Why you should Always Market & Sell your Home before offering on another property.
It's a common question that we are often asked, and in this short article we will explain how marketing your house first will save you many thousands of pounds.
Selling your house before offering on the next one is the best decision you are likely to make for a number of reasons.
The first reason is we usually act emotionally when we view new properties and are likely to offer the marketed price if not slightly above, let's say we view a house marketed at £300,000 and fall in love with it we are likely to offer more so we may go up to £310,000 especially if the selling agent negotiates strongly for his seller.
The second reason is now you've secured your purchase you are under pressure to secure a buyer for your property, pressure from the agent you are buying from will lead you to make quick decisions about your own sale, and once again because our emotions will be running high at this point we will do anything to secure a buyer for our property. This will usually result in us accepting an offer that is lower than we would like but as we don't want to lose out on our "dream home" we are likely to accept it, this has now potentially cost you £20,000 by overpaying £10,000 and under accepting £10,000 on your own property.
The last reason is when we are under pressure to make decisions we can end up with the wrong type of buyer, what we mean by this is someone who is in a long chain, a buyer with a minimal deposit, and the bank call all the shots or the person who really isn't that invested and drops out at the first sign of a minor issue in the survey or valuation.
Working with an agent that understands your needs but also has a good insight into every potential buyer is paramount in the current market to allow you to make decisions that favour you and don't mean that you leave money on the table.
Alternatively, if we have already met and you would like to instruct us, please call the office.