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The prospect of selling your house before you have established where you are going to move to may seem daunting, but the reality is a huge number of home hunters actually find the property they want within a relatively short time.
So, don’t be afraid to sell first – then buy.
Selling first means you will have your financial arrangements already taken care of and you have the freedom to bid at auction, or to make an offer knowing you are in a strong position to negotiate on price and time.
There are two major financial considerations to buying before selling: –
- If you make an offer on a property before your house is even on the market, the seller of the property you want is less likely to be willing to negotiate on the price or terms.
- Selling your house as a condition of contract to buy another, usually means you have a very limited time in which to complete a sale for your existing property. This means you can be under pressure to accept a low market offer.