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buying & selling

(8 Posts)
magnum Sat 22-Nov-03 19:48:56

I've just put my house on the market and have started looking at other properties. This will be the first time I've sold a property to buy another. Do you start looking for another house as soon as you put yours on the market, or do you wait until you get a buyer?? (I know I sound a bit thick) Would I be able to make an offer on another property before I have an offer on mine? Any advice would be gratefully appreciated!!

magnum Sat 22-Nov-03 20:06:42

magnum Sat 22-Nov-03 20:07:21

(If no-one give me advice there'll be 2 smilies next time!!)

3GirlsMum Sat 22-Nov-03 20:07:53

Hi Magnum

I know when I moved I was told to sell my house first then look for a property. I dont think it hurts to keep your eye on whats around but I know some people are reluctant to take offers on their house when you still havent had any yourself. Good luck and I hope you find that you are looking for. x

lucy123 Sat 22-Nov-03 20:09:49

Did the estate agent give you an idea of how long he/she thinks it will take to sell it?

If the market's moving fast, then look now, but if you have a starter home in London, you might want to wait to avoid dissapointment.

(that's just for the sake of giving a reply by the way, I've never sold a home. Lucky me.)

magnum Sat 22-Nov-03 20:15:31

Thanks, you've saved yourselves from the attack of the smilies (except that one!) The agent said things are moving very quickly at the mo (i'm in the north) but he has put quite an optimistic price on our property so that might hold us back. 3GirlsMum, I think you're probably right, but its so tempting to start looking. I'm just scared I'll find my dream home and then not sell mine in time. If I make an offer and its accepted, does that property stay on the market or does it get taken off? (I know I sound really stupid now, sorry)

Jane101 Sat 22-Nov-03 21:26:12

There was a letter on this subject in "Which" this month. Someone had been told by an estate agent that they couldn't make an offer until their house was sold. Apparently, this is illegal - the estate agent has to pass on any offers regardless of whether you have found a buyer. So it isn't strictly necessary for you to sell first.

naughtynoonoo Sat 22-Nov-03 22:06:48

Magnum, good luck with your sale. There is no harm in looking for other properties, but if you did see one you liked I think the vendor would prefer somebody who was already under offer or else they will consider your offer but keep their property on the market. Do you need to top up your mortgage, it is probably a good idea to look into that - saves all the delay when you do find a property - have all that type of thing sorted out as that also looks good and means you are keen. We are currently under offer for the 2nd time, the first time round we went under offer to a couple in rented accommodation - thought great as we were buying a new house - so no chain. We waited and waited for a survey on our house, I think it must have been 6/8 weeks later and still no survey, apparently they were having great problems getting a mortgage, all during that time the estate agent didn't continue to market our property (big mistake), we pulled the plug as we felt we were being strung along (probably would still be waiting for things to happen now). We changed agents and are under offer again to a family who were also under offer, I am taking everything with a pinch of salt this time - expect the unexpected as they say. All the same I do wish you the best of luck and sort your finances out!

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