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When Should I List My Home for Sale?

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This is a difficult one! There is no one-size-fits-all solution because everyone’s circumstances are different. For example, finding a buyer too quickly may leave you scrambling to find a home that you want to buy yourself. Similarly, if you wait too long, you risk losing a home that you have your heart set on.

However, here are our suggestions for making the process go as smoothly as possible.

Before Doing Anything Else!

Before you begin selling/buying your home, look at what’s available online to get a sense of what you do and don’t like.

Speak with an estate agent once you’ve determined what you want your next home to look like! Learn about the current market and how probable the agent feels your home will sell, based on comparisons and their experience. Will it sell in a week, or a month? And for the amount you need?

Once you’ve determined this, you’ll be able to ascertain when it’s best to place your home on the market. If you honestly believe that your area and type of home is in high demand, you may be able to find your next home before you launch. However, this could be a risky strategy as when you find your dream home, there could be others in a better position who also consider it to be their dream home!

Specific documents will be required from sellers and buyers by Estate Agents. Given this, it is in your best interest to prepare these documents ahead of time.

Your Estate Agent Will Ask for The Following Documents:

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For Sellers: ID, Proof of Address and Proof of Ownership

For Purchasers: ID, Proof of Address, Proof of Funds, Source of Funds, and a Mortgage in Principle.

Finally, begin conversing with solicitors to assess which firm appears to be a good fit for you. Please select a solicitor you have already used or have come highly recommended by someone you trust. As we have seen many times, solicitors can make or break a sale/purchase.

Launching your Property Before Finding Your New Home

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Typically, it’s best if you launch your property before looking for your next home, as long as you’re honest and transparent with prospective purchasers about your next steps. Provided you are open with your timelines from the outset; many buyers are happy to offer a degree of flexibility. However, be proactive in your search for your next home; browse online portals daily and schedule viewings as soon as possible. Despite the fact that you are not chain-free (which isn’t always appealing to sellers), view the properties that interest you.

If your home is on the market/has gone under offer, you will have a better chance of having your offer accepted on your ideal home. We have observed several situations where vendors have accepted a lower offer from a buyer who is proceedable rather than a buyer who offers higher but is not proceedable (in many instances, their property is not on the market). Position can be more important than the offer, so don’t assume that because you’re offering more than other buyers, your offer will be accepted.

Viewing Before Your Home Is on The Market

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Assuming you wish to make an onward purchase, you should keep in mind that some agents/owners will only allow proceedable purchasers to view the property. This is more typical in certain areas, so bear this in mind, as you may have no real choice but to put your property on the market before viewing.

If you secure your next property before listing your current one, you may have the issue of feeling pressured to find a buyer quickly as the sellers of your next home will only wait so long. This could mean not allowing enough time for your property to ‘perculate’ on the market to attract the highest sale price.

However, if you do opt for this scenario, we urge that you reassure the seller that you would do everything necessary to become under offer as soon as possible.

Explore the Idea of Being Chain Free

You could consider being chain-free instead, as this can make the process smoother as typically there will be no delays in moving, which will substantially appeal to your buyers. This will alleviate your worry if you cannot find your ideal home straight away; it offers you more time to consider your next move and decreases the possibility of problems emerging from the chain. People have various expectations and desire different things. Therefore the fewer people involved, the better.

Good luck with finding your next dream home!

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