Selling before buying? Sounds risky!

Pepperoni

Hi,

My understanding is that you should try and sell your house whilst looking for your 'new' house. However, we quite like our house and whilst we want to move, we wouldn't do it unless the right house come along. Which makes me weary of selling our house when we haven't found our house - I don't want to feel under pressure etc.

Is my understanding of how it all works correct? Do I just need to man up and get on with it?

Thanks

cloo

It's totally usual. The only risk I see in selling first is that it takes you ages to find the place you want and your buyer loses interest, but to be honest, I think it's more important to be in a good position to buy, where the vendor doesn't have to worry about how long it will take you to find a buyer and you may be up against others who may be more attractive to the vendor if you haven't sold.


I'd suggest looking around at some places before going to market as that will give you an idea how long it might take before you strike on a place you really like. And you may be lucky enough to find a place and get an offer accepted before you've sold yours, but basically, yes, you do need to get on with it!

booksurr

have you never heard the expression "stuck in a chain"?

a chain is formed because the place you want to buy has not yet found a place they want to buy so you have to wait until they are ready. then everyone completes on the same day and the whole chain moves at one go.

This is perfectly normal,

kingstreet

cloo wrote: »

I think it's more important to be in a good position to buy, where the vendor doesn't have to worry about how long it will take you to find a buyer and you may be up against others who may be more attractive to the vendor if you haven't sold

This. With knobs on.

jojo9239

Plus expect the unexpected we sold found somewhere and that somewhere pulled out 1 week before exchange so we went ahead and moved to mums but we were desperate to sell