Really stupid question - which way round?

Beatrix_Kiddo

I know that this may sound like a really stupid question, but do you get an offer on your house first, or put an offer on the house you want first?

I have bought and sold a few times, but have never been in a chain before, as I have been going in and out of renting (or relationships......:rolleyes: ), so feel a bit stumped

Do I wait until I get an offer on my house before I go looking for one to buy? Or do I look, find one I like and then hope mine sells?

Any advice?

nrsql

Can do either.
If you already have an offer on your house you're in a better position - if you haven't then your offer might not be accepted.

If you belive the stories about the market then getting an offer on your place shouldn't take long.

You should at least be marketing your house.
If you get a good offer and can't find anywhere the deal falls through.
Similarly if you find a place and can't sell your own again it falls through.
Nothing to worry about as long as you are being honest.

terrierlady

if your thinking of a new home you must be sstc before reserving because you will need to exchange within 28 working days from when your solicitor receives the contract papers.

Jorgan_2

Your probably better off getting an offer on yours before offering on a property you wish to purchase. It will put you in a lot stronger position to negotiate a better deal. Theres no harm in looking at properties while waiting to sell & drawing up a short list.

jewel22_2

i waited till i had an offer before i looked at houses,i was scared i would fall in love with a house and lose it as i wasnt in a strong position to buy, also you might offer a higher price to keep the new home, then accept less on selling as you need to proceed. look at areas you would like to move too draw up a short list, i looked on rightmove all the time and when i sold after 8 weeks i managed to choose my new home within 2 weeks..

mrsc_4

We did it a bit backwards saw the mortgage advisor before having the EA round to value our flat then started looking found somewhere loved it and had an offer accepted on it!

Frantically put our flat on the market the next day and fortunately we SSTC in 6 days, we finally complete on Wednesday!!!

We were lucky in hindsight but felt the pressure of having found somewhere we loved but couldn't proceed as we hadn't sold but it did give us an idea of what the minimum we would accept on our flat and that is what we accepted in the end but our Buyer has been great and very patient with our problems.

Anyway this is our story but I don't think there is a right or wrong way about doing it you just have to be lucky

benood

We offered on our current house before ours was even on the market (we hadn't been looking to move but this one was one we had in mind as a possibility so when the opportunity arose we moved heaven and earth to make it happen and by the skin of our teeth it did.

So my advice would be to get viewing and get your house on the market - don't worry about falling in love with something you'll get over it if it all falls through, if it doesn't you'll be in your dream house.

Make low offers until you've got a buyer - it will give you flexibility to cut your price to drum up interest.

Carpe diem.