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    • tomryan89
    • By tomryan89 4th Mar 17, 10:41 AM
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    tomryan89
    How to sell and then buy
    • #1
    • 4th Mar 17, 10:41 AM
    How to sell and then buy 4th Mar 17 at 10:41 AM
    Hi All - I tried some searching but couldn't find any clear answers so hoping you could all chip in with some advice!

    We own a flat in London which we have strated the process to extend the lease on as it has about 82 years left to run.

    This week we saw a house outside of London that looks perfect for us and our future plans.

    I'm worried because we seem to be the wrong way round. The house we have seen is already on the market but our Flat is not. We haven't even spoken to an estate agent yet etc.

    So should we first put our Flat in the Market and then look for a house or is it possible to find a house and then put the Flat on the market.

    Like, say we put an offer on this house we love. Is the seller likely to hang around while we find an estate agent, and then hopefully a buyer, on our end?

    Has anyone had experience of doing it this way round ? I guess the ongoing lease extension is going to cause a problem too?
Page 1
    • Doozergirl
    • By Doozergirl 4th Mar 17, 10:45 AM
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    Doozergirl
    • #2
    • 4th Mar 17, 10:45 AM
    • #2
    • 4th Mar 17, 10:45 AM
    You need to get your place on the market.

    The lease extension can run similtaneously with marketing and the conveyancing process, so don't worry about completing that first, as long as the lease is extended, it can even be finalised minutes before exchange/completion.
    Everything that is supposed to be in heaven is already here on earth.
    • Davesnave
    • By Davesnave 4th Mar 17, 3:25 PM
    • 23,677 Posts
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    Davesnave
    • #3
    • 4th Mar 17, 3:25 PM
    • #3
    • 4th Mar 17, 3:25 PM

    Like, say we put an offer on this house we love. Is the seller likely to hang around while we find an estate agent, and then hopefully a buyer, on our end?
    Originally posted by tomryan89
    They may do, at least until someone who's a better bet than you are comes along.

    However, if the property is popular, even being on the market may cut no ice with a vendor who has their own agenda.

    Some of us here may have found ourselves in a similar position to you. In my experience, it doesn't end well, but there's no harm in trying.
    'A society grows great when old men plant trees whose shade they'll never sit in.'
    • hazyjo
    • By hazyjo 4th Mar 17, 5:08 PM
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    hazyjo
    • #4
    • 4th Mar 17, 5:08 PM
    • #4
    • 4th Mar 17, 5:08 PM
    I doubt they'd take it off the market for you, and their EA will prob advise them not to take you too seriously. That only seems to make it more appealing to others. Human nature!

    It also gives you very little wriggle room on what you sell for or making any offers on what you buy.

    It's hard, but I'd wait.
    2017 wins: Opera tickets; film preview; lipstick; Ideal Home Show tickets + afternoon tea & bottle of Champagne; 2 cases of NKD; notebook; bath rack; books; film Premiere; Broadchurch DVDs; lipbalms; hamper (food/wine/Echo Dot/Jo Malone goodies); Avon lippies; cowhide rug; Windsor luxury break, foundation; Flybe flight
    • tomryan89
    • By tomryan89 11th Mar 17, 8:08 AM
    • 44 Posts
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    tomryan89
    • #5
    • 11th Mar 17, 8:08 AM
    • #5
    • 11th Mar 17, 8:08 AM
    Hi everyone thought I would come back to provide an update!

    It's been a very busy week - our flat is now on the market, we've had our offer accepted on the house we love, our mortgage broker arranged an agreement in principle, the lease extension process is underway, out solicitors have been instructed to work for us on both selling and buying.

    Now just waiting for our first viewing to booked!
    • Davesnave
    • By Davesnave 11th Mar 17, 8:37 AM
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    Davesnave
    • #6
    • 11th Mar 17, 8:37 AM
    • #6
    • 11th Mar 17, 8:37 AM
    Thanks for updating us.

    Have your vendors taken the property off the market, or are they still marketing it?
    'A society grows great when old men plant trees whose shade they'll never sit in.'
    • tomryan89
    • By tomryan89 11th Mar 17, 8:48 AM
    • 44 Posts
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    tomryan89
    • #7
    • 11th Mar 17, 8:48 AM
    • #7
    • 11th Mar 17, 8:48 AM
    No worries, although everyone in this thread did stress me out a bit! Haha!

    They've put it as STC on the EA's site and as 'under offer' on zoopla etc which I thought was fair based on the fact we need to find a buyer for our flat.

    I've also been assured that no further viewings will be booked.

    Do you also think that's fair?

    I'll probably look to insist it's completely off the websites once surveys are booked and we are further along. Do you think that is realistic?
    • Davesnave
    • By Davesnave 11th Mar 17, 9:10 AM
    • 23,677 Posts
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    Davesnave
    • #8
    • 11th Mar 17, 9:10 AM
    • #8
    • 11th Mar 17, 9:10 AM
    No worries, although everyone in this thread did stress me out a bit! Haha!

    They've put it as STC on the EA's site and as 'under offer' on zoopla etc which I thought was fair based on the fact we need to find a buyer for our flat.

    I've also been assured that no further viewings will be booked.

    Do you also think that's fair?

    I'll probably look to insist it's completely off the websites once surveys are booked and we are further along. Do you think that is realistic?
    Originally posted by tomryan89

    To be honest, I think it's more than fair, as you are still unproceedable.

    Showing the level of commitment you have is good, though.
    'A society grows great when old men plant trees whose shade they'll never sit in.'
    • GDB2222
    • By GDB2222 11th Mar 17, 9:49 AM
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    GDB2222
    • #9
    • 11th Mar 17, 9:49 AM
    • #9
    • 11th Mar 17, 9:49 AM
    I would not take my house off the market for you, so you're doing very well.
    No reliance should be placed on the above! Absolutely none, do you hear?
    • skintpaul
    • By skintpaul 11th Mar 17, 9:54 AM
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    skintpaul
    I would get lease extended first, or potential buyers wont bother.
    breathe in, breathe out- You're alive! Everything else is a bonus, right? RIGHT??
    • tomryan89
    • By tomryan89 11th Mar 17, 10:29 AM
    • 44 Posts
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    tomryan89
    Yep we are getting the lease extended and paying for it out of completion monies
    • Mickygg
    • By Mickygg 11th Mar 17, 12:56 PM
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    Mickygg
    Wow if I were you I wouldn't make any more demands to take house completely off market until you are under offer.

    You are lucky to have the house under offer given you are not proceedable. I'd never do this as it could take you months to find a buyer. However the seller may not have found a place yet so could be why they are happy with you not being proceedable.
    • tomryan89
    • By tomryan89 11th Mar 17, 1:06 PM
    • 44 Posts
    • 20 Thanks
    tomryan89
    Yeah it seems to have worked out quite nicely so far - the sellers have not found anywhere they like yet.

    Our flat is in zone 2 London so it shouldn't take us long to find a buyer
    • Becsie
    • By Becsie 11th Mar 17, 8:03 PM
    • 8 Posts
    • 5 Thanks
    Becsie
    I strongly advise you to just keep it in the back of your mind that the dream house is not yours until the keys are in your hot little hand. Fingers crossed for you, you have done very well to get the house under offer when you are not under offer yourselves!
    • tomryan89
    • By tomryan89 11th Mar 17, 8:40 PM
    • 44 Posts
    • 20 Thanks
    tomryan89
    I've got massive hands!

    But yes, you are right of course. I know that so much could still go wrong and I need to keep things moving with pace my end to keep the sellers happy.
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