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Original poster

Sell house then look for another property to buy or other way round?

20 replies

mumtorobbie · 16/01/2012 08:26

After talking about it for what seems like years, we've finally decided to move to a larger house.

However, DH can't agree what to do first....find a house we like first then put ours on the market (we've already had it valued), or the other way round.

Tbh, I don't think we're going to have a great deal of difficulty selling our current house as victorian semi-detached houses are in great demand in our area and we're always having notes put through our door from people wanting to buy it but with the market the way it is, it could take ages to sell if the right people aren't out there looking to buy.

I would rather put it up for sell then look for our new house but DH says we'll be under too much pressure to find another house if we get an offer and could end up settling for something that's not what we really want. This is all complicated by the fact we're having our second DC in April.

What would you do?

OP posts:
Slightlytinsellyexpat · 16/01/2012 08:35

We have always waited for an offer on our house before starting to look for a house to buy.

It is unlikely that you will be taken seriously as a buyer if your house isn't even on the market.

poorbuthappy · 16/01/2012 08:42

Unless your house is under offer mist vendors won't even consider you serious buyers.
So I don't think you have a choice as to how you do it!Smile

Original poster
mumtorobbie · 16/01/2012 08:47

That's my argument. If someone made an offer on our house but hadn't even put their property on the market I wouldn't take them seriously either.

Might actually have won this argument for a change then!

OP posts:
Jajas · 16/01/2012 08:52

This reply has been deleted

Message withdrawn at poster's request.

Ciske · 16/01/2012 09:02

In this market, I wouldn't accept an offer and take my property off the market for people who were still waiting to sell their own. So I suggest put your own house on the market, then start looking out for the next and create a shortlist of houses you like. Then as soon as yours is sold, or you accepted an offer, go to your shortlist, have second/third visits, and make a final decision.

I don't think there's much else you can do, ultimately there is an element of luck involved in the timing: you have to hope your 'dream home' is up for sale within reasonable time of you selling your own. It's not completely in your hands. :(

JeanBodel · 16/01/2012 09:05

You won't be in a position to make a serious offer on another property until you are proceedable.

But I would advise having a look at what is out there whilst you are on the market. Get a good feel for what you can afford, work out your list of priorities and points where you are willing to compromise.

Because your DH is also right - I work in an estate agent's and have seen sales fall through at the last minute because the vendor couldn't find anything suitable. Usually because the vendor had no idea what their money would actually buy.

If you're willing to move into rented, and there is a good supply of suitable rented properties, then that would simplify the process, of course.

Jajas · 16/01/2012 09:50

This reply has been deleted

Message withdrawn at poster's request.

Original poster
mumtorobbie · 16/01/2012 10:28

Many thanks for your advice.

We saw a couple of houses at the weekend - one we're very interested in but it needs completely modernising so need another viewing to see how doable it is.

The housing market seems to be quite healthy where we are (commutable town in Essex) but then I'm no expert.

OP posts:
StickAForkInMeImDone · 16/01/2012 10:32

We looked at a couple of houses before putting ours on the market. Just to see what we could get for our money and whether moving was the right thing.
Once our house went on the market we started looking more seriously. We didn't put any offers in but we made the EA aware that if our house sold then which houses we would consider.
Once our house sold (SSTC) we went all out looking for our new home, we knew exactly what money we had to spend so knew what price we would be willing to pay.

bibbitybobbityhat · 16/01/2012 10:34

Put yours on the market first.

Vendors will not be accepting any offers you make unless you are in a position to buy.

bibbitybobbityhat · 16/01/2012 10:36

"We looked at a couple of houses before putting ours on the market. Just to see what we could get for our money and whether moving was the right thing."

Very understanding vendors you had there StickAForkInMe. There is no way as a vendor I'd be letting random people use my house as a means to "get a feel for the market". If I am selling I want to know to the nth degree all about the position of the buyer, it is really crucial in deciding whether to accept an offer or not.

StickAForkInMeImDone · 16/01/2012 10:49

bibbity We were very upfront with the estate agents we were viewing through that we were still considering putting our house on the market.
Possibly it depends on the area. I know things have been slow to sell here, and certainly the vendors we met were very polite to our faces, (who knows what they really thought). Likewise we had a couple of viewings at our house with people who hadn't made a decision yet on whether to sell. One couple made the decision to put their house on the market after looking at our house.
It was the first time we had ever sold a property so maybe we were naive etc but it worked for us.

Original poster
mumtorobbie · 16/01/2012 11:25

I was wondering that Jean. Is it now a case of getting a realistic price rather than waiting for a higher price.

OP posts:
Ladymuck · 17/01/2012 08:56

There are plenty of online resources which will help you see what the local market is like, and many estate agents now include floor plans etc to give a good idea of how much house you would get for your £££.

I put my house on the market a week ago. Had 10 viewings, and looking back at people's circumstances, 2 of those were under offer, 1 was on the market but hadn't sold, and everyone else was chain-free(so buyers in rented, or let 2 buy). Have had good offers from let2 buy and 1 couple under offer as well as "an indication of interest" from the person on the market, but as I want to proceed I can't really faff around to wait and see what they might offer.

I confess to being surprised at how many people had sold up last year and then gone into rented, but certainly they were the majority of viewers for us. So I agree with bibbity, I'm surprised that agents are getting you viewing if the market is healthy and yet you are not on.

bibbitybobbityhat · 17/01/2012 10:06

Oh hello there LadyM. What's the latest on the house you made a fap offer on?

Lightofthemoon · 17/01/2012 10:10

Bit harsh there bibbity, it's a bit silly to put your house on the market if you don't know if you can afford what you want to buy next.

We viewed some before putting ours on the market and the EAs/Vendors had no issue - we could have fallen in love with somewhere, put ours on the market, sold immediately and put an offer in, I know a couple of people who have managed this (lucky b*ggers).

As a vendor, I certainly wouldn't refuse anyone to look because they weren't on the market/hadn't sold their house as you just don't know what can happen.

OP the best thing is to research the market thoroughly to see if you feel you can get what you want for your budget. If you think you can put yours on and keep an eye on what is coming on the market and potentially view any you are think are serious contenders so you are ready to move when you get an offer.

Try not to fall in love with anywhere before you get an offer though like we have .

Ladymuck · 17/01/2012 10:20

[Bibbity, they're not accepting! But nor are they rejecting. Seems to be something going on in the background with a family member who wants to buy it instead (but at less than we have offered!). All a bit of a waste of time really as it looks as if it was only on the market to support the valuation for a private sale. We've put in an offer on another place and waiting to hear back on that.]

irregularegular · 17/01/2012 10:41

Do both at the same time. You're not in a great position to offer on a house until you've sold yours, but it still makes sense to look. Then once you have sold your house you will be in a much better position to choose a house to buy, or decide that you would rather rent for a while. Be honest with estate agents and vendors - I've looked at plenty of houses while still having a house to sell - or even not having the house on the market - and no-one has ever turned me down.

It might all just come together at the same time - that's true of most people I know, though it's a bit harder these days as the market's much thinner.

bibbitybobbityhat · 17/01/2012 10:48

Harsh??

[LadyM - pleased you've found another place you like!]

daenerysstormborn · 17/01/2012 10:55

sorry but if i had my house on the market, there's no way i'd let anyone in for a viewing unless they'd already sold or were a ftb.

would not spend hours tidying etc for someone just to get a feel for the market, you can do that on rightmove!

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