Back to the blogs list

Buy Or Sell First?

Buy Or Sell First?

For homeowners wishing to sell their property and buy another, it’s the classic
dilemma; which do you do first - buy or sell? Chicken or egg?

Typically people initially investigate the market to find out what they can buy for their
money. Inevitably, during this research they fall in love with the “ideal”
property. As they have yet to sell, as purchasers, they find themselves in a
weak position and are unlikely to have anything below an asking price offer
accepted. After all, why should a seller limit the sale of their property to
the saleability of someone else’s?

Even if terms are agreed, then what? You end up being forced to sell quickly,
possibly at a low figure, so that you don’t lose your new property. Annoyingly,
once a property goes under offer, everyone else seems to want it too!

The difference between your expensive purchase and cheap sale could cost you as
much as 20% more than the cost of a move in more controlled circumstances.

 So be cool. Sell from a position of strength and then buy using the power of cash.
A proceedable purchaser is a joy to the ears of an estate agent and you might
even be offered “off market” properties of which other buyers are unaware.

As for that dream home – isn’t it rather a coincidence that the perfect property
just happens to be on the market at the precise moment you are looking? There
is always another one around the corner, and it may even be better! And if you
don’t find a suitable property in time, then you are hardly likely to be
homeless, as nobody is going to force you to sell until you are ready – it’s
entirely your decision.

We aim to reduce the pressure of moving for our clients in many ways, but our
answer to the chicken and egg scenario is emphatic …the chicken!