Hi,

I bought my first house 1.5 years back, is a 2 bed located and 10 years old in a nice quite area.

We had two children, now we have 3! so a 3rd bedroom is required as the little one is now growing up...

Now there are other houses for sale that i like, have not yet viewed...but i know that i will need to sell my house first to put a deposit down on the new place..

How would i do this? i know it wont happen over night, as there is allot to plan etc..

Any help pointer appreciated..

 

What exactly are you asking? How do you sell your house?

 

I think so, so i need to sell mine first? and if it sells i assume i have a certain amount of time to find another property...is that right?

what if i have found a house i like now?

what if my house sells an di can not find a new hose to buy straight away..?

 

you're now forming part of the chain.

so in theory you put your house on the market, and start keeping your eyes peeled for places you like.

by all means you can go and put an offer down on a house you like without a buyer for yours, but be aware that a lot of vendors will choose to sell to someone else who is chain free or already has buyers in place for their properties.

 

if that's the case, its move in to mummy house until something else comes up mate, you gotta sell yours first though I would have thought

 

If you haven't even got your house valued by an agent yet it's a bit early to be making any offers on houses you like now. Most agents wont take you seriously, they may not even show you around any houses!

Get your house valued, and on the market, and negotiate a reasonable rate for the agent's fees.
While it's on the market, start looking around at houses you like.
Then either wait for an offer to be made on your house, before making an offer on a house you like, or make an offer before you have your own offer.
It's best to have an offer on your property before you make an offer, as everyone will take you more seriously (hence the importance of first time buyers, allowing the bottom of the chain to be complete).
Then you'll be in a chain of people in the same position as you, and turns into a game of cat and mouse waiting for everyone in the chain to be ready to move.

If you find a buyer for your property, you can accept but tell them you can only move out when you have a property lined up to move in to. People realise that moving house is not an overnight thing, it can take months. If you take too long to find a property, the potential buyer may walk away and you are back to square one.

If you buy a new build, or a house that is not occuppied, then you become the top of the chain, and some of the risk is removed. If you can sell your own one before buying a new place, and move into family/rented then you are at the bottom of the chain and again some risk is reduced. If both is true (you've sold, moved out, and waiting for a new build/unoccupied) then you are not in any chain, happy days!

 

When you begin putting your house on the market start looking for other places that you can realistically afford taking into account all costs associated with buying/selling and moving.

When someone puts in a serious offer for your house you hope that you will find a house which you can move into when all the paperwork for your sale is completed. If you can't do that then you withdraw your house from sale or sell it and move into m-i-laws or rent short term. The good old days of bridging loans are over. Fun.

dl

 

Shouldn't you be looking at 4 bedroom houses and so save yourself the time.hassle/money in the near future where you will have to go through it all again?

 

Also, use a site like zoopla.co.uk or mouseprice.co.uk to look at the sold prices in your postcode/area so you can get a feel for what you should be reasonlably able to expect for your own property. Agents will often wow you with higher-than-expected valuations to get you on their books.

 

See also https://www.scoobynet.com/non-scooby...vasectomy.html

 

if you're happy to lose 15 or 20% of the market value, you can sell it to those companies that buy it straight away.

other than that, you'll be relying on a chain OR you could always go to one of the major house builders who will part-ex your house on a brand new one....

 

Assuming you are not in negative equity then your deposit for your new property comes out of the proceeds of the sale of your old propoerty. The 'cash' is all handled by the solicitor and the buying / selling happens at the same instant, normally noon on the day in question. Thus you don't have to have physically sold your house before being able to arrange to move.

 

thanks for all the info guys, i have had an extension made since i moved in, house prices seem to still be what i paid for them..hoping i will get the £25k back for the extension..

I will get the house valued next week from 2 different agents.

Just now doing the maths of mortgage payments, deposit etc..

they say once you are on the property ladder, moving up it is easy...yea right!

seems like its going to be a complete nightmare!

 

Loft extension ? 2 more rooms or nice away from the kids room up there, or is that already done.

 

cant do a loft, the roof is too low...new build house + its end of terrace..

 

Get more - I always used 5. You'd be astonished at the variation in values - plus you should also be looking at the quality of material that they provide and the deals that they do.

If you get a firm buyer and haven't found anywhere, just go into short term rental - don't lose the sale because you have nowhere to go.

Oh, and start getting the house ready for sale and keeping it ready - trust me: this is possibly the hardest bit. Declutter, neutralise, keep it tidy and smelling nice. A storage place is a good idea: you can pack and move stuff out to make the house look bigger and already have it packed and out of the way.

 

...and I thought I was clueless about house buying.

 

and remember - some builders will 'buy' your house in order to shift one of there new builds..


alan

 

At a discount equivalent to being rogered with a sandpaper wrapped marrow though?

 

hence the 'buy'

 

Much agreeness

We did that a couple of years ago and were then able to make silly offers on houses as we were the start of a chain.

The house we bought was after we made a really cheeky offer and they thought they were going to lose their 'dream house' if they didn't move quickly.

Steve