Experts think it's best to sell your existing home first. You'll then have cash in the bank, no chain and can rent in your chosen area, on hand for early viewings of new properties.
 Estate agents
Most people use estate agents to buy and sell their homes. For valuing, advertising and selling your house you'll pay around 2-3% commission on the sale price, plus VAT. When buying, rural estate agents should also be the starting point. Make face-to-face contact, sign up to mailing lists and call in regularly to find out if anything new has come in. Let them know you're ready to move; they'll work harder for you if they think it will be a quick sale.
Newspapers
The DIY approach to selling can save an average of £4,500. From erecting a `For Sale' sign to placing ads in the national press, you'll have to put effort into promoting your property and showing buyers round. Local newspapers offer houses to buy and an accurate view of the property market.
Property finders
If you haven't got time to search for your dream house, consider using a relocation agent. For a fee of about 1% of the purchase price, they'll help you sell and buy, organise viewings, finance, negotiations and paperwork.
Part exchange
Like cars, you can part-exchange your old house for a new one. New housing developments often come with the option of an `assisted move scheme'. If time is of the essence and you want a new build, this option speeds up your house move and takes away the pressure to sell your own home.
Auction
For a quick sale and completion you can't beat buying or selling through an auctioneer. You'll pay 2-3% commission to put your home under the hammer but if it doesn't sell you don't pay a penny. People who buy houses at auction are expecting a bargain - the pay-off is having to fork out 10% of the selling price immediately, with completion in 28 days.
Internet brokers
Essentially a matchmaking service, online property brokers don't ask for a percentage but charge a small fee to advertise your property (between £50-£300) to potential buyers. Use this in conjunction with an estate agent and you'll double your chances of selling without double the commission. Buyers can also view a large amount of properties in one go - great if you're looking at a wide geographical area. |
