Perhaps one of the most common questions we are asked from prospective sellers is ‘Should I find a property before putting my home on the market?’
Sellers are often unsure where to start however ultimately, unless you are in a position to buy your next home without selling your existing property, then you do have to find a buyer for your home before you can make an offer. Once you have established that you would like to move home you need to market your property before necessarily finding a property to purchase.
Sellers may feel nervous about marketing their home without having a purchase in place, however all sellers who are dependent upon the sale of their home are in the same position.
Once you have made the decision to move you can invite estate agents to your home to offer advice about moving. Ryder and Dutton offer a free pre marketing consultation for any prospective seller, so at the early stages of deciding to move, we can visit your property and provide expert and individually tailored advice about the marketing of your home and its recommended asking price. Remember you are choosing an agent to act for you so it is important you make the right choice for you, and your property.
Missing out on your dream home
The drawbacks of finding a property that you want to buy before selling your own home is you could miss out on your ideal property if you are unable to find a buyer quickly enough. Another buyer who can proceed immediately could make an offer before you get the opportunity to do so.
Once you have found a buyer for your property you are in a much stronger position to be able to negotiate a sale. Any offer made before you have sold your home would be considered a register of interest until you are in a position to proceed. Once you have sold, it is no longer simply a register of an interest but a genuine offer to purchase a property. This can encourage sellers to enter into more serious negotiations with you and start to agree the terms of the sale.
How much can I offer?
House Prices are often relative and so knowing exactly how much your own property has sold for can actually help you decide how much you are in a position to be able to put forward. If your home sells for more or less than anticipated then it could have a direct impact on the amount you are in a position to offer, or even which property falls within your budget.
Standing out from the crowd
Sellers are looking for serious buyers who are in a position to proceed, so you can stand out from other potential buyers by demonstrating this. Having proof that your funding is all in place and you have a complete chain can set you aside from other buyers.
Should I market my property first?
By selling your property first you are in a much stronger position to negotiate a sale and avoid the heartache of finding your dream home, only to loose it by not being able to proceed quickly enough.
For more advice about moving home contact Ryder and Dutton Estate Agents on 0161 925 3255 or alternatively email us at firstname.lastname@example.org.