Moving House

housemover2021

Hey

This is prob a stupid question but i can't find anything like it on the boards can anyone help

We bought our house in 2004 & now want to move closer to family (have been stalking the housing market in that area for the best part of a year now watching prices etc)

So I know we will be in a "chain" (think that's what it's called) as we will be selling and buying at the same time

My problem is this
We honestly haven't a clue where to start we bought our house as first time buyers but now were do we begin as house movers?

I've found check lists/steps online for first time buyers but can't find anything relating to house movers I'm kinda looking for like a step by step what needs to happen like
1- EA value house
2-house up for sale
3-???

We both have steady jobs earn around 110k between us, we know we have equity towards the new house and we've saved for booking deposit/legal/surveys etc

My question is how do we start the ball rolling what do we do first
Can anyone help ? Basic to do list would be a massive help

Thanks so much

If you require money from the sale of your current home to buy a new one, it is highly unlikely any seller/EA will entertain bids from you unless you are close to closing the sale your current home. You are at the very bottom of the list of preferred buyers after cash buyers, first time buyers and buyers who own homes but don’t need to sell to finance purchase.

So if you want to buy, get your house on the market and approval for a mortgage as soon as possible.

Buddy Bubs

If you have access to accommodation short term to bridge the gap between selling and buying I'd suggest looking into using it. Other family members, if possible. I've seen the stress of trying to buy and sell at same time and trying to Co ordinate both. You'll come under big pressure from buyer of your current house to vacate.
Would somewhere temporary be available to you?

housemover2021

Buddy Bubs wrote: »

If you have access to accommodation short term to bridge the gap between selling and buying I'd suggest looking into using it. Other family members, if possible. I've seen the stress of trying to buy and sell at same time and trying to Co ordinate both. You'll come under big pressure from buyer of your current house to vacate.
Would somewhere temporary be available to you?

I've actually thought about that and we possibly could have room in my parents short term 🀔 but would be a squeeze partner not too keen but if needs must lol

Buddy Bubs

housemover2021 wrote: »

I've actually thought about that and we possibly could have room in my parents short term 🀔 but would be a squeeze partner not too keen but if needs must lol

Once it's short term and there's definitely an exit strategy you should be able to convince your partner!!

enrique66_35

Going through the same process and from my experience the sequence is something like
1. Find an EA you trust (recommendations help) and contact them to get their opinion on the value and ease of selling your house
2. Once you've decided on the minimum price you'd accept for your house use that as a base to work out how much equity you bring with you (i.e. sale price less EA fee - est 1.5% of sale price + VAT @ 23% - balance of the mortgage).
3. Apply for a mortgage with your provider of choice/speak to a broker (banks online calculators can be useful as well).
4. Start researching/browsing Daft/MyHome etc to see what's available in the desired area & within your estimated max budget (mortgage approval = 3.5 times gross salary + equity from own home + savings)
5. Engage a solicitor (bear in mind their office location for convenience of calling in to sign etc & family/friend recommendations)
6. Once you have offers (better yet sale agreed by accepting an offer) on your house and have mortgage approval can start ringing up EAs looking for viewings on houses that interest you.
7. When you go sale agreed on the new house get a surveyor's report (engineer) & any other professional reports (drains survey etc) you think might be necessary.

Then the fun starts trying to balance the two transactions so they progress at the same rate. Be prepared for plenty of stress and dealing with EA selling your house, EA of the house you're buying, your solicitor & the bank/broker.

As others have mentioned also wise to scope out possible temporary accommodation as its very very difficult to close both sales at the same time to allow you go from one house to the other.

You should also budget for storage costs of your furniture & belongings, cost of surveys, solicitors fees & stamp duty on new house (1% of purchase price). Best of luck - its not a quick or stress-free process in the slightest but keep focussed on your future in the new house to keep ye going!!

