How to successfully buy and sell a house at the same time in Ealing & Northfields (without losing your mind!) Part 2

Last time we looked at how to get you ready for buying and selling your home, now we look at the second half of the process.

Start looking for your new home

Now that your house is on the market, it’s time to start looking for your new home. This can be an exciting time, but it’s important to be realistic. You may have to compromise on some of your criteria for the perfect property. 

When looking for a new property, consider what is most important to you – is it location, size, style or another factor? Think about the type of property that would suit your needs and wants, and stick within your budget. If your ideal home is outside your budget, try to look at houses that are close to what you want and could, potentially, be updated. 

Take your time searching for a new home and don’t rush into any decisions. 

Negotiate

Negotiation is a key part of the process when you’re buying and selling a house at the same time. You need to ensure that you get the best price for your old home, while also making sure you’re paying the right price for your new one.  Your estate agent will be your main negotiator in this process, so make sure you have chosen one with a proven track record of successful negotiation.

When it comes to the sale of your current home, the aim is usually to achieve a quick sale at the highest possible price. The most important thing to remember is that while you may want to get the best possible deal you also need to take into account the time it will take to complete the transaction. If you need to move quickly due to other commitments, make sure your estate agent understands this and sets realistic expectations.

When it comes to negotiating the purchase price, it is essential that you are aware of what similar properties in your area have sold for recently. This will help you decide whether or not the asking price is reasonable and if there is room for negotiation.

The sales process

Once you’ve found the right buyer for your home, it's time to begin the sales process. This can be a stressful time as there are lots of steps that need to be taken in order to ensure a successful and stress-free transaction. It’s essential to be on the ball, communication is key to holding sales together, as no one likes to feel left out in the cold.

Ensure that paperwork is sent and returned swiftly, calls are always taken, and emails replied too, with a strong team around you they will iron out any bumps in the road quickly.

Exchange contracts

Exchanging contracts is the process of legally transferring ownership of a property from the seller to the buyer. It is one of the most crucial steps in the house buying and selling process, as this is when the parties enter into a binding agreement and the buyer pays the deposit.

Exchange of contracts marks the point where the sale of a property is legally binding. At this stage, both parties must agree to the terms of the sale and sign two copies of the contract – one for each party. Once exchanged, neither party can withdraw from the transaction without legal or financial implications.

What still needs to happen?

The next step is for the buyer’s solicitor to check that all documents are in order and that there are no legal issues with the sale. This includes making sure that any outstanding payments from the seller have been made and that the seller has met their obligations. When all checks have been completed, the completion date can then be set. 

The completion date is when the money is transferred, and you legally complete the sale. You should make sure that you are available on this date so that you can sign any necessary documents and ensure everything is completed correctly. 

Once the completion date has been agreed on, you should make sure that you keep communication flowing with all parties involved in the sale. Make sure to stay in touch with both solicitors, as well as the estate agent and the buyer, if possible. This will ensure that nothing gets missed and that everyone knows what is happening at every stage of the process. 

Move out and move in!

Once you have completed your negotiations and exchanged contracts, it is time to move. When moving out of your old property, it’s important to leave it clean and tidy for the new owners. Taking the time to deep-clean can make all the difference for your new buyers, and only what you would expect when you arrive at your new home.

When moving, organisation is key. Label boxes so you can easily find what you need, and make sure you have an essentials box with all the things you need when you arrive, such as chargers, toilet roll, light bulbs and tools.

Once you’re all settled in, why not make it feel like home? Start unpacking and don’t forget to take regular breaks. It can be an overwhelming process, but it’ll all be worth it once everything is done.

When you are ready to buy and sell in Ealing & Northfields, please give our team a call on 020 3488 6445.