Sunderland Property Market Review : September 2024 Update

Should I put my home up for sale before I start searching for a new one?

As an Estate Agent in Sunderland this is one of the most common questions I get asked. Much like the classic chicken-and-egg puzzle, it can be tricky to decide where to start when planning a property sale. So, here’