Buying a house when already having an existing property to sell?

When buying a new house while having an existing property to sell you should determine your budget, before you start your house hunt, it's crucial to establish a realistic budget. Calculate the equity you expect to receive from the sale of your current property, any savings, or investments you can contribute, and any mortgage you might need. You should consult with a financial advisor or a mortgage broker to get a clear understanding of your financial capabilities. 

You should speak to an Estate Agent and arrange a valuation on your own home and selecting a reputable estate agent who specializes in the local market where you intend to sell is very important. They can help you with your search, provide valuable insights, and assist in the selling process of your current property. Choose an agent who understands your needs and can coordinate both transactions seamlessly. Timing is Key: the timing of buying and selling is critical you should try to align your purchase and sale as closely as possible. You can sell your current property first and then rent temporarily or negotiate a longer completion date with the seller of your new house.

You should also Prepare Your Current Property, to maximize its sale price, ensure your existing property is in the best possible condition. Consider making any necessary repairs, declutter, and stage the home to appeal to potential buyers. Your estate agent can also advise you on the best strategies to market your property effectively. You should also be Prepared to move quickly, once you've found a property you want to buy, be prepared to act swiftly. In a competitive market, good homes can sell quickly. Having your current property on the market and ready for viewings before making an offer on a new house can give you an advantage. Negotiating Offers: when you receive offers on your current property, carefully evaluate them with your estate agent. Make sure you're comfortable with the terms and timing of the sale and negotiate if necessary. You should also seek legal advice from a solicitor or conveyancer experienced in property transactions. They will handle the legalities, contracts, and necessary searches for both your sale and purchase. Also consult with your mortgage broker to secure the necessary financing for your new home.

If you are hoping to secure a property before you put your own property on the market, it may be to your advantage to have all your photos and marketing material prepared by the media team ready to go on the market to be a step ahead, this will save you some precious time. Once you have found a property, the next step would be to book your home report in, your estate agent can organise that for you and within a few days you could be live on the market. Your estate agent should also be working in the background looking through the database and matching your property with potential buyers.