60 days — while paying the new owner rent. It gives sellers time to find and close on their next home without needing temporary housing in between.

A bridge loan is short-term financing that uses the equity in your current home to fund a down payment on your next home before your current home sells, letting you make a non-contingent offer. Whether it's worth it depends on the loan's cost and terms versus how much a non-contingent offer improves your odds on a specific property — this is a numbers-specific decision best made with your lender.

As early as possible — ideally before you start seriously touring homes to buy, and definitely before you list your current home. The available options (rent-back, contingent offer, bridge financing) work best when built into your strategy from the start rather than negotiated under pressure after a deadline appears.