Should I wait till I find a new property before selling mine?
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Simon Gerrard, president of the National Association of Estate Agents answers your property questions.
This is probably the second most common question estate agents get asked. There is a simple answer – NO.
There are many potential sellers who are putting off placing their own home on the market until they have found somewhere to buy, but this can lead to major disappointment and losing your dream home to someone who is in a better position to progress the purchase as “their home is under offer.”
Marketing your home early not only gives you time to achieve the best price, it puts you in a much better position when you find your next home.
If you are looking in a popular area, there will be a lot of competing buyers. A seller is more likely to be swayed by a buyer who may not offer the best price but is in the best position with a buyer in place or already has their property being actively marketed. If you are not yet on the market, this won’t be you.
So my advice is that once you have identified an area you want to move to, settled on a budget, refined and narrowed the criteria of your new home; this is the time to place your own property on the market, but it’s important to instruct the right agent at the right price. You should also consider instructing an agent that can help you with your search.