Buying & Selling a House at the Same Time

February 10th, 2021
Buying & Selling a House at the Same Time

Purchasing and selling a house is something that people do all the time, but if you’ve never done it before, you may not have any idea how to do things.

Thankfully, it’s not difficult to purchase and sell a house if you follow the step-by-step guide.

With that in mind, let’s take a look at what we have on offer as a guideline.

 

 

 

The first thing that you need to do is get a valuation on your current property. This will give you a rough idea of how much you can sell your property for, so you will be able to set a budget for yourself.

We will need to hire a professional to perform a valuation for you, because they will be able to give you a proper number on how much your property will actually be worth. If needs be, get more than one valuation, and pick the estate agent that you feel would give you the best value.

If you are going to find your own property, and buy a house, you need to look on the market. Look at the house that you want, because this will give you a better idea of how much money you’re going to need. Typically, this will involve a combination of selling your house and taking out a mortgage to pay the difference, if the value of your property is less than the value of the property you want to buy.

Once you have found a property that you want, and put an offer in for that, you have to put your own property on the market.

Estate agents will come and show people around the house to sell it to them in the best way possible. They will then put an offer in, and it is up to you to either accept or decline the offer depending on your needs. Obviously, you’ll have a set price you need to move, so be prepared to hold your ground or go a little lower.

If you’re going to accept an offer on your property, you need to then get a mortgage to split the difference. If the value of your property is less than the value of the property you want to buy, you will need a mortgage to afford it. There are many different financing options and payment plans, but expect to spend at least 10 years paying back any mortgage you take out.

Now that you have applied for a mortgage, and you have accepted an offer, you need to just sit back and wait. All parties have to have the offers on the properties they want to buy accepted and offers on their existing properties locked in, as well as all financing sorted, the moving process can begin. Once you’ve paid all the relevant costs and signed a deed, you will own the property, which means you can find a removals company to move everything.