“Should I Sell my Property First?”

Questions such as this are frequently asked by those looking to move.

It can feel very confusing and there is no definitive right way to go about such matters as there’s an infinite number of variables, but we’ll give you our advice.

Let’s get started.

  

No one wants to sell their home and then have to find somewhere to live.

We had a client called Ruth who had recently retired and wanted to move further away to be nearer to her daughter and grandchildren.

A young family asked to view even though their own home wasn’t yet on the market.  We contacted the owner to see how she felt and she accepted the viewing as a ‘trial run’ to see what initial feedback she’d get on her home.

Of course, you guessed it, the family loved it and excitedly put in a full asking price offer.  Ruth was, of course, happy to accept the offer they’d made but that hers would still have to be marketed as they’d not yet sold their own home, which they completely understood.

Weeks went by and the family still hadn’t sold their house.

And you guessed it, Ruth had another full asking price offer from a family renting and with nothing to sell.  The offer was accepted and Ruth was on her way …

We then had to explain the situation to the family hoping they’d understand … but they didn’t.

We sensitively passed the news on.  The lady went quiet but seemed to accept the news.  Her husband didn’t take the news well at all and was extremely angry saying “but Ruth agreed it to us”.  Sadly this was wrong.  The family had basically ‘gone shopping without taking their purse’ and someone else had come along who did have their purse.

It’s always lovely to see someone’s motivation to buy but …

By selling first, you are putting yourself in the best position, seeing properties as they hit the market and having the luxury of choice, instead of simply waiting for what’s left over.

It’s clear, then, that you need to move up the ladder in terms of how you’re perceived by an agent and their client.  Your attractiveness as a buyer will affect when you get to see the latest properties hitting the market and that all circles back to our original advice …

Sell First

When taken in percentage terms, selling your home first comes out as the best way to proceed.  So, before we go any further, let us be clear about how we advise those looking to buy and sell at the same time:

But, I don’t want to be homeless!

We hear you, and it’s a concern that everyone has, so you’re by no means alone.

Warmest regards

Richard Lowth

PS:  Always synchronise the sale of your old home before purchasing somewhere new to live.

Please get in touch to find out more…

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01625 859911 / 07866 269551

sales@richardlowth.co.uk