Catch 22 –Should I Sell First or Buy?

catch-22Many who receive a good offer for their home turn it down because they have not yet found “the right property” and worry that they will in effect become homeless should they sell first (although we have never known this to happen!)

Of course the problem would become a self-fulfilling prophecy if everyone were to take this stance, and the entire market would grind to a halt. But in really it isn’t that bad and, whilst we don’t have a magic wand, the closest thing we have to a miracle cure is to encourage sellers to have a little faith. Because as soon as you find a buyer, amazing things can happen!

First, the fact that you have a buyer in place positions you as a “red hot buyer” with estate agents. This means you will be offered new properties as soon as they come onto the market, often ahead of public marketing or portal exposure. Secondly, you are in a much stronger negotiating position when you do find a property you like, meaning that you are preferred to other buyers who may be in a weaker position. Thirdly, you may well find that once you are psychologically committed to your sale, you’ll have a clearer focus on which property will actually suit you best. It’s easy to “umm and ah” when there’s no pressure!

So, in essence, if you need help making a decision, find a buyer for yours first! And of course, we’d be happy to help on that front as well! Indeed, we pride ourselves on our ability to create and manage linked transactions. Why not contact us today to find out how we might be able to help make you move – smooth!

Neil Newstead FARLA, MNAEA

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