Navy blue

I have a similar question, but what do you do if you're happy to stay in your current home until the right property comes up? Is it better to have your house on the market and just don't accept an offer til something comes available (within reason of course) or wait to put the current house up for sale until you've seen something suitable and hope you get a quick sale for your own?

housemover2021

enrique66_35 wrote: »

Going through the same process and from my experience the sequence is something like
1. Find an EA you trust (recommendations help) and contact them to get their opinion on the value and ease of selling your house
2. Once you've decided on the minimum price you'd accept for your house use that as a base to work out how much equity you bring with you (i.e. sale price less EA fee - est 1.5% of sale price + VAT @ 23% - balance of the mortgage).
3. Apply for a mortgage with your provider of choice/speak to a broker (banks online calculators can be useful as well).
4. Start researching/browsing Daft/MyHome etc to see what's available in the desired area & within your estimated max budget (mortgage approval = 3.5 times gross salary + equity from own home + savings)
5. Engage a solicitor (bear in mind their office location for convenience of calling in to sign etc & family/friend recommendations)
6. Once you have offers (better yet sale agreed by accepting an offer) on your house and have mortgage approval can start ringing up EAs looking for viewings on houses that interest you.
7. When you go sale agreed on the new house get a surveyor's report (engineer) & any other professional reports (drains survey etc) you think might be necessary.

Then the fun starts trying to balance the two transactions so they progress at the same rate. Be prepared for plenty of stress and dealing with EA selling your house, EA of the house you're buying, your solicitor & the bank/broker.

As others have mentioned also wise to scope out possible temporary accommodation as its very very difficult to close both sales at the same time to allow you go from one house to the other.

You should also budget for storage costs of your furniture & belongings, cost of surveys, solicitors fees & stamp duty on new house (1% of purchase price). Best of luck - its not a quick or stress-free process in the slightest but keep focussed on your future in the new house to keep ye going!!

Thank you so much for your help you've put my mind at ease that we are on the right path I really appreciate it we have an EA coming to value our house next week so let the fun begin lol 😀

tscul32

Navy blue wrote: »

I have a similar question, but what do you do if you're happy to stay in your current home until the right property comes up? Is it better to have your house on the market and just don't accept an offer til something comes available (within reason of course) or wait to put the current house up for sale until you've seen something suitable and hope you get a quick sale for your own?

We did this when buying our current home. Saw a house we wanted, scoped it out and put ours on the market, knowing it should sell quickly, which it did. That was in 2011. We're at that point again, either improve or move. We saw one we liked, explained our situation to the EA, told him where our current house is and he said that would sell quickly and easily and would we like to view the other one. Wasn't for us in the end but we're still keeping an eye. Extension costs are crazy at the moment and builders are up to their eyes so I'd say well just keep looking for the next year at least. But we won't sell unless we find the right home to buy. We love the area, have kids happy in school, including secondary, so still want easy access. Not sure we'll find the house we want and if we don't then we'll stay put.
If your house is a good first time buyer home then they seem to be selling like hotcakes so a good EA should know that won't be an obstacle.

Navy blue

tscul32 wrote: »

We did this when buying our current home. Saw a house we wanted, scoped it out and put ours on the market, knowing it should sell quickly, which it did. That was in 2011. We're at that point again, either improve or move. We saw one we liked, explained our situation to the EA, told him where our current house is and he said that would sell quickly and easily and would we like to view the other one. Wasn't for us in the end but we're still keeping an eye. Extension costs are crazy at the moment and builders are up to their eyes so I'd say well just keep looking for the next year at least. But we won't sell unless we find the right home to buy. We love the area, have kids happy in school, including secondary, so still want easy access. Not sure we'll find the house we want and if we don't then we'll stay put.
If your house is a good first time buyer home then they seem to be selling like hotcakes so a good EA should know that won't be an obstacle.

Thanks so much Tscul, that's the exact situation we are in! Love the area but just need a bit more space. Our house is a perfect starter home in pretty good condition so I could see it selling quite quickly. We have a viewing next week on a house that I reckon is pretty underpriced, so even if we did like it, there would probably be a fair bit of bidding and counter bidding so that might buy us some time!

bootser

Navy blue wrote: »

Thanks so much Tscul, that's the exact situation we are in! Love the area but just need a bit more space. Our house is a perfect starter home in pretty good condition so I could see it selling quite quickly. We have a viewing next week on a house that I reckon is pretty underpriced, so even if we did like it, there would probably be a fair bit of bidding and counter bidding so that might buy us some time!

