Why You Should Sell Your Property Before Buying Another

To sell or not to sell really isn’t the question when you are purchasing property. “Why!?” we hear you scream as you tear your vein popped eyes away from your one true love on Rightmove. Well, whether or not you’ve found the two bed of your dreams in that covetable North London postcode well within your budget (SWOON), the current owners of said dream house are going to choose Rita round the corner who has already sold her current abode. Yes boo, and indeed, hoo. But that’s where your friendly neighbourhood property gurus swoop in, with some much needed green tea and guidance. Think ‘sale agreed’ before you go eyeing up the latest high ceilinged garden flats and get your house on the market first. Let us tell you why…

Don’t get fomooh

That’s fear of missing out on house to the uninitiated. Avoid that godforsaken ‘buyer’s remorse’ because you didn’t actually get round to buying, and make sure you’re in the best position possible in today’s terribly competitive market. With a shortage of properties currently available, the number of prospective buyers per house has shot up. You are up against the rest unfortunately, so take it as a challenge and put your best steel toe cap forwards. Remember that most sellers will have instructed their agency not to carry out viewings with those who have not begun the selling process on their end. It may sound extreme – harsh even – but this is a dog eat semi detached world, Keith.

Show you are ready to say ‘I do’

Are you really committed to that end of terrace Victorian conversion if you haven’t had ‘the chat’ with your current abode? Without calling it quits with your present house, then you shouldn’t be buying rugs for the new one. Show sellers you’re committed and ready to proceed with a home that’s currently under offer on your side, before you make that fated bid. It doesn’t take long to book that valuation, throw on some lippy and get your house online. Especially with the help of yours truly, we’ll make sure your abode is properly marketed and you’re ready to take on the competition.

Know your worth

This works both ways. While you may feel you’re in a race to get your property sold in order to secure the new one, don’t bid too high nor accept a low offer. Stay calm and remember what your original budget is. Don’t touch what you can’t afford and vice versa. This is where it can help to hire a solicitor and stay in contact with your agency to keep level headed and make no false moves. You won’t be surprised to learn that this scenario plays out a lot, so remain chill and play the game with a poker face.

Seriously, know your worth

Another benefit to selling your property first is the gift of financial foresight. From this power stance you can see the wood for the trees and work out exactly what you have to spend. For example, Jimbo might have assumed (we all know what this does to a person) that he would get £255,000 for his one bed down Monsell Road, when in actual fact it went for between £400,000 and £450,000. Meaning he could’ve had that extra £195k to put towards a pricier property. Or a costly Samoyed puppy. It’s your world Jimbo, we’re just living in it.

Good things come to those who sell

So be patient and remember: there’s nothing to lose and everything to gain by selling up first. You might be waking up at 3am wondering what would happen if you sell but have nowhere to move into. Well we are here to soothe those night time tremors. Not literally, we’re not that close. It is literally an estate agent’s job to streamline the process, manage the chronology and assure you that we have you covered. Every step of the selling process is in good hands, from valuation to conveyance to cups of tea and patience. As a seller you are in a mighty fine position to begin with. The legal and mortgage processes, for example, can be delayed until you have found your dream abode making sure you incur no unnecessary expense in the meantime.

For more in depth guidance and the answers to all your burning questions, do give us a shout on  020 8038 3832. You can also check out our guide on how to sell your property online by clicking here. Or why not book a valuation with us while you’re here using the contact details below.

Contact us:

alex@daviesdavies.co.uk – Lettings Director (contact for lettings and property management)

mark@daviesdavies.co.uk – Sales Director (contact for sales, new homes and chartered surveying)

020 3820 2492

Davies & Davies Estate Agents, 85 Stroud Green Road, London, N4 3EG

Article & images by Barefaced Studios