If you’ve decided to move house and have identified your budget, where you’d like to live and what kind of property you want, you are ready to start house-hunting.
However, if you haven’t already put your property on the market, you could miss out on your ideal home if your property takes longer to sell than you anticipate.
Perils of being late to join the property chain
If you’ve ever sold a property, you’ll appreciate why a prospective buyer who has already sold or accepted an offer on their own property is more attractive than someone who has not yet put their current home up for sale.
Even with the best estate agent on their side working hard to sell a property, the prospective buyer will be playing “catch up’ to try and complete their house sale on the same day as you want to move.
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?
Benefits of marketing your home before you start your property search
If you have already sold your property or accepted an offer, you will be far more attractive to anyone selling their property than someone whose home is not even on the market.
And, if you have already got your finances in place, a seller will almost certainly accept an offer from you over someone yet to start marketing their property.
There’s less chance of being gazumped
If you put in a decent offer for a property, the seller is unlikely to later accept a slightly higher offer from anyone not working hard to sell their property.
There’s no rush to accept a low offer for your house
If you start marketing your property before you start house-hunting, your timetable is not dictated by whoever you are buying from.
If you don’t need to make a quick sale, you will not feel pressurised into selling for less than you’ve been advised you can achieve.
A seller may accept a lower offer from you if you are ready to move
If the seller is looking to move quickly, they may accept a lower offer from you if you are in a position to move quickly – especially if you have already secured a buyer.
You’ll know exactly how much you can spend on a new property
If you’ve already sold or accepted an offer on your home and received an agreement in principle from your mortgage lender, you’ll know exactly how much you can spend on the purchase of your new home.
If you’re still on the market but know that your house has been valued accurately by a reputable estate agent, you’ll still have a good idea of your budget.
Make sure you’ve considered all the fees and expenses involved with buying a new property for an accurate picture of your finances.
What if your property sells before you find your ideal property?
Of course, your property may be snapped up the moment it goes on the market, potentially leaving you without anywhere to live.
Once you find a property you want to buy, a good estate agent will negotiate with the seller to secure a completion date that meets your timescale but, you do need to consider what you’ll do if this can’t be achieved.
Consider where you’ll live if you achieve a quick sale
If you need to rent, this could be expensive – especially if it takes several months to find and move into your new property.
You may also need to store your furniture and belongings if you have to move out before you can move into your dream home.
Can Sims Williams help you sell your property?
If you decide it’s better for you to start marketing your property before you start the search for your next home, Sims Williams can help you find potential buyers.
We take a proactive approach and contact customers about suitable properties the minute they land on our books – often before they are advertised on our website or on Rightmove.
As the leading independent estate agent in Arundel, Chichester, Walberton and the surrounding villages across the coastal strip, we’re regularly the number one estate agent on Rightmove.
We’ve been helping customers to buy and sell their homes since 1981 and our professional team have unrivalled local knowledge and experience.
Call us to arrange a free market valuation or visit one of our offices in Chichester, Arundel and Walberton and let’s get moving.