Shit! Thinking of moving! What do I need to do?

[OldSpeclkledHen]

Omg sorry for being so thick, I currently live in a little studio flat (mortgaged)

Bought as a first time buyer some 19 years ago, never moved since 😳😳

Found a property online, I have no idea what I need to do 😳 I've contacted the EA, waiting for them to get back to me...

But! What's the process? Where do I go from here?

Guess I need to check the lease on my property, find out about a new mortgage, get a valuation on my property... what else?

Do I need to have a buyer before looking?

Sorry and thanks in advance 🙂

A lot of agents are not letting you view unless youre already under offer at the moment so...

Call 3 agents and get valuations on your place. Chose the one you like and has the most agreeable rate. 1% + vat is typical where I am in London.

Speak to a mortage advisor and get an agreement in principle so you know what you can borrow.

Once you have an offer on your place, get a solicitor/conveyancer and they will advise exactly what needs doing and will liaise with your buyers solicitor.

This is a far as we've got right now!

Would you need to sell your current place to buy another or would you rent it out?

If you need to sell it, then really you need to be on the market and ideally under offer before you start viewing. You should also get a mortgage agreement in principle so you know what your budget is exactly.

I'm still unsure yet if to keep my flat and rent it out ...

But didn't realise I needed to be on the market before looking yikes! This is why I love MN!

Will chat to a couple of EA to start ball rolling ref valuations etc

Also will investigate mortgage options!

Thank You 😊

They might let you look but as a serious buyer, you need to have yourself sorted first.

Not all agents are restricting viewing. We saw an apartment last night with a sea view, went into EA this morning and viewing tomorrow morning. They are coming to price ours Monday but I think they are confident about us as not being time wasters plus we live on a road that has houses that sell at the asking price within a week.