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Batty | In what order do you do things when moving house? |
I don't know yet if I want to move because I don't know if there is anything I want to buy. If there isn't, I will stay put.
DO I:
1. Put my house on the market AFTER finding somewhere I want to buy?
For example, Can I make viewings for houses without having my house on the market yet (then put my house up for sale and make an offer IF I find something)?
OR
2. Put my house on the market BEFORE I have looked and found somewhere I want to buy?
For example, do I have to have my house up for sale with lots of interest in it before I can make viewings on other places (meaning I could make an offer if I find somewhere and the vendor knows I am likely to sell soon)?
Please help, I don't know which order I'm supposed to do this. Which way round did you do it?
Additional Details
My problem is that I don't want to move for the sake of moving, and am very willing to stay here if there is nothing worth buying (I want to move to a better area but prices there mean it is difficult to find anything any larger than my current house at affordable prices). So I'm worried that I'll have sold my house but will be unable to find anywhere new I want to live. |
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philip_g_marshall
|
I went through all this 18 months ago, granted the market was more bouyant then but some properties are still selling quickly even in todays market.
I would put your house on the market before you do anything.
Then start looking at properties, but in all honesty you aren't in a position to put a serious offer in until your house is has an offer unless you can afford two properties at once. At this stage you can really just get an idea of what you want, or maybe shortlist some for when yours is sold.
You could put an offer it before yours is sold, the offer may even be accepted but anyone coming in without a property to sell or with a buyer already then your offer will be rejected even if already accepted. From a sellers point of view this is the list of offers which beat others in order.
1. First time buyer (or those with no property to sell)
2. Have a property to sell but have a offer on it already
3. Have a property to sell but haven't had an offer
4. Have a property to sell that isn't on the market
The higher up that list you go the more likely your offer is to be accpected and the better position you are in as a buyer.
Offers 3 and 4 are pretty worthless offers and you will lose out if a buyer 1 or 2 comes along. If you are a buyer number 2 and a buyer 1 comes along most people will stick with your offer, unless the property is very high in demand.
Always remember even signing contracts is worthless until the exchange of contracts takes place.
The best way is to actually sell your house, move into rented or parents while look for and buy your next property. Chains are an absolute nightmare.
Good Luck !!! |
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Longhaired Libertarian
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I put my house on the market first, then started looking at other homes after we had a viable offer. |
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Shakey Jakey
|
Christen evry room in the house(new home)
Leave a floater in the bog(old home)
Leave pubes in the shower and plugs(old home) |
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K B
 |
There is nothing to stop you looking around at places before you have sold your house, but you may find this route leads to heartbreak, or at least frustration! The trouble is that when you have a property to sell, and no buyer lined up, the vendor of a property you want to buy may not take your offer that seriously. they may accept your offer in principle, but not agree to stop marketing their property until you have a buyer for yours. This means, obviously, that in the mean time someone else could come along and snap up the house you've fallen in love with, especially if they are in a better position than you (first time buyers, or already sold theirs).
Really you are best finding a buyer for your property first, and then you will know exactly what you can afford to buy as well. You can always find a way to delay things a few weeks if you find a buyer but can't find anywhere to move to. Solicitors and conveyancers are GREAT at delaying, believe me. |
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kc's girl
 |
i would put it on the market and look at the same time just due to the fact that homes are sitting for months before selling. and if you look at the same time you will know how much you need to make off your sale to purchase your new home
good luck on your sale ans new home purchase |
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suerye
 |
Its best to put your house on the market first, especially in today's climate where it may be hard to sell. There is nothing to stop you going to view properties before you have sold, but a vendor will probably not accept any offer you may make until you have sold. |
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ste_pej
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You can do this either way....
At the moment it is a buyers market. ie there are more houses on the market than there are buyers which means your property could take a long time to sell.
If you were to find a property you really liked and made an offer that was accepted before you put your house on the market you are leaving yourself open to someone in a better position (ie having already sold their house) making the same (or better) offer so you lose the house you really want.
Put your property on the market first, there are plenty of houses out there and you'll be in a better position when you've got an offer on yours |
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Mrs HarleyBrat
|
first - talk to a loan officer to see if you qualify for a mortgage you'd want - then talk to a Realtor (free to talk-negotiate commission to list it) they can do comps to find out if your home will even sell and if so for what price. I wouldn't look for a new home until you get an offer on yours - simply put - if you find a home you like first - then yours doesn't sell - you're disappointed (unless you want to carry 2 mortgages) At least once you have an offer on your home - then go shopping - there's too many homes out there so I don't think you'd have any trouble finding a home at all.
Good Luck |
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Frostycat
|
Speaking as someone who works in an Estate Agency, there are no hard and fast rules - it's up to you, but bear in mind that if you don't have an offer on your property nobody will take any offers you make seriously. Even if an offer is verbally accepted, we always advise our vendors to leave the house on the market and continue with viewings because the person who has made the offer might not find a buyer for theirs. In the current climate, it's surely best to sell yours first. With the credit crunch you might not find a buyer for it very quickly and it would be a disaster to lose one you had set your heart on. |
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mojo1969
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If i were you i would start looking at homes now, but not put in offers right now, the housing market has fallen for salers, so unless you are going to get what you have put into your house when you sell it , then i wouldn't sell right now, wait until the market turns around and the value of your home increases, but then if you find a house and have not sold yours and the market turn then most likely the home you are looking to buy will also go up in value and you will not be able to purchase the home for the cheaper price. so unless you can carry two mortgages over a very long period of time, it is not worth it. |
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