20 Mar HAVE I MISSED OUT ON THE PROPERTY BOOM?
Have you? would you wish to pay over the market price in a bidding race? Would you want the recurring disappointment of missing that ideal property because you hadn’t sold your own? or that there will be a hold up in the chain and so many others were chasing the property you wanted?
No, now you have time to reflect and prices are at more realistic levels, in fact you have lost nothing. Although the value of your property may be lower now than a year ago, so will that of the property you want to buy and the margin of difference should not have changed. In other words, if there was 20% difference previously, as long as that remains unchanged, you will be no worse off.
However, it is still a good idea to put your property on the market first and to secure a good buyer. There is many ‘a slip’ between agreeing a sale and being ready to sign a contract for a purchase and the better you are able to iron out these problems, the more likely you will be, to be able to secure that ideal purchase.