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Advice needed: Raising funds to buy a house

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Hi

It's been so long since I last bought a place that I would appreciate some advice on the buying process as I have seen a new house that I wish to purchase. The agents are requesting a tender for the property which I will be lodging over the next couple of days to the value of £285k.

I can pay a deposit of 25K, sell my current home that should fetch 200k and raise the rest through a mortgage (60k).

Should my tender be succesful, I can only proceed once my property sells. Is it normal for the seller to wait until my property is sold so that I can proceed? There is no chain on the one I am to buy..

I know the above sounds daft, but any help would be gratefully recieved.

Many Thanks, Haribol
I have learnt that providing excellence gets you what you deserve and not what you want !!!

Comments

  • poppy10_2
    poppy10_2 Posts: 6,588 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Really you should already have accepted an offer to sell your own house before placing an offer to buy another house.
    poppy10
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