When it comes to buying and selling your house, there are many important decisions and considerations that you have to take into account. One thing you may be thinking about is the possibility to buy a house before selling your current one. In an ideal world, you would put your house on the property market, and it would sell immediately. In the real world, that is not a possibility. Perhaps you have listed your property at a time which is not optimal, or maybe you have spotted a property which you are eager to purchase. In any case, in this article we will address the question about whether you can buy a house or have a bid accepted before you have sold your current property.
Can you buy a house before selling your own?
The simple answer is that yes, but it is a big risk. Of course, you will have to take on a lot of additional debt, which naturally comes with risk, unless you can afford to do it with your own funds. In terms of bidding on a house before selling your home, this is also a possibility. However, in doing so, you do put a timeline on when you must agree a sale on your house by.
Should I buy before I sell?
The answer to this question really comes down to personal choice. We would recommend that you only bid and begin the buying process on another property if you can be fully confident that your property will sell quite quickly. It goes without saying that the seller will not want to wait around for your property to sell, which could just result in them becoming frustrated and seeking other bidders. In addition, many estate agents will not remove the property from property portals unless you reach the stage of instructing solicitors and proving that you have sufficient funds.
What are the pros of this option?
There are many advantages of buying before you sell if you can fund the purchase through additional lending or savings. Some of these advantages include the fact that it takes a lot of the stress out, as part of the chain is removed. You are also less of the risk to the seller in terms of the property sale falling through. This option also means that you can take your time and find the perfect property, as opposed to feeling pressure to buy something due to your property selling.
How can FastCash4Houses help?
FastCash4Houses is a property buying company which can help if you are looking for a fast sale. Once you tell us about your property, we will give you a no-obligation cash offer within 24 hours. This quick turnaround will give you more than enough time to go ahead with your property purchase.
In any case, get in touch with the team at FastCash4Houses and we will advise you on how you can buy a house before you fell your own.
