Making an offer when you have yet to sell.

Grenage

Hi guys,

Our current home was our first, so it was a pretty simple process; we're looking to move this year, and I've yet to experience the delights of a housing chain.

What's the etiquette on seeing a house you like, when your home has just gone on the market? While I expect our house to sell quickly (those in my street go within a few days), I appreciate that it may well not. Does one put in an offer and just state one's current position?

I've read that you shouldn't offer until you have an offer, but that seems a bit chicken and egg.

kingstreet

Will you be willing to accept an offer on yours from someone not in a position to proceed?

Hoploz

It is indeed chicken and egg! But a buyer who loves your house will probably give you a little time to find something, whereas your dream house could get snapped up by somebody else if you don't make your interest clear.

There isn't a right way and it is a nightmare. Just try and search while on the market I'd say. If you get a buyer great.

Grenage

kingstreet wrote: »

Will you be willing to accept an offer on yours from someone not in a position to proceed?

I would, although I say this knowing that we would likely encounter first-time buyers.

If we need to, we could lodge at my parents and put things in storage - or rent for a few months. Probably the latter, as the former would probably drive us all insane.

ellie27

I would not accept an offer from a buyer who was not in a position to proceed and I would not make an offer on a house if I was not in the position to buy it.

Malmo

http://lmgtfy.com/?q=site:forums.moneysavingexpert.com+offer+before+sell+OR+selling

Grenage

I appreciate the candidness, and had done some searching. I was just a little bemused as while I know many people who have sold and bought a new home - this has never come up, and nobody sold/rented/bought.

ellie27

Grenage wrote: »

home has just gone on the market? While I expect our house to sell quickly (those in my street go within a few days)

You could accept an offer on your house in the next few days then offer on the house you like by the end of this week.

We are selling/renting/buying

kingstreet

FWIW I would not accept an offer from someone unable to proceed; nor would I make an offer in the same position.

Grenage

Mmm, yes this seems like a minefield of stress and carnage. Renting seems like a lot of extra expense and hassle.

It's a wonder anyone moves at all.

Grenage

Just as an update (because everyone loves feedback).

We've taken the advice on board, and will sell before buying. My parents live locally and are happy to have us between the sell and the buy. This will make it less stressful, put us in a stronger position, and save us a few grand in the process.

Cheers!