When do I put my home on the market?
Do I wait until I have found somewhere that I want to buy?

Answers to these two frequently asked questions are best determined by reference to the National Association of Estate Agents’ Code of Practice.

This Code requires an agent to take reasonable steps to find out from the prospective purchaser the source and availability of funds required to buy the property and to pass this information to the client (i.e. vendor). Furthermore the Code requires agents to act in the best interests of their client and to offer suitable advice to meet the client’s aims and needs.

Clearly if you need the funds from the sale of your property to pursue your prospective purchase, but have not got a buyer for your property or indeed do not have your property on the market, an agent acting in the best interests of their vendor will not recommend that they accept your offer and cease marketing the property.

Therefore, if you seriously want to move, the first step is to get your own property on the market with a good, well-established, local agent at a realistic asking price.

What happens if I find a buyer for my present home but cannot find a suitable property to buy?

No binding obligation exists between you and a prospective purchaser of your property until the representative solicitors exchange contracts relating to the sale of the property. Therefore you can withdraw from the sale at any point until the exchange of contracts takes place.

Do I pay fees if I withdraw from the sale?

Most estate agents work on a “no sale no fee” basis but check the terms of their Agency Agreements before signing.
 
 
For more information please click on a link below:
 
> The Selling Process
> The Buying Process