What order?

Danniella

Hi there,

Could you please advise what the order of buying/selling a house is?

We have a house for sell, placed on market a little higher as we expected to get knocked down, price has now been reduced so we may have interest/offer soon (hopefully).

We have seen a place that is perfect for us. We have viewed it twice. We cannot make an offer as all the money is tied up in our property.

What happens next? our house sells, we make an offer? At what point do we make a mortgage appointment at the bank? (have heard that bank waiting list is about 2 months).

Any help you could provide would be greatly appreciated.

Sorry if this should have been placed in the "mortgage" section.

BallyK33

I think it's best to get your mortgage sorted so you have an approval in principle when you make an offer but can't offer really until you have an offer on your own property. This will make you a more credible purchaser and the vendor more likely to give your offer serious consideration. I may be wrong, just my experience of the process. Good luck with it!

Danniella

BallyK33 wrote: »

I think it's best to get your mortgage sorted so you have an approval in principle when you make an offer but can't offer really until you have an offer on your own property. This will make you a more credible purchaser and the vendor more likely to give your offer serious consideration. I may be wrong, just my experience of the process. Good luck with it!

We already have an approval in principle already in hand. On the basis of this, can we make an offer? I was under the impression that we cannot.

Thanks for your reply.

BallyK33

Probably not until you have an offer on your own property. Speak to the estate agent, register your interest and asked to be kept up to date ie if any other offers are made, and if it's meant for you it will still be available when you get an acceptable offer on your property.