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house sold before finding a new place?

3 replies

housesalequeation · 05/01/2024 13:06

I live in a shared ownership home and wanting to move to another shared ownership soon. We’ve found one we like but have been told protocol to go stb>stb is that the house has to be sold before you can buy the next one (but doesn’t have to be completed?) how would this work please? We don’t have relatives to stay with, don’t have the budget to be staying in a hotel hence purchasing cheap share to buy home. They’ve said if the home is ready/built it usually takes 6 weeks from reservation to completion, so if I sold my house can I then say to the buyer they can’t exchange for 6 weeks or is that not how it works?
So confused, TIA for any advice!

OP posts:
Deedippy · 05/01/2024 13:17

Are you sure they mean sold or do they just mean you need to have found a buyer and need to be under offer? That's usually what happens. Then everything will exchange and you will complete on your sale and purchase the same day

Many years ago I was in an so flat and found a new larger so flat I wanted to move to. The new so development had just been built so I was able to reserve one but was given 6 weeks to find a buyer for my so flat which I didn't

ThreeRingCircus · 05/01/2024 13:19

With ours we weren't allowed to put an offer in until we had accepted an offer on the house we were selling. So we had to be under offer rather than the sale completed. Is this what they mean?

housesalequeation · 05/01/2024 13:22

ah ok that makes more sense. i’ll email and see if that’s what they mean. i did ask her to clarify a bit and she said yeah some people stay with family inbetween. i have 3 kids, absolutely none of my family will want us in their house for weeks/months😂

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