One of the most common scenarios we encounter is people in a quandary as to whether they should find a house first, and then put their house on the market. Or whether they should put their house on the market and find a buyer first, before they then try and find a house. The most common objections… to selling their house first, that all agents hear, are these: – I don’t need to put my house on yet, because if I find somewhere I like, then it won’t be a problem selling my house. It will sell within a few days. I might not find anywhere that I like if I put my house on first and let my buyer down. I could end up homeless if I sell my house first. It is an age old problem. But let’s have a look at these problems, one by one.
“I don’t need to put my house on yet, because if I find somewhere I like, then it won’t be a problem selling my house. It will sell within a few days.”
If us estate agents had a pound for every time we heard this, there’d be no estate agents around! We’d all be living in the Bahamas. But seriously, this is the most common thing we hear from sellers. But it is the most misguided piece of information you will ever hear when someone is thinking of moving. But however much us estate agents try, people just don’t believe us when we say they should sell first. But it’s genuinely not advice that we give out to try and get your house on the market with us. It’s advice that we know will help you to move house, which is what the end goal is. Some people are right – their house does sell in days. But even this might be too late to secure the house of your dreams that you have spotted – even 24 hours might be too late – if you’ve just found your dream house, it’s probably someone else’s dream house as well…and one of those other people, will have done the smart thing, and put their house on the market and have found a buyer FIRST, so that they’re ready when their dream house does comes up. The owner will accept the other person's offer because they are able to proceed and move forward, even if you offer a higher price.
What you’ve got to remember, is that the agent is acting in the best interests of the property owner and advising the owner to accept an offer from someone who hasn’t even got their house on the market, is not going to happen. It’s not acting in the best interests of the seller. Put yourself in the same shoes; if you had two offers – one from someone who needed to sell their house in order to buy yours, and one from someone who had sold their property and had a complete chain… There are not many people that would take the risk on someone who hasn’t sold their house, regardless of the amount offered.
Which brings me on nicely to the next point on this; if you’re offering on properties without having sold your own, you’re straight away, in a weaker position. And the thing that we see people do all the time when they are in a weaker position is pay more money – too much money – because they are compensating for the fact they haven’t sold their own property. So, if you do manage to secure a house when you haven’t sold your own, then you’ll have probably had to pay over the odds for that property. So, by not putting your house on the market and finding a buyer before you find a property not only lessens your chances of securing a house, it also weakens your position when you do find somewhere, which could end up costing you more money because of your weakened position.
“I might not find anywhere that I like if I put my house on first and I’ll let my buyer down”
Correct. You might not find somewhere you like and you may end up letting your buyer down. But this is a whole lot better, than the scenario above. With the scenario above, you are unlikely ever to secure a property in the first place and you will always let yourself down, and may never end up moving. At least with a buyer in place, who has been made fully aware of the fact you haven’t found anywhere yet, you can go viewing houses safe in the knowledge that you have given yourself a fighting chance of securing the property of your dreams. We find that a buyer will normally stick around for an average of 2-3 months if you haven’t found anywhere, as long as you let them know what the position is right from the outset and keep them up to date with how your search is going, then they’ll be fine with waiting around for a period of time.
“I could end up homeless if I sell my house first”
No you couldn’t. Not unless you decided to make yourself homeless. Just because you accept someone’s offer, doesn’t mean you have to go through with the sale. It is only once you have exchanged contracts that you are legally bound to sell the property to the buyer. And exchanging contracts doesn’t happen for a number of weeks after a sale has been agreed. And even if that date did come along, the solicitors will not exchange contracts without your permission – they always get authorisation from you to do that. Of course the buyer, the agent and the solicitors will want you to go through with it, but as long as you keep everyone informed right from the start, then no one will be upset or surprised if you pulled out.
From my experience, people that have needed to sell their house in order to move, have more often than not, actually moved house when they have put their house on before they have found somewhere and, frankly, it is very rare that a home seller has managed to buy first, and sell second!
So if you really want to move, get yours on the market and let your agent look after the various situations that may arise.
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Kirsty Hodgson Bespoke Estate Agent
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**THREE BEDROOMS**SEMI DETACHED**NO UPPER CHAIN**DRIVEWAY**EPC RATING B**
This is a well presented modern property built in 2019 with a EPC rating of B. This semi detached home is in lovely position on Valley Rise. The property is available with HIVE gas central heating and available as …a freehold. The property is immaculately presented.
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Kirsty Hodgson Bespoke Estate Agent
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Jarvis Drive, Crawcrook 200,000
Kirsty Hodgson Bespoke Estate Agent
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1st December VIBES!!! 🎅🏼🎄🎁
CHRISTMAS TREAT GALORE TODAY!
Lindt chocolate calendar from one of our solicitors, hotel chocolates from a supplier, and wine from one of our four completions yesterday and today!!!!
Love Christmas and Love 1st December 🥳🥳🥳
Kirsty Hodgson Bespoke Estate Agent
2 days ago
**END TERRACE**GARAGE**ENCLOSE GARDEN**SUMMERHOUSE**WELL PRESENTED**FREEHOLD**
This is a well presented property is a fabulous position! Situated in a tucked away end plot at the end of a cul de sac, with the added benefit of a detached single garage at the end of your garden. The …property has gas central heating and will be bought as a Freehold property, as the current owner is currently in process of purchasing the Freehold.
