I know this is a really basic question, so apologies in advance!
I've only bought before, I've never sold. I'm now looking to sell my current place and buy another, so will doubtless enter the dreaded chain situation unless I'm lucky enough to get a deceased estate (I'm 98% certain my current place will be snapped up by first time buyers).
I've rung a few estate agents and they've all asked me if my place is already on the market (it isn't). Now, are they just asking me this to try to get the business for themselves? I don't have a problem with this at all, just wondering.
And what is the correct/normal procedure? Should I put my house on the market, then start looking? Or start looking then put my house on the market? Or simultaneously?
No one, repeat no one, will accept any kind of offer from you unless your own home is at the very least under offer already. Get your place on the market and then start looking. I hope you are right that it will be 'snapped up' by an eager first time buyer and if so you will be able to go out there and shop with confidence but until that lean and hungry FTB materialises your offer is not worth a ha'penny. Harsh but true!
This is like the classic Chicken & Egg ? But as far as I am concerned (I am currently selling a flat) I have told my selling agent not to bother showing people my flat unless they have their place under offer (assuming they need to sell to buy of course)... Having their place on the market isn't enough for me as I am not prepared to agree a sale with anyone who doesn't appear to be in a position to proceed. Looking at places when you haven't even got your place up for sale would be a total waste of everyones time IMHO.
there should be only one way, especially in a slow market and it is as Susie says - put your own place up as without it sold (for this read under offer and proceeding) you have no source of money to purchase another one AND no true idea of what your budget is. HOWEVER, if you are wanting to move to an area that you don't know then maybe you should do your research before putting your place up or whilst you are getting valuations. this should be getting property details and doing drive bys to see what you seem to get for your money.
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? But as far as I am concerned (I am currently selling a flat) I have told my selling agent not to bother showing people my flat unless they have their place under offer (assuming they need to sell to buy of course)...
covered in paint, i see your logic but unless your ea has the spanish inquisition in his back room, you are probably going to be disappointed. Buyers lie and so do ea's if they feel you've been a bit short on interest. you also then get the false claims to be a 'cash' buyer (ie will pay cash from own sale!! ).
We've been looking at properties over the last few months to guage the market before we're ready to sell. In order to get viewing we have told agents our place is on the market.
I guess Archie's comments from another thread back up my point!
I agree with everyone else, get your own well on the way to being sold before looking for yourself. An ideal scenario would be if you knew you had somewhere you could stay for a while (relatives etc.) if you sold before finding a new place yourself.
If you start looking at the same time you run the risk of falling in love with a house and missing out because someone else comes along who is in a better position to complete things quickly, and that would be very disheartening.
*It is not necessary to understand things in order to argue about them. -- Pierre De Beaumarchais
When we were selling ours, we had people round who had only just put theirs on the market, or some that hadn't even got that far. What estate agents sends these people round when they know they haven't even got theirs on the market. Grrrrr. Tell your EA what sort of people you want round-some good ones even go as far to ensure people can afford your house-no good sending some people round who want to dream about a house they can never hope to raise a mortgage for. It happens!
Originally posted by queenstomper: If you start looking at the same time you run the risk of falling in love with a house and missing out because someone else comes along who is in a better position to complete things quickly, and that would be very disheartening.
Too late! Saw a lovely house this evening which ticked every box. But annoyingly they want to move quickly, so I'll probably lose it. But have put mine on the market now, so with a bit of luck some first time buyers will show up and we'll be able to do one of those Location x3 jobs where the solicitors have to complete in 4 weeks or something. Maybe...
Anyone interested in a 2 bed house in London SE8? Good sized garden! c. £200K?
Nice try sweetie, and I hope it works out for you, but don't you wish you'd sewn up the sale before you'd found that dream purchase? Sincerely though, maybe the slow down will work in your favour. Cannot help you out personally (don't even know where SE8 is except it's saaaarf) but feel sure you'll find your buyer quickly. If not you can always post your selling link on here so we can all tell you how to nail that sale!!!
Best of luck with your sale and purchase Patrick. I realise that it's probably a bit of a moot point now, but I really don't think there is any way to say which order of selling/buying is the best. For example, we put our flat on the market around two years ago and got a few viewings but no offers during the first couple of weeks. During that time we were also looking at houses and realised, after looking at about 100 details and 15-20 properties that there wasn't a house on the market that we were willing to give up our flat for, especially given the huge mortgage we would have needed. We immediately took our flat off the market.
Now, if we'd followed the advice of some of the posters on this thread, we might have waited until we had an offer before we starting looking and then we would have had to disappoint our buyer.
Originally posted by queenstomper: If you start looking at the same time you run the risk of falling in love with a house and missing out because someone else comes along who is in a better position to complete things quickly, and that would be very disheartening.
Too late! Saw a lovely house this evening which ticked every box. But annoyingly they want to move quickly, so I'll probably lose it. But have put mine on the market now, so with a bit of luck some first time buyers will show up and we'll be able to do one of those Location x3 jobs where the solicitors have to complete in 4 weeks or something. Maybe...
