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Should I sell or buy first?

Date Published 18 September 2021

This is a question I get asked a lot. The sensible answer is always to secure a buyer for your current home before you pursue your next property.

Why?

Well, the reasoning makes sense. Basically, once you have a buyer for your house you will know two things. How long the property chain is and how much you have accepted thus knowing how much you have to spend on your next home.

It will also put you in a really strong position and one that other agents will take seriously.
If you start viewing homes before you have sold and you see one you fall in love with, the chances are you could lose out as you can bet there are other interested parties also keen to purchase the property and they could be in a better position than you.

We find sometimes in situations like this, a purchaser will offer more money to secure the property and trade time with the owners to allow them time to sell their property that could result in you taking a lower offer for your home and buying at a higher price. We would rather sell yours for more and you buy for less meaning more money in your pocket.

Now another objection I hear is that buyers are looking for something very special and don't want to be rushed. This is ok to think this. No one wants to be pushed into making a decision especially when it involves something as expensive as a property.

We generally find once a buyer is secured, sellers often find somewhere in good time and to fit their criteria. To help secure another home, we have software that can identify any property in England by searching size of a property, say 2500 square feet, a location, number of bedrooms and price.
This software has allowed us to sell homes that do not reach the property portals and we sell them without any marketing. This is one reason why we suggest you always register your details with us to ensure that you are one of the first to be called when a new home is offered for sale.

The Billericay property market has been exceptionally busy over the past 12 months, we went through a three month period with all offers over the asking price or the asking price. The market has cooled a little in the past three weeks, although there are still plenty of buyers looking to move into the area. We are continuing to see a trend of buyers moving from the East London area keen to move to be in catchment for better schools and a more relaxed way of living. Property prices have increased in the past 12 months as the demand far outweighs the supply

Borrowing money has never been easier with many great mortgage products on the market and in some cases under 1% APR fixed terms of two or five years proving popular. It is still more attractive if you have a good size deposit and a good credit history.

If you wish to discuss any property related topics with us, please get in touch.

01277 626181