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Moving house for the 1st time
rickyengland1966
Posts: 8 Forumite
I have a bit of a dilemma so im after some sound advice here. We are currently homeowners and hadn't thought too much about moving up the property ladder until recently when we saw a house for sale which we are viewing on Monday which looks a bargin. The problem I have is we havn't moved homes before and if we like the house we would be unable to put an offer in as ours isnt even on the market yet! Obviously if we do like the property we will get ours valued and on the market asap but would the seller of the home we are after take this into account? Our house could be on the market for any length of time before if and when it sells. Another quick question though, how do you get a mortgage on this house if we have no idea how much ours will sell for (I know roughly the value of it) The mortgage would only be in the region of £10,000 more im asuming as the house we are viewing is on for £140,000 and ours would be about £130,000. In this case we would only need a mortgage of £48,000 as ours has shot up in value over the last 3 years but would need the money gained off our own property to put into the house we would like so would we have to sell first? Im sure there is an obvious answer to this but we are new to all this moving home stuff!
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Comments
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I was in a similar position a couple of weeks ago and what all the property boffins told me was that you can offer on a property subject to sale of your own, but you would not be taken very seriously as a buyer. The best thing you could do would be to sell yours asap and if the house is still available offer on it then.Loving the dtd thread. x0
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Yes, you need to get a buyer for your own house first. Untill you have sold you are not a proceedable buyer & estate agents always warn vendor's to keep house on market if only offers are from non proceedable buyers.
When you view the house, if you like it you can ask the ea to note your interest & let you know if it receives any offers in case you have the sniff of a buyer by then, & able to offer on it yourself.
Get 2 or 3 ea's round to value your & get it on the market asap. If the market is moving quickly in your area & your house is in ace condition then you may be lucky & get a really quick sale
My house sold within 2 days at full asking price, but this is a London suburb & the market is very bouyant here presently.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0
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