Sell and buy in 2 months...Is this possible?

Bil2

Hi-

Got a qu for you. I've recently been offered a job in Leeds. I'm looking to sell my current apartment in Manchester and buy a new city centre flat in Leeds in time for my start date in two months (18th Sept)!

Is this possible?

Apartments in my area sell v. fast (within 6 weeks) and the flats that I'm looking at in Leeds have no chains (most are newly built).

Ta for any advice

Bil2

PS- for those of you that were following my earlier thread, my husband agreed to a declaratation of trust and all is well with our relationship. He currently works in Leeds which is why I applied for a job there and which is why we are moving!

Byrneand_2

Whereabouts in Manchester is your flat?

Bil2

On Whitworth Street- why?

Searcher2

Anything is possible.... But it would depend on how much you ask for your property and what position your purchaser is in. For instance I could buy your flat and complete within 6 weeks but you wouldn't like the price! If you want to move fast you may have to compromise on the price a bit.

Byrneand_2

Hi Bil,

Was just wondering where the flat was situated in order to gain an idea of the market and understand how feasible your goal of selling in 6 months is.

When you say sell in 6 weeks is this the average period they are on the market for, before an offer is made?

In my experience of Manchester, the average period from offer acceptance to completion is about two months although it can often take the same time again for an acceptable offer to be made.

In which case depending on your expectations on what you want the property to sell for will determine how long your flat is on the market. If you price the flat sensibly you should have a lot of viewings, which will hopefully lead to an offer.

One issue you may have is the strong competition for flats in the city centre of Manchester. I'm aware that there are many new development in the centre over the last few years and so depending on the age and quality of your flat, it will we determine how saturated your competing market is, and therefore sales time.

You could consider renting out your flat while a sale goes through, although approximately 30% of flats in the centre of Manchester are currently unoccupied and will also tie up much of your capital.

Good luck!!

Lady_Lea

There are loads of investors out there that will buy your existing property at a slightly below market price really fast so that you can move quicker - and the more experienced ones can move very very fast.

My fastest deal had the mortgage offer within 3 and a half hours using Savills Private Finance in London as the mortgage packager (bearing in mind they knew me pretty well)

You can also on the property you are buying get express searches done and move pretty quick .... its all held back by the slowest party in your power team - so if you can chivvy them up with a nice bottle of wine and charm them into doing yours fast - good luck.

Personally - I found it very stressful to have such a tight deadline and like my purchases to take 6 months and my sales to take about 3.

I dont buy property myself anymore and have no contacts to pass on to you if you did want to go that route, but if you type a few searches into google relating to fast purchases or quick sales you should come up with some investor