Navigating the dual process of selling and buying a home at the same time can be daunting, especially in a competitive housing market like New York City. In a recent article, New York City real estate attorney Natalia A. Sishodia (https://sishodia.com/how-to-sell-and-buy-a-house-simultaneously-in-2022/) offers detailed advice to help individuals understand what to expect and how to make informed decisions during these concurrent transactions.
As the real estate market evolves in 2025, many individuals are finding themselves in situations where they need to sell a current home while also purchasing a new one. According to Natalia A. Sishodia, a New York City real estate attorney at Sishodia PLLC, having legal support during this time can help people avoid common pitfalls and ensure that both transactions are properly handled. "There are plenty of reasons why you could be considering selling your house and buying a new one at the same time in 2025, such as relocating for work or seeking more space to accommodate a growing family," Sishodia explains.
Timing and preparation are key when managing two major real estate moves simultaneously. A New York City real estate attorney like Natalia A. Sishodia can help buyers and sellers clarify financial elements, such as closing costs and potential tax implications. These details can affect the success and timing of both deals. Sishodia PLLC assists clients with preparing necessary documentation, reviewing contracts, and coordinating all stages of the sale and purchase to maintain compliance and reduce the risk of delays.
Closing procedures are a critical focus of Sishodia’s guidance. Buyers are advised that the average real estate closing in New York City can take up to 90 days from the time a contract is signed. As Natalia A. Sishodia outlines, the buyer’s attorney plays a major role in this timeline, from ordering title checks to resolving liens, preparing financial statements, and communicating with co-op boards and mortgage lenders. These tasks are crucial for keeping both transactions on track and avoiding legal issues later in the process.
Sellers in New York City also face a range of financial responsibilities. Natalia A. Sishodia details that closing costs for sellers may exceed 8% of the sales price. These expenses include real estate commissions, city and state transfer taxes, legal fees, and in some cases, specific obligations for foreign nationals or out-of-state residents. A New York City real estate attorney can assist in understanding these fees and determining whether exemptions or certificates may apply to reduce the burden.
There are also strategic considerations when a seller agrees to cover the buyer’s closing costs. While this may help speed up a sale or secure a favorable offer, Natalia A. Sishodia outlines several drawbacks. These include inflated listing prices, reduced flexibility in negotiations, and additional documentation. Furthermore, when the appraisal process considers a higher sale price, complications may arise if the property does not appraise for the agreed amount. Legal oversight from an experienced attorney can help sellers weigh these risks carefully.
Buyers must be ready to manage their own share of closing expenses, which can range from 2% to 5% of the property price. These costs may include lender fees, mortgage recording taxes, attorney fees, title insurance, and the mansion tax for properties priced at $1 million or more. Natalia A. Sishodia advises buyers to assess whether they can afford a new purchase before selling their existing home. Lenders often scrutinize the borrower’s ability to carry two mortgages, and buyers may need to consider options like bridge loans or home equity lines of credit if the timing between transactions is tight.
Market conditions also play a role. If properties are moving quickly, buyers might feel more confident buying before selling. However, in slower markets, the risk of carrying two properties becomes more significant. According to Natalia A. Sishodia, a New York City real estate attorney, weighing these factors with guidance from a legal and financial team is essential for making sound choices.
Attorney Natalia A. Sishodia emphasizes that whether buying, selling, or managing both, a thorough legal review and careful planning are key. She notes that her role at Sishodia PLLC includes helping clients understand every part of the process, from initial negotiations to the final closing day. Her goal is to minimize disruptions and ensure a legally secure transaction from beginning to end.
With more than half of home sellers in 2025 also buying another property, the demand for knowledgeable legal support continues to grow. For those navigating the challenging New York City real estate market, legal guidance is not just helpful but often essential to avoid setbacks and financial missteps.
About Sishodia PLLC:
Sishodia PLLC is a New York City-based law firm offering legal services related to real estate transactions. Led by attorney Natalia A. Sishodia, the firm provides guidance for both buyers and sellers navigating the NYC property market. The team supports clients throughout all phases of real estate transactions to help achieve smooth and legally compliant closings.
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