Buying with property to sell

NYClaire

Hi,

We have a new mortgage in principle and have just put our house on the market.

Generally speaking is it best to wait until we receive an offer before even beginning to look for a new place?

We are in Scotland.

lookstraightahead

Well can you afford your new place without selling the one you have at the moment?

NYClaire

lookstraightahead wrote: »

Well can you afford your new place without selling the one you have at the moment?

There’s always some smart person on these forums these days but thank you for taking time out of your day to be condescending.

somethingcorporate

NYClaire wrote: »

There’s always some smart person on these forums these days but thank you for taking time out of your day to be condescending.

Seems like a legitimate question to me.


You can look around but some EAs (and vendors) may not entertain you until you are "proceedable" (i.e. have an offer on your place).


No harm in looking around though, just dont expect to be taken too seriously.

comeandgo

I would never consider you as a purchaser if you needed the equity from your own house that was not even on the market. It's so much easier to sell the one you are in and rent until you find what you want.

Pixie5740

Have people missed the part where the OP has said she's in Scotland? Estate agents don't qualify people and offers are made formally via solicitors.

There's certainly no harm in starting to look at properties now and even maybe putting in notes of interest in via your solicitor for ones you really like just now.

comeandgo

Pixie5740 wrote: »

Have people missed the part where the OP has said she's in Scotland? Estate agents don't qualify people and offers are made formally via solicitors.

There's certainly no harm in starting to look at properties now and even maybe putting in notes of interest in via your solicitor for ones you really like just now.

Yes, but the estate agents do ask in Scotland too prior to a viewing so my stance has always been if they can't proceed they are just being nosey and wanting a look at a property.

Sibz

Hey. Not really a right answer to this.

You can't know how long your house will take to sell, and you can't know how long others will be on the market (unless there is a closing date displayed - and even then sometimes).

There's no harm in looking around and doing research. Could tell you roughly how much you'd need to get the kind of place you like - in actual market terms rather than price guides.

We are in the process of moving - was a fairly short notice thing as we hadn't really planned it. So we started looking to get ideas before putting ours on the market. Ours sold quick and we managed to get a place that we likely would not have if we'd waited until we sold to start looking. But we were lucky and risked a deposit to take the chance.

I'm in Scotland too - people told us we'd likely be able to sell fairly quick due to the type of place we were selling and the location.

Sibz

comeandgo wrote: »

Yes, but the estate agents do ask in Scotland too prior to a viewing so my stance has always been if they can't proceed they are just being nosey and wanting a look at a property.

How would you differentiate?
My wife and I were never refused a viewing even though we started looking before our house was even on the market. Not only did the EAs not want to lose a potential sale they wanted to be considered when/if we did put ours up for sale - it works both ways .

Pixie5740

comeandgo wrote: »

Yes, but the estate agents do ask in Scotland too prior to a viewing so my stance has always been if they can't proceed they are just being nosey and wanting a look at a property.

My experience of estate agents in Scotland has been completely different to yours then. Who knows how many potential buyers you've lost out on.

PasturesNew

Looking will depend on what you want and where you live and where you want to be.

I'm looking to buy and on the market, but I'm not viewing anything, I'm just finding/listing everything I could be interested in viewing.... and sitting on the list until such time as I have an offer. But - I aim to move 15-20 miles away, within an area of 10-15 miles' radius, so it's simply not practical/sensible for me to go traipsing out all over the place, miles away, when I've no buyer yet.

If I were looking to buy something within 1-3 miles of where I am now it'd be easier to fit viewings in .... so I'd go to see those that looked ideal...