Hi Navy, I'm possibly in a similar situation going to look at a property on Friday and if thats positive then putting mine on the market(have spoken to EA no problem to sell). So...how have you gotten on so far??!

Navy blue

bootser wrote: »

Hi Navy, I'm possibly in a similar situation going to look at a property on Friday and if thats positive then putting mine on the market(have spoken to EA no problem to sell). So...how have you gotten on so far??!

Still no further on I’m afraid. The house we liked had gone 100k over asking price the last I heard! Now it was underpriced to begin with, but this is rural Cork we’re talking about so that seems a bonkers increase! Nothing else suitable within our budget has come up in the meantime. I think we’re just gonna forget about it for the moment and see if prices stabilise a bit. We’re in no hurry to move so in that sense it’s not a good time for us to be moving.

bootser

Navy blue wrote: »

Still no further on I’m afraid. The house we liked had gone 100k over asking price the last I heard! Now it was underpriced to begin with, but this is rural Cork we’re talking about so that seems a bonkers increase! Nothing else suitable within our budget has come up in the meantime. I think we’re just gonna forget about it for the moment and see if prices stabilise a bit. We’re in no hurry to move so in that sense it’s not a good time for us to be moving.

Yeah, its a bit mad where i am too(Meath)! Not getting to excited bout this viewing Friday, have a feeling the advertised price is more of a starting price:( We have been looking/not looking for over a year now and it feels like everytime we delay prices go up again!! Best of luck with your search!

bootser

OK, quick update. I got outbid, Went in at the asking half a week later EA came back with the latest bid 30K above mine, said I'd go 5K more. EA came back and said the other bidder wud match that and had cash😫. Another one gone😪

tscul32

We're viewing again today. Haven't been asked what our situation is yet but I'm sure it'll come up at the viewing later. And they already have a big, 15k below asking, so I'm not really expecting to get it. But still want to see it. Looking around our own house though, I'm wonder I g how on earth we'd ever get it ready for sale. Anyone know how to make a teenage boy's room not smell like a teenage boy's room?

tscul32

Update - loved the house. Asked about our situation, explained we'd only sell if we had a definite to go to and any offer would be made without ours being sold. The answer was that if we sell with them they'll do their best to make it work. So far no offers on the one we want so we've arranged for the EA to come round after the weekend to get a value and then we'll make an offer. Now we have 4 days to gut the house! 3 kids have a lot of crap.

listermint

Tbh I'd never allow the EA sell my house that I was buying a house from. They'd be fully versed in your own house sale and thus budget. Why would you want that ?

tscul32

Not really, as they know nothing of our budget, outstanding mortgage or how much savings we do/don't have. I think it would be different if we were looking for something and had a max possible budget (e.g. I wouldn't like them to know how much we were approved for if we were first time buyers) but we're only looking for half the mortgage amount that the bank would actually give us. I'm hoping it might work in our favor that the EA will have no sale fee from us unless we get this house and if we're the only bidders they may be more inclined to recommend accepting our bid than holding out for a higher one. It'll be in their interest to have us buy the house we're after.

Nardeant

Sounds like you've got an exciting journey ahead. Even though my response might be a bit late, it could still help others in a similar boat. Starting the ball rolling on moving house involves a few key steps. First, have an estate agent value your current house – that's step 1. Then, get your place up for sale – step 2. Consider reaching out to professionals like surveyors to check out potential new homes.

Nardeant

https://www.boards.ie/discussion/comment/121073961#Comment_121073961

Consider reaching out to professionals like surveyors to check out potential new homes. Speaking of moving, when I relocated from London to Birmingham, I found using professional moving services a blast. If you're curious, check out this link for packing box delivery in London: https://vpsmart.co.uk/packing-box-delivery-london/. It's all about making your move as smooth as possible.