Buying & Selling your property

[geek84]

Hi Folks

We are thinking of selling our current property in order to buy and move into a new one.

Can someone kindly give advice on time lines regarding putting up our home for sale, buying the new property, signing paperwork, and giving deposits?

Ideally, we want to buy the new property before the sale of the current one goes through. We don't want to be in a situation where we have sold our current property and the buying of the new property still needs to go through the proper channels. i.e. we don't want to be homeless.

Thanks in advance for your responses.

 

[EFLImpudence]

Ideally, we want to buy the new property before the sale of the current one goes through.

You won't be able to do that unless you own the present one outright and have cash for the new one.

If that is not the case, you may be able to have a bridging loan but it is very expensive and you will not know how long it is going to take.

We don't want to be in a situation where we have sold our current property and the buying of the new property still needs to go through the proper channels. i.e. we don't want to be homeless.

You wouldn't do that.
Every sale in the chain is only finalised at a predetermined time and date when everything for everyone is in place.


That's why the process is such a pain and quite often falls through because one person in the chain has a problem and pulls out.

 

[HERTS P&D]

Jesus wept!

How on earth have you managed to survived so far.

Go and see an estate agent.

Andy

 

[geek84]

Thanks folks

 

[Iamchamps]

Your what they call part of a chain.

If your house sale falls through it means you can’t buy your new house and the chain breaks. Speak to an estate agent they will explain all this.

 

[DaveHerns]

If you buy your new house first you'll get stung for double stamp duty as they'll class it as a second home until the first one is sold.

 

[KenGMac]

Talk to SEVERAL estate agents, get there bottom line costs and go for what you consider the best option?

As an aside there appears to be a war breaking out around On-line agents, worth a look?

 

[bernardgreen]

On-line agents, worth a look?

Read the small print VERY carefully before you make any commitment.. You can end up paying a large fee even if the "agent" does not sell the house for you....

 

[sodthisforfun]

Purple bricks is being used more and more online. Don't know much about their fees but the two houses near me that used them sold up quick and no hiccups along the way.

 

[KenGMac]

At one time, if you were with one high street Estate Agent [spit, spit] and you left that agent because you were unhappy with their performance [or lack of same?] and you moved to another Agent who managed to sell your house the original Agent could pursue you for their fee because the property was "Sold" within a certain amount of time after leaving the first agent.

Extreme caution is needed??