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Timings where selling and buying a new place to live

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  • 19-02-2015 5:20pm
    #1
    bazermc
    Registered Users Posts: 3,116 ✭✭✭


    Folks

    Looking for some advice on timings where selling and buying a new place to live. My current property has just been put up for sale. I plan to move once sold i.e. downsizing.

    I will be using part of the equity carried over from my current property (I will have a cash gain selling price less mortgage & agents fess) supplemented with a movers mortgage already approved by my bank.

    Obviously If I cant sell i cant move or buy a new place. Therefore I presume I should not contract to buy a new property until I sign a contract to sell my current property i.e. not expose myself?

    My plan is to look for suitable properties while my current property is being viewed etc but agree to nothing until I get sale agreed on my current property. Then all going well my sale and purchase can be worked on by various parties at the same time. To complicate matters I wont be using the same solicitor for a sale and purchase.

    Does anybody have any tips on how this works or does not work in reality

    Cheers


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