Your Step-by-Step Guide to Buying and Selling a Home

How to ensure your property chain moves smoothly without any delays

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IN AN IDEAL WORLD, you would sell your home the moment you put it on the market and then have all the time you need to find your next dream property. Unfortunately, most situations involve buying and selling a house simultaneously, resulting in a housing chain. If you are planning to manage this dual process, preparation is essential.

Securing an Offer on Your Current Home

Typically, you should secure an offer on your current property first. Your subsequent offers are much more likely to be accepted when you are ready to proceed.

Valuing Your Home and Budgeting

Before making any concrete plans, you need a clear idea of how much your current home is worth and what your budget looks like.

Getting a Valuation and Planning Your Budget

Invite local estate agents to value your property, taking into account any unique features or recent improvements. Once you have an accurate figure, work out your finances. Calculate the equity in your current home and determine how much you can afford to spend next. You also need to factor in additional moving costs, such as stamp duty, estate agent fees, and conveyancing charges.

Getting Your Paperwork Ready

To prevent unnecessary delays later on, gather your key documents early. You will require proof of identity and address, along with any guarantees for new appliances, electrical certificates for rewiring, and records of boiler servicing.

You must also obtain an Energy Performance Certificate before your property goes on the market, unless you already have a valid one from the past ten years. Consulting with us at this stage, we will help you decide whether it’s appropriate to port your current mortgage or secure a new one.

Preparing Your Home for Sale

You can achieve this by removing bulky furniture, giving your walls a fresh coat of neutral paint, and maximising your kerb appeal by ensuring windows and roofs are well-maintained. Once your home looks its best, instruct an estate agent to market the property and start looking for a reliable conveyancing solicitor so they can begin work as soon as you accept an offer.

Navigating Offers and Surveys

When offers start coming in, evaluate them carefully. You naturally want to consider the price, but you should also look at the buyer’s circumstances to assess if they are reliable and motivated. Once you agree to a sale, you are in a strong negotiating position and should immediately begin your house hunt. When you find the right property, revisit your finances to ensure it fits your budget, including any potential renovation costs, before submitting your formal offer.

Once your offer is accepted, instruct your conveyancing solicitor to carry out local

searches to identify boundary issues or missing building control certificates.

Arranging Surveys and Checks

At the same time, you should organise an independent survey to assess the condition of the property you are purchasing. This will warn you of any hidden problems you might encounter once you move in. If the survey reveals any concerns, you can always renegotiate the price, ask the seller to resolve the issue, or withdraw entirely.

Communication and Completion

The key to smoothly managing a property chain is strong communication. Read, sign, and return any paperwork from your solicitor or conveyancer promptly. It’s also very helpful to stay in direct contact with the other buyers and sellers in your chain, or ask your estate agent to keep track of progress and encourage everyone to keep moving forward. When multiple parties are involved, keeping everyone informed helps prevent delays and reduces overall stress.

Once all surveys and local searches are completed and any issues are resolved, you are finally ready to exchange contracts and set a completion date that suits everyone.

Exchanging Contracts and Moving Day

At this stage, you can organise your removals and arrange for the transfer of your utility supplies. On completion day, funds are transferred between solicitors, and they will confirm that the keys can be released. The conveyancers will register the transfer of ownership, and you can finally move into your new home.

Ready to Take Your Next Step and Find the Right Mortgage

If you’re preparing to buy and sell at the same time and need expert guidance to keep your property chain moving smoothly, and to find the right mortgage, we are here to help.

Contact Us

Cedar Crest Ltd – telephone UK T: +44 (0) 203 883 1017,

UK (For Cantonese and Mandarin enquiries):

+44 (0) 7888 431091 

+44 (0) 7724 344788 

HK T: +852 6645 4462 

SINGAPORE: +65 8363 9221

– email info@cedar-crest.co.uk 

Your home may be repossessed if you do not keep up with repayments.