DO YOU SELL FIRST OR BUY FIRST?

22 Apr 2021| Posted by: Dave Tidbold

If you want to sell your home and buy another, which comes first – selling or buying? There seems to be dangers whatever you choose.

If you sell first, you have nowhere to live. If you try to buy first subject to the sale of your property, you will be competing with other buyers who have the money ready to go.

If you buy first, you may not be able to sell – unless you sell fast and cheap costing thousands. Here’s a fact you need to know, approximately 80% of people who buy a house subject to the sale of their own house are not successful.

So, what do you do – sell first or buy first? The answer is neither. Instead, do them both at the same time. It’s the safest way. Plus, it gives you complete control with low pressure.

How To Buy And Sell At The Same Time

First, you place your home for sale. Here is the point which will give you great confidence – placing your home for sale does not mean selling your home.

If you put your home for sale, you can – at any time before you sign a contract with a buyer – change your mind.

You are entitled to do this because, as the owner, you can sell under your conditions.

Your condition is that you will not sell before you find another home to buy.

The solution to selling and buying at the same time can be summed up as follows:

List Your Home for Sale - Listing your home for sale does not mean selling your home.

Find a Buyer for Your Home - We will find a buyer who will accept the condition of you finding another home before you sell.

Negotiate the best price and best conditions that suit you - Many buyers are prepared to give you the following options:

1. Several weeks to find a suitable property to buy, if not you may decline to sell. With this option the buyer signs a contract and you sign nothing.

2. A flexible rent back option.

3. A long settlement of 90-120 days.

Find a Home to Buy - You can now find a home and make a confident offer knowing your finances and settlement date. Your offer will be still conditional upon your property being finalized, becoming unconditional and settling on the same day.

Sell old home. Buy new home - Once you have completed the purchase you can now sign off on your property’s contract of sale knowing everything will all line up smoothly.

You can sell under your conditions. Your condition is that you will not sell before you find another home to buy.

Remember, if you sell with us you will be safe. We offer you a NO SALE, NO CHARGE service with ZERO advertising costs.

We hope this article has been helpful. If you would like to discuss these stages of selling, please feel welcome to email us at sales@tidboldrealestate.com.au or call us any time - 07 3207 6000.