diff --git a/peer.go b/peer.go
index e141cd6c..9a6b792e 100644
--- a/peer.go
+++ b/peer.go
@@ -458,7 +458,7 @@ func (p *peer) loadActiveChannels(chans []*channeldb.OpenChannel) error {
 // disconnected if the local or remote side terminating the connection, or an
 // irrecoverable protocol error has been encountered.
 func (p *peer) WaitForDisconnect() {
-	<-p.quit
+	p.wg.Wait()
 }
 
 // Disconnect terminates the connection with the remote peer. Additionally, a
@@ -475,8 +475,6 @@ func (p *peer) Disconnect(reason error) {
 	p.conn.Close()
 
 	close(p.quit)
-
-	p.wg.Wait()
 }
 
 // String returns the string representation of this peer.
diff --git a/server.go b/server.go
index 945fd9a6..519f7ebe 100644
--- a/server.go
+++ b/server.go
@@ -93,6 +93,13 @@ type server struct {
 	// disconnected.
 	ignorePeerTermination map[*peer]struct{}
 
+	// scheduledPeerConnection maps a pubkey string to a callback that
+	// should be executed in the peerTerminationWatcher the prior peer with
+	// the same pubkey exits.  This allows the server to wait until the
+	// prior peer has cleaned up successfully, before adding the new peer
+	// intended to replace it.
+	scheduledPeerConnection map[string]func()
+
 	cc *chainControl
 
 	fundingMgr *fundingManager
@@ -178,11 +185,12 @@ func newServer(listenAddrs []string, chanDB *channeldb.DB, cc *chainControl,
 		sphinx:      htlcswitch.NewOnionProcessor(sphinxRouter),
 		lightningID: sha256.Sum256(serializedPubKey[:]),
 
-		persistentPeers:        make(map[string]struct{}),
-		persistentPeersBackoff: make(map[string]time.Duration),
-		persistentConnReqs:     make(map[string][]*connmgr.ConnReq),
-		persistentRetryCancels: make(map[string]chan struct{}),
-		ignorePeerTermination:  make(map[*peer]struct{}),
+		persistentPeers:         make(map[string]struct{}),
+		persistentPeersBackoff:  make(map[string]time.Duration),
+		persistentConnReqs:      make(map[string][]*connmgr.ConnReq),
+		persistentRetryCancels:  make(map[string]chan struct{}),
+		ignorePeerTermination:   make(map[*peer]struct{}),
+		scheduledPeerConnection: make(map[string]func()),
 
 		peersByPub:             make(map[string]*peer),
 		inboundPeers:           make(map[string]*peer),
@@ -1299,6 +1307,20 @@ func (s *server) peerTerminationWatcher(p *peer) {
 	// peer termination watcher and skip cleanup.
 	if _, ok := s.ignorePeerTermination[p]; ok {
 		delete(s.ignorePeerTermination, p)
+
+		pubKey := p.PubKey()
+		pubStr := string(pubKey[:])
+
+		// If a connection callback is present, we'll go ahead and
+		// execute it now that previous peer has fully disconnected. If
+		// the callback is not present, this likely implies the peer was
+		// purposefully disconnected via RPC, and that no reconnect
+		// should be attempted.
+		connCallback, ok := s.scheduledPeerConnection[pubStr]
+		if ok {
+			delete(s.scheduledPeerConnection, pubStr)
+			connCallback()
+		}
 		return
 	}
 
@@ -1489,8 +1511,23 @@ func (s *server) InboundPeerConnected(conn net.Conn) {
 		return
 	}
 
+	// If we already have a valid connection that is scheduled to take
+	// precedence once the prior peer has finished disconnecting, we'll
+	// ignore this connection.
+	if _, ok := s.scheduledPeerConnection[pubStr]; ok {
+		srvrLog.Debugf("Ignoring connection, peer already scheduled")
+		conn.Close()
+		return
+	}
+
 	srvrLog.Infof("New inbound connection from %v", conn.RemoteAddr())
 
+	// Cancel all pending connection requests, we either already have an
+	// outbound connection, or this incoming connection will become our
+	// primary connection. The incoming connection will not have an
+	// associated connection request, so we pass nil.
+	s.cancelConnReqs(pubStr, nil)
+
 	// Check to see if we already have a connection with this peer. If so,
 	// we may need to drop our existing connection. This prevents us from
 	// having duplicate connections to the same peer. We forgo adding a
@@ -1501,6 +1538,7 @@ func (s *server) InboundPeerConnected(conn net.Conn) {
 	case ErrPeerNotConnected:
 		// We were unable to locate an existing connection with the
 		// target peer, proceed to connect.
+		s.peerConnected(conn, nil, false)
 
 	case nil:
 		// We already have a connection with the incoming peer. If the
@@ -1526,13 +1564,10 @@ func (s *server) InboundPeerConnected(conn net.Conn) {
 		// execute for this peer.
 		s.removePeer(connectedPeer)
 		s.ignorePeerTermination[connectedPeer] = struct{}{}
+		s.scheduledPeerConnection[pubStr] = func() {
+			s.peerConnected(conn, nil, false)
+		}
 	}
-
-	// Lastly, cancel all pending requests. The incoming connection will not
-	// have an associated connection request.
-	s.cancelConnReqs(pubStr, nil)
-
-	s.peerConnected(conn, nil, false)
 }
 
 // OutboundPeerConnected initializes a new peer in response to a new outbound
@@ -1568,6 +1603,15 @@ func (s *server) OutboundPeerConnected(connReq *connmgr.ConnReq, conn net.Conn)
 		return
 	}
 
+	// If we already have a valid connection that is scheduled to take
+	// precedence once the prior peer has finished disconnecting, we'll
+	// ignore this connection.
+	if _, ok := s.scheduledPeerConnection[pubStr]; ok {
+		srvrLog.Debugf("Ignoring connection, peer already scheduled")
+		conn.Close()
+		return
+	}
+
 	srvrLog.Infof("Established connection to: %v", conn.RemoteAddr())
 
 	if connReq != nil {
@@ -1591,6 +1635,7 @@ func (s *server) OutboundPeerConnected(connReq *connmgr.ConnReq, conn net.Conn)
 	case ErrPeerNotConnected:
 		// We were unable to locate an existing connection with the
 		// target peer, proceed to connect.
+		s.peerConnected(conn, connReq, true)
 
 	case nil:
 		// We already have a connection open with the target peer.
@@ -1620,9 +1665,10 @@ func (s *server) OutboundPeerConnected(connReq *connmgr.ConnReq, conn net.Conn)
 		// execute for this peer.
 		s.removePeer(connectedPeer)
 		s.ignorePeerTermination[connectedPeer] = struct{}{}
+		s.scheduledPeerConnection[pubStr] = func() {
+			s.peerConnected(conn, connReq, true)
+		}
 	}
-
-	s.peerConnected(conn, connReq, true)
 }
 
 // UnassignedConnID is the default connection ID that a request can have before