Many who receive a good offer for their home turn it down because they have not yet found “the right property” and worry that they will in effect become homeless should they sell first (although we have never known this to happen!)
Of course the problem would become a self-fulfilling prophecy if everyone were to take this stance, and the entire market would grind to a halt. But in reality it isn’t that bad and, whilst we don’t have a magic wand, the closest thing we have to a miracle cure is to encourage sellers to have a little faith. Because as soon as you find a buyer, amazing things can happen!
First, the fact that you have a buyer in place positions you as a “red hot buyer” with estate agents; certainly “hotter” than a buyer who has a property to sell, which is yet to be put on the market. This means you will be offered new properties as soon as they come onto the market, often ahead of public marketing or portal exposure. Secondly, you are in a much stronger negotiating position when you do find a property you like, meaning that you are preferred to other buyers who may be in a weaker position. Thirdly, you may well find that once you are psychologically committed to your sale, you’ll have a clearer focus on which property will actually suit you best. It’s easy to “umm and ah” when there’s no pressure!
Remember, you are not committed to the sale of your property just because you accept an offer. Naturally you will not want to waste the time and money of your buyer, but providing everybody is fully aware of the status this is unlikely to be an issue. Your buyer will be happy in having found the home they want to buy, a home that wouldn’t have been an option for them had you not put your property on the market and with a buyer secured you can now be proactive in your search for a new home in the knowledge you will be seen in a good light by the agents you are viewing with.
So, in essence, if you need help making a decision, find a buyer for yours first! We pride ourselves on our ability to create and manage linked transactions, with sales progression / management a key part of the service we provide and one of the most, if not the most, important. Just give us a call if you have any questions on this topic.