Which was first?
Which was first - The Chicken or The Egg…
Chicken - meet egg, now we have that out of the way, is there a right or a wrong time to sell or buy? A question that is posed all the time by both entities. Can a time be defined as being good or bad? Is there indeed a connotation of negatively biased appropriation to one side?
Look at it one way, you see a property, you sell your property, you buy & complete on said property and the roses couldn't smell sweeter. What is the other way I hear you cry - so the old fashioned way was to find, gain opinions, set the price and venture onto the open market; then... wait.... and wait.... and wait some more. In more cases than not, the property that was wanted was sold to another buyer, so the sellers desire wains but the property remains marketed, appearing unloved or tarnished as such the idea of moving pails into insignificance and ceases.
There must be another way that is positive and constructive - what about marketing before you find?
(Gasps are heard throughout the readers)
Hang on, hear me out, would you go buy a car, boat or even your shopping without your wallet? I guess not, so why find first - then sell? It puts enormous stress and pressure on you. There is a strong probability that you will sell low and buy high in an effort to secure a buyer and in turn your onward purchase. It will also leave you with little or no ability to direct or alter timescales in the transaction, as you are the link-pin who is almost certainly holding the 'chain' together. Looking at marketing first (you will, I am sure have a predetermined area you want to be in), allows you time on your side, breathing space if you will, no pressure and no need to make rash or misguided decisions.
When you look at it another way - a buyer will always wait (not indefinitely) but will do all they can to assist in the transaction, as they have found what they want and wish to hold onto it and not lose it, therefore working in harmony with you.
Doesn't that seem like a much better idea, you'll actually be excited to move, not stressed and harangued.
As a buyer - you just want to find your new pad, you will have timescales, of that it is a certainty, but when looking at the transaction, you are able to release pressure by working with the seller. There are many many methods of securing the purchase and allowing the seller time. It is essential that you are both rowing in the same direction, if not, you're going to go round in circles and ultimately become quickly disgruntled with the process and associated professionals. Speak with your solicitor & mortgage broker (who should also both be speaking with each other) - they do this everyday and will I am sure have some great tips and helpful hints.