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Have you made an offer on a house to buy, but your own not yet sold?
Comments
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It does happen. I put an offer in on this house without selling my old one first. It was accepted and I bought it, still before the old one was sold.
You just need to convince the seller that you can proceed without selling first.0 -
Yes, it is possible to have an offer accepted before selling your own property - it all depends on how flexible the vendor is!
Several years ago I found the ideal property with granny annexe - at the time my aging dad was going to move in with us, but had to sell his own property first. This took longer than expected (as always!) but the vendor was so patient, he kept it off the market for us for at least 8 months. But we gave him constant updates so he knew we were 100% sincere.
So I'd say it all depends on the personal circumstances of both buyer and seller.0 -
I wouldnt entertain, in England at least, saying you want to pay £x price is not what I call an offer.0
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I've always sold first & moved into rented.
That way any chain is broken &, as a cash buyer, you can push for a better deal on anywhere you buy.
It's incredibly frustrating from a seller's point of view to have countless people traipsing around their home who are not in a position to buy. This can lead to hardening of attitudes & stipulations being put on EAs about any potential viewers - e.g. cash buyers only.
That may not be particularly sale-friendly but is completely understandable.
Of course, if someone has to sell then they'll probably be more flexible.0 -
slightly different situation but we put an offer in on our dream home last october. IFA advised us not to sell our properties and switch them to BLT. We got a decision in principle and proceeded to make an offer after sale went to closing date. It all went downhill from there. More than 4 months down the line we still have no mortgage offer and the vendors have put the house back on the market.
It seems when its not a 'straight' swap, getting a mortgage on another property when you don't have arrangements for the other can be tricky
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You can offer, but I wouldn't expect vendor to accept it. As no guarantee that you are proceedable.
Can take months to find a buyer.0
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