The Perennial Property Dilemma

If I see a house I like, do I need to have sold mine before I ask to view?

Many sellers are on the market as they need to move – whether for financial, work or family reasons.

At that point you will naturally be tempted to ring the agent and ask to view. One of the questions you are likely to be asked will be “And what is your current position”. By that we don’t mean whether you are sitting in your kitchen with a cup of tea or mid-way through reorganising your vinyl collection. It is about whether you would be able to progress a purchase of the property you wish to view, either because you are a cash buyer, first time buyer or have an offer on your property which is acceptable. If you are none of the above, then whether you will be able to view will depend a great deal the level of other “proceedable” interest in the property and on the vendor as some may request viewings to be only with proceedable buyers.

If you have reached this stage and remain excited by the thought of moving you need to do a few simple tasks.

First take advice on what your current home is worth - what is known as a market appraisal provided by a local estate agent. Ask for a realistic view on its value and its likely market appeal.

Have a chat with the agent to discuss whether or not the house you would like to buy is going to be in your price range. Ask about the current market;  Are houses selling quickly? How often does the type of home you like come to the market?

Secondly take some financial advice on what you can afford based on the value of your home and what mortgage repayments you can cover.

And, if you still have eyes on that dream house - and if it is still on the market – then go and talk to the selling agent.  Whilst you may still not be “proceedable” you will now be able to demonstrate a much stronger level of commitment to making a move than when you rang a week previously.

Taking this common sense approach  can go a long way in the world of buying and selling property.