Anyone interested in a 2 bed house in London SE8? Good sized garden! c. £200K?
mmm i may be able to help you there!
"The greatest trick the Devil played, was convincing us all that he did not exist"
Originally posted by immy21: Patrick whats your rough location? in SE8?
Between Watson Street & Deptford High Street. It's a very nice ex-council house, done up to a high standard (but I would say that, wouldn't I!). Rewired, new boiler, completely redecorated internally. Large garden with barbecue. Two large bedrooms. Make me an offer! (I'm quite serious here!)
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Originally posted by susiecam: If not you can always post your selling link on here so we can all tell you how to nail that sale!!!
Am I really brave enough to subject my poor domicile to the scrutiny of this talkboard?!?!
Originally posted by immy21: Patrick whats your rough location? in SE8?
Between Watson Street & Deptford High Street. It's a very nice ex-council house, done up to a high standard (but I would say that, wouldn't I!). Rewired, new boiler, completely redecorated internally. Large garden with barbecue. Two large bedrooms. Make me an offer! (I'm quite serious here!)
quote:
Originally posted by susiecam: If not you can always post your selling link on here so we can all tell you how to nail that sale!!!
Am I really brave enough to subject my poor domicile to the scrutiny of this talkboard?!?!
just sold one less than a mile away for £215,000 although it was n't in deathford sorry Deptford send a link if you can
"The greatest trick the Devil played, was convincing us all that he did not exist"
I know and have sold in Baildon Street! is that close? mm £200,000 there seems high do you know Sandford Street and Southern Gate Way £185,000 recently for a private 2 bed house in stunning condition!!!
"The greatest trick the Devil played, was convincing us all that he did not exist"
My house is very close to Baildon Street, yes. Sandford Street and Southerngate Way are both less convenient (quite a hike from even New Cross Gate station, which doesn't have as good a service as New Cross), and they're also little modern box homes, whereas mine's got large rooms lots of light. And other houses in the street have been at least on offer for c. £200K. I will say the agents have been pretty quick, I signed up to them officially two hours ago, and they've already got four viewings lined up! We've gone for £196K. I need to achieve £190K to be able to move, so fingers crossed.
Originally posted by immy21: just sold one less than a mile away for £215,000 although it was n't in deathford sorry Deptford send a link if you can
Would you really want to place your home in the hands of an agent who was so well disposed to your neighbourhood as to call it 'deathford' even in jest? Hope you don't use that witty riposte on valuations immy......
Originally posted by immy21: just sold one less than a mile away for £215,000 although it was n't in deathford sorry Deptford send a link if you can
Would you really want to place your home in the hands of an agent who was so well disposed to your neighbourhood as to call it 'deathford' even in jest? Hope you don't use that witty riposte on valuations immy......
Remember I know Deptford you don't! Do you think I would tell a potential customer that they live in a high crime area where the murder rate is higher than average to gain an instruction!! PERLEASE!!!!!
"The greatest trick the Devil played, was convincing us all that he did not exist"
Originally posted by patrick1971: My house is very close to Baildon Street, yes. Sandford Street and Southerngate Way are both less convenient (quite a hike from even New Cross Gate station, which doesn't have as good a service as New Cross), and they're also little modern box homes, whereas mine's got large rooms lots of light. And other houses in the street have been at least on offer for c. £200K. I will say the agents have been pretty quick, I signed up to them officially two hours ago, and they've already got four viewings lined up! We've gone for £196K. I need to achieve £190K to be able to move, so fingers crossed.
Who are you using? Winkworth or Your Move? I wish you luck let us know how close to asking you get!
"The greatest trick the Devil played, was convincing us all that he did not exist"
It's attitudes like "Deathford" that show how little about the area you know...I've lived here five years and no hassle at all! Still, as long as it keeps good properties around here affordable, long may it continue, I guess.
I've had an offer for £190K, which is what I needed to proceed. Trying to edge it up slightly, so we'll see! But pretty good to get an offer within three days of it being on the market, IMHO.
Originally posted by isoprene: One other alternative is to sell your house first and rent until your perfect house comes along. With the boom over, you would be in a great position to buy as even the media are saying thats it now a buyers market. All the best anyway and good luck with the sale.
Do you know, I'm moved I really am. Such touching sentiments. Until you realise that you really haven't read patrick1971's thread at all you've just used it to punt your pathetic propaganda. I'm sure patrick1971 is greatly interested in the fact that the boom is over and it is well and truly a buyer's market when he has received an offer very close to his asking price in only three days. Deptford must be a strange and mysterious market all of its own. Wooooo, spooky huh?
Do you know, I'm moved I really am. Such touching sentiments. Until you realise that you really haven't read patrick1971's thread at all you've just used it to punt your pathetic propaganda. I'm sure patrick1971 is greatly interested in the fact that the boom is over and it is well and truly a buyer's market when he has received an offer very close to his asking price in only three days. Deptford must be a strange and mysterious market all of its own. Wooooo, spooky huh?