For those on a tight budget and need the sales proceeds from the sale of your current home to pay for the purchase of your new one, the challenge of matching the payment timings of the transactions can be a major hassle.
One Solution would be to make use of a Bridging loan to help with purchase of the new property which can be applied from the banks. Most banks are able to offer a Bridging Loan to help with exercising your Option to Purchase, downpayment, legal fees and stamp duties. The standard repayment term is usually up to six (6) months. It is important to speak with an experienced broker on how to best utilise this facility.