When do I start looking for home to buy?

[Nat6999]

I recently lost my mum, we have applied for probate & once it is granted will be putting her home up for sale. The proceeds will be split equally between myself & my brother, I intend to buy a house with part of my share as I'm in a council flat at the moment & am desperate to get out.

When is the right time to start looking for a property? When the house is under offer or do I wait until the sale is completed? I already keep my eye on properties coming on the market in the area I want & what prices properties are achieving.

Are you planning on buying outright or will you also need a mortgage?
I would say start looking but you might not get any offers accepted as you aren’t currently in the position to buy (you don’t have the money ready in your account).

Many buyers will want to see that anyone who needs to sell a property in order to buy theirs is, at least, 'on the market' before showing their home in person.

Generally, people will only accept an offer from you, once you have sold.

There will be exceptions I'm sure, but no point in you falling in love with somewhere and not being in a position to proceed, either.

It makes sense, as you already are doing, to look at lots and lots on-line and try to work out what is important to you when you are in a position to go ahead - is it location . size / condition / parking / etc etc

If you’re currently in a council flat then I’d wait for the sale to be completed - it’s much less stressful not trying to sell and buy at the same time.

I'm looking at 80% cash & 20% mortgage, not borrowing any more than £35k, I could afford to pay £100% but am intending to use some of the cash for some medical treatment that I need which isn't available on the NHS which would be life changing for me. I'm thinking of talking to an independent mortgage advisor once we have had offers on my mum's house & I have a better idea of what they house will sell for, next door recently sold for £35k over asking price, it's a very popular area & properties sell fast.

Whenever you want is the best time to look but bear in mind if you love a place but don't know when you will able to buy you might be beaten to the winning line!
However I reckon if you are serious about buying it's always worth having a good look around even if you can't buy right away - it will narrow down the choices you really consider sensible if you take a look around. What estates agents say and photograph, and what the property actually is can be very different.

I know the area I am looking in very well, I've lived there for nearly 25 years & used to own a house there when I was married. Ideally if there was a miracle I would love to buy back the house I used to own. They are only ex council houses, but you get a lot of house for your money, have lots of room & lots of potential to make a lovely home.

You can look to see what is on the market but I would not get too invested in a particular property as you are not in a position to make an offer.
Going back 3-4 years, you would not even be given a viewing at the moment as you are not currently proceedable.
Personally, I would keep an eye on the market but not view anything as you will only get disappointed & frustrated as well as giving false hope to sellers.

With regards to selling the probate property, many buyers seem to see these as fair game for a reduction (you see it all the time here on MN) so hold your nerve.
When we were selling a PP, we made it very clear from day-one that any last minute reduction would not be entertained and would instead result in the property going straight back on the market.

It would also make you an ideal buyer, nothing to sell and money available, or if you need a mortgage, will a very large deposit readily available.

No one will accept an offer without proof you can purchase the property. When I sold our first house we had some people come and view that said they’d make an offer and they’re waiting for funds to come from xyz. Was an immediate no

Start looking now and include things that you wouldn't normally look at - things too small, cheaper than you expect, too big, more expensive than planned. You may surprise yourself.

Let the EA's know your position (waiting for probate / can't make offers) and let them filter out any vendors who don't want to entertain unproceedable buyers.