Should I Sell Before I Buy? A Guide for Bromley Homeowners

It's one of the most common questions we hear from homeowners thinking about moving:

"Should I put my property on the market before I've found somewhere to buy?"

For most people, the answer is yes.

It can feel counterintuitive. Why sell your home when you haven't found your next one?

However, getting your own property under offer first can put you in a much stronger position when the right home eventually comes along.

Here's why.

What does being "proceedable" mean?

You'll often hear estate agents describe buyers as proceedable.

Generally, this means they're in a position where they can realistically move forward with a purchase.

For example, a first-time buyer with a mortgage agreed in principle may be proceedable because they don't have a property to sell.

Similarly, a homeowner who already has a buyer for their existing property is in a much stronger position than someone whose home hasn't even gone onto the market yet.

When you're competing for a desirable property, that can make a significant difference.

Imagine you're the seller

Put yourself in the seller's position.

You've received two offers for your home.

Buyer A has already sold their property to a first-time buyer.

Buyer B hasn't put their property on the market yet.

Even if both buyers offer exactly the same amount, which one would you feel more comfortable accepting?

For many sellers, it will be Buyer A.

Buyer B still needs to instruct an estate agent, arrange photography, launch their property, conduct viewings, receive an acceptable offer and establish a chain.

That could take weeks or even months.

And there's no guarantee it will happen at the price they expect.

Finding your dream home first can create pressure

This is one of the biggest problems we see.

Someone finds the perfect house and has an offer accepted subject to selling their own property.

Suddenly, they're under pressure.

They need to get their home photographed.

They need viewings.

They need an offer.

And they need all of that to happen quickly enough that the seller doesn't become impatient.

That can completely change your negotiating position.

Instead of calmly marketing your property and waiting for the right buyer, you may feel pressured to accept an offer because you're frightened of losing the house you've fallen in love with.

Selling first can make you a stronger buyer

If your property is already under offer, you're in a much better position when you start offering on properties.

An estate agent can tell their seller:

"They've already sold their property and their buyer is ready to proceed."

That's a much stronger proposition than:

"They need to sell their house first."

This becomes particularly important when several buyers are interested in the same property.

The highest offer isn't always automatically the best offer.

A seller may prefer a slightly lower offer from someone in a stronger position if they believe that buyer has a better chance of completing.

But what happens if I sell and can't find anywhere?

This is understandably the biggest concern.

Accepting an offer on your property doesn't mean you're moving out next week.

There's still a conveyancing process to go through, and you don't have to exchange contracts until you're comfortable proceeding.

Your estate agent should also be communicating with your buyer from the beginning.

If you need time to find your onward purchase, that should be made clear.

The key is managing everyone's expectations.

Could I lose my buyer?

Potentially, yes.

A buyer isn't obliged to wait indefinitely while you search for another property.

That's why communication is so important.

If several months pass and you still haven't found anywhere, your buyer may decide they can't wait any longer.

However, we'd generally rather have a seller in the position of having a buyer and looking for a property than having found their dream property and desperately trying to find a buyer.

What about selling and moving into rented accommodation?

For some homeowners, there's another option.

They sell their property, complete the sale and temporarily move into rented accommodation or stay with family.

This breaks the property chain completely.

It isn't suitable for everybody and there are additional costs and practical considerations involved.

However, it can put you in an extremely strong position when buying.

You effectively become a chain-free buyer.

You can then wait until the right property becomes available rather than feeling pressured into buying something simply because your own sale is progressing.

Should I accept an offer before I've found somewhere?

There's no universal answer because everyone's circumstances are different.

But accepting an offer doesn't mean you immediately lose control of the process.

Before accepting, we'd want to understand the buyer's circumstances.

Are they a first-time buyer?

Are they selling something themselves?

Do they have a mortgage agreed in principle?

How quickly do they need to move?

Are they prepared to give you some time to find an onward purchase?

The quality of the buyer matters just as much as the number they've offered.

What if I'm looking for something very specific?

This is where the advice can change.

If you're looking for a particularly rare property, perhaps a specific road, school catchment, property style or very narrow price range, we'd want to discuss that before putting your home on the market.

There may be circumstances where waiting makes sense.

That's why good estate agency isn't about applying exactly the same strategy to every seller.

Your circumstances should determine the strategy.

Our advice to Bromley homeowners

For most homeowners planning to move, we'd recommend starting the process of selling your existing property before finding your next home.

That doesn't mean you need to rush.

It means getting yourself into the strongest possible position.

You can arrange a valuation, prepare your property for photography, understand its likely selling price and start generating interest while you're searching.

Then, when the right property appears, you're ready.

In a competitive market, that can be the difference between having your offer taken seriously and watching your dream home go to another buyer who was simply in a better position.

Thinking about moving?

If you're considering selling your property in Bromley, Petts Wood, Chislehurst, Bickley or the surrounding areas, we'd be happy to discuss the best strategy for your circumstances.

At Mark Hart Real Estate, we'd rather understand what you're trying to achieve before recommending when and how you should sell.

Because selling your property isn't the end goal.

Getting you successfully moved is.