What happens if.....?

Ifty_2

What happens if.....?

I have an offer accepted on a property (property is in Glasgow - therefore accepted offer is legally binding!), but to move I would need to sell my current home which hasn't found a buyer !!

Could we inturn accept the offer, subject to us selling our current home, or are there any other alternatives ??

I'm not sure how this would work.......Please HELP!!

Regards,

Ifty

ckerrd

Friends of mine had "offer subject to survey" on their property.

The potential buyer never surveyed so the whole thing fell through.

You may be able to put somethng in the offer documents although I doubt it could be related to you selling your property

Ifty_2

If I don't manage to sell my current home them I might need something called a 'bridging loan' I think, anyone heard of these ??

Any other suggestions appreciated...??

The propertys is on sale for: £400k

I hope to sell my current home for: £350k

And pay the remaining balance/stamp duty with cash, therefore I don't think I need to have the property surveyed, although I will be doing this for my own benefit, not the banks - as we don't require a mortgage.

Regards,

Ifty

ckerrd

Yeah - bridging loans are quite common, although never had to have one myself.

I would always go for some sort of survey as you have no idea what could be wrong with the property.

Can you ask for the entry date to be moved? Again not uncommon for these to be negotiated.