The chicken and the egg conundrum
Once you have made the decision to move, you have another important decision to make: which comes first, putting your property on the market for sale or putting an offer in on your dream home? These questions and answers may help:
‘I don’t want to waste the agent’s time if I have not yet found somewhere to move to.’
Buyers are far more flexible than sellers think they might be. As long as expectations and timescales are discussed at an early stage, there is every chance that your buyer will agree to your timescales or at least be open to discuss them.
‘What happens if I receive an offer on my existing home but have not yet found another property to move to?’
Our job is to manage buyers’ expectations therefore they will be told that an onward purchase is necessary in order to complete the transaction. You will be surprised how flexible buyers will be, especially in this market where supply is limited.
‘What if I find the property of my dreams before marketing my existing home?’
You could be hugely disappointed if another buyer comes long who has already sold their property. Your offer will be less attractive to a seller if you are not able to proceed with the purchase quickly.
Whichever way you look at it, it is always a good idea to place your property on the market first to give you the best chance of making an offer when the right property comes up. Remember – you are always in control. If you are thinking of selling your home and would like a market appraisal or advice about the property market in your area, please contact your local Hamptons International branch.