SHOULD I PUT MY PROPERTY ON THE MARKET BEFORE I START LOOKING TO BUY?
Benjamin Stevens has the answer to this age old question!
You’ve made the decision that you want to move. You know roughly what property you’re looking for, in what area and how much you want to spend….. you’re good to go!
Then comes the age-old question that we get asked at Benjamin Stevens by so many of our clients….. Should I market my property before I buy?
The answer we give is always the same, no matter what the state of the economy, the housing market or social factors: you should definitely put your own property on the market first.
The simple fact is that if you find your next dream property and haven’t already put your property on the market, you could miss out on your ideal home for a number of different reasons.
The advantages are simple:
Being In A Proceedable Position:
The most attractive prospective buyer is someone who is a cash buyer with no property to sell.
However, that is not possible for many people, yet if you present to a vendor as a potential buyer who has already sold or accepted an offer on your own property, you are definitely viewed as more attractive than someone who has not yet put their current home up for sale.
If you’ve never sold a property before – put yourself in a seller’s position. Who would you rather accept an offer from – someone who is actively trying to sell their property or someone who hasn’t yet instructed an estate agent?
In the past two years, throughout the pandemic, due health and safety procedures, viewings were only taking place if the buyer was in a ‘proceedable position’. Even though things have improved and we are no longer in a lockdown, we are finding this requirement by the seller is not likely to change.
So, by putting your house on the market, having an offer in place, together with having your finances in order, a mortgage offer arranged and your solicitor instructed – you are more attractive to the seller of your next dream property.
Wiggle Room On The Asking Price:
Another advantage to consider is that a seller may also be more likely to negotiate on the asking price if you are in a position to move quickly, particularly if they are in a rush for the sales process to complete.
Be In More Control Of Your Timetable:
Another bonus to marketing your property before you start house-hunting is allowing you to set your timetable. If you have an offer accepted but your property isn’t even on the market yet, you’re already under time pressure from whoever you are buying from to get your property sold. When our clients become ‘under offer’ but have yet to find their next property to buy, we simply communicate this to their buyers and give them a realistic timetable of how long their sales process might take.
At Benjamin Stevens, with nearly 20 years experience in the property industry, our advice is that if you’re ready to buy then you’re more than ready to sell.
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Finding Your Way Home with Benjamin Stevens Estate Agents.