Should I sell before I buy?
What’s stopping you from putting your house on the market in St Ives?
The main concern that we hear time and time again from people who are thinking about moving is that you don’t want to put your home on the market before you've found a property you want to purchase. However, that could work against you…
If you sell now and buy later, it puts you in a stronger position when purchasing your new home.
Selling a property before buying another can increase your bargaining power. When you have agreed a sale on your house, you won’t be in a rush and won’t be pressured into selling for a lower price than you would have liked and, when you buy, you’ll be more attractive to the vendor with that agreed sale. Some vendors won’t even let you view a property if you’re not proceedable (in a position to have the funds to buy the property) or on the market already.
By having the funds from the sale of your property, you can make a stronger offer on a new home. This can give you an advantage in negotiations and increase the chances of getting the home that meets all of your needs. You can take the time to compare different properties, negotiate the purchase price, and get a good deal.
“What if I sell my home and have nowhere to move to?”
Although it can be a leap of faith to start the process of selling before you find your forever home, in our experience it’s rare that anyone actually finds themselves in that position.
To make sure you don’t, follow these tips so you don’t waste time when you do start looking for the house you want to buy:
- Do your research and know what you want. Decide what area you want to buy in and what sort of property you want to buy. Make plenty of visits to the area and talk to locals.
- Take advantage of our Personal Home Find service where we will actively target properties that aren’t even on the market in the area that you’ve chosen to find you your dream home.
- Register for our Heads Up Property Alerts so you're the first to know about new properties coming onto the market.
- Work out your finances and get your mortgage pre-approved as well as choosing a reputable conveyancing solicitor.
- Keep an eye on the property market while you’re selling and find out where prices are supposed to be over the next 12 months so you can plan appropriately.
- If all else fails, you can slow down the selling process by having a longish period between offer and exchanging and between exchanging and completion. This can buy you some more time.
If you’d like more advice about what’s right for you then contact us now.