Shaftoe Close, Crawcrook 145,000
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Kirsty Hodgson Bespoke Estate Agent
4 days ago
**VERY EXCITING NEWS***
I have partnered up with Ina & Richard. They are the most wonderful lovely couple with years of experience!!! They have ran estate agency businesses across Europe and have now settled with there two boys in Fourstones, Hexham. They adore the area and have been… here for a few years now. They are so happy to have partnered up with Kirsty Hodgson Bespoke Estate Agent. They have the same focus to customer service and always doing what's right for the customer.
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Kirsty Hodgson Bespoke Estate Agent
5 days ago
Kirsty Hodgson Bespoke Estate Agent
7 days ago
Are you a Christmas Grinch?
Have you put your tree up?
Are you putting the Christmas Dec's up this weekend or next?
In our office we have a split….. My self and Ina LOVE Christmas, and Ailsa and Sue are Christmas Grinches and won't talk about Christmas …yet!
When are you sprinkling the Christmas Spirit in your homes? I would like to do it this weekend, but I am a little busy, so possible I will be doing it Friday night or Saturday next week.
Personally I can't wait!!!!!!
#lovechristmas #christmasgrinch
Kirsty Hodgson Bespoke Estate Agent
1 weeks ago
It was a privilege to be shortlisted and invited to last nights London's prestige annual 'The Negotiator Awards' with 1.5k estate agents across the UK! 👏👏👏
Kirsty Hodgson Bespoke Estate Agent
1 weeks ago
One of the most common scenarios we encounter is people in a quandary as to whether they should find a house first, and then put their house on the market. Or whether they should put their house on the market and find a buyer first, before they then try and find a house. The most common objections… to selling their house first, that all agents hear, are these: – I don’t need to put my house on yet, because if I find somewhere I like, then it won’t be a problem selling my house. It will sell within a few days. I might not find anywhere that I like if I put my house on first and let my buyer down. I could end up homeless if I sell my house first. It is an age old problem. But let’s have a look at these problems, one by one.
“I don’t need to put my house on yet, because if I find somewhere I like, then it won’t be a problem selling my house. It will sell within a few days.”
If us estate agents had a pound for every time we heard this, there’d be no estate agents around! We’d all be living in the Bahamas. But seriously, this is the most common thing we hear from sellers. But it is the most misguided piece of information you will ever hear when someone is thinking of moving. But however much us estate agents try, people just don’t believe us when we say they should sell first. But it’s genuinely not advice that we give out to try and get your house on the market with us. It’s advice that we know will help you to move house, which is what the end goal is. Some people are right – their house does sell in days. But even this might be too late to secure the house of your dreams that you have spotted – even 24 hours might be too late – if you’ve just found your dream house, it’s probably someone else’s dream house as well…and one of those other people, will have done the smart thing, and put their house on the market and have found a buyer FIRST, so that they’re ready when their dream house does comes up. The owner will accept the other person's offer because they are able to proceed and move forward, even if you offer a higher price.
What you’ve got to remember, is that the agent is acting in the best interests of the property owner and advising the owner to accept an offer from someone who hasn’t even got their house on the market, is not going to happen. It’s not acting in the best interests of the seller. Put yourself in the same shoes; if you had two offers – one from someone who needed to sell their house in order to buy yours, and one from someone who had sold their property and had a complete chain… There are not many people that would take the risk on someone who hasn’t sold their house, regardless of the amount offered.
Which brings me on nicely to the next point on this; if you’re offering on properties without having sold your own, you’re straight away, in a weaker position. And the thing that we see people do all the time when they are in a weaker position is pay more money – too much money – because they are compensating for the fact they haven’t sold their own property. So, if you do manage to secure a house when you haven’t sold your own, then you’ll have probably had to pay over the odds for that property. So, by not putting your house on the market and finding a buyer before you find a property not only lessens your chances of securing a house, it also weakens your position when you do find somewhere, which could end up costing you more money because of your weakened position.
“I might not find anywhere that I like if I put my house on first and I’ll let my buyer down”
Correct. You might not find somewhere you like and you may end up letting your buyer down. But this is a whole lot better, than the scenario above. With the scenario above, you are unlikely ever to secure a property in the first place and you will always let yourself down, and may never end up moving. At least with a buyer in place, who has been made fully aware of the fact you haven’t found anywhere yet, you can go viewing houses safe in the knowledge that you have given yourself a fighting chance of securing the property of your dreams. We find that a buyer will normally stick around for an average of 2-3 months if you haven’t found anywhere, as long as you let them know what the position is right from the outset and keep them up to date with how your search is going, then they’ll be fine with waiting around for a period of time.
“I could end up homeless if I sell my house first”
No you couldn’t. Not unless you decided to make yourself homeless. Just because you accept someone’s offer, doesn’t mean you have to go through with the sale. It is only once you have exchanged contracts that you are legally bound to sell the property to the buyer. And exchanging contracts doesn’t happen for a number of weeks after a sale has been agreed. And even if that date did come along, the solicitors will not exchange contracts without your permission – they always get authorisation from you to do that. Of course the buyer, the agent and the solicitors will want you to go through with it, but as long as you keep everyone informed right from the start, then no one will be upset or surprised if you pulled out.
From my experience, people that have needed to sell their house in order to move, have more often than not, actually moved house when they have put their house on before they have found somewhere and, frankly, it is very rare that a home seller has managed to buy first, and sell second!
So if you really want to move, get yours on the market and let your agent look after the various situations that may arise.
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