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Which comes first - Buy or Sell?

One of the most frequent questions we are asked is: “Do I need to sell my current home before putting in an offer on another one?”

~There is no right or wrong answer to this conundrum, but it is worth considering that if every seller waits until they see something they wish to purchase before putting their home on the market there will be very few properties up for sale. Levels of available housing stock is an ongoing issue. 

Julia Simonds, our Bromsgrove branch manager, says “We would always advise that it is better to come to market first as it puts you in a much stronger position to negotiate”.

People worry about the additional pressure that may arise if they find a buyer but they haven’t found anywhere they want to move.  The chance of securing your dream home is much stronger if you are in a proceedable position and sellers will take your offers more seriously if you have already sold. If your existing home sells, and you can’t find another property, your buyer may be prepared to wait or you could consider moving into rented accommodation. If you lose your buyer because they aren’t prepared to wait, don’t worry! If your home has sold once it’s likely it will sell again.

 If you are looking for an individual property remember so are an awful lot of other people! So any “sought after” home can attract a lot of interest and having already sold makes you a more viable purchaser. Houses can stir up a lot of emotion and finding your dream home before agreeing a sale on your existing property can lead to a stressful time wondering if someone else will manage to clinch the deal first.

 If you do find yourself in a situation where you want to achieve a “quick sale” this can mean pricing your property at a lower figure. Julia says “Selling first allows you to hold out for your stronger sale price as the urgency is taken out of the process as you are not about to lose the house of your dreams. We can also act as your buying agent as well as your selling agent as we can negotiate with other agents on your behalf on your onward purchase.”

Set up costs to sell your home are normally minimal, but obviously depend on individual requirements, and don’t forget you only pay your agent fees if you actually move house.

 Everyone’s situation is different and moving home can have its problems.  At Andrew Grant we endeavour to make the journey as easy and stress free as we possibly can.

 

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