31
Jan
Chicken or Egg? Buy First or Sell? By Blackshaw Homes Estate Agents
in Southend on Sea
Chicken or Egg? Buy First or Sell? By Blackshaw Homes Estate Agents
in Southend on Sea
For homeowners in Southend on Sea wishing to sell their property
and buy another, it’s the classic dilemma – which do
you do first, buy or sell?
There is probably no all-encompassing answer. Typically, people
initially investigate the market to find out what they can buy for
their money. Inevitably, during this research they fall in love
with the “ideal” property. As they have yet to sell,
they find themselves in a weak position as purchasers and are
unlikely to have anything but an asking price (or even higher)
offer accepted. After all, why should a vendor limit the sale of
their property to the saleability of someone else’s?
Even if terms are agreed, then what? You end up being forced to
sell quickly, possibly at a low figure, so that you don’t
lose your new property. Annoyingly, once a property goes under
offer, everyone seems to want it!
The difference between your expensive purchase and cheap sale
could cost you as much as 20% more than the cost of the move in
more controlled circumstances.
So be cool. Sell from a position of strength, and buy using the
power of cash. A proceedable purchaser is a joy to the ears of an
estate agent and their client.
As for that dream home – isn’t it rather a
coincidence that the perfect property just happens to be on the
market at the precise moment you are looking? There is always
another one around the corner, and it may even be better! And if
you don’t find a suitable property in time, then you are
hardly likely to be homeless, as nobody is going to force you to
sell until you are ready – it is entirely your decision.
We as estate agents in Southend on Sea, aim to reduce the
pressure of moving for our clients in many ways, but our answer to
the chicken and egg scenario is emphatic …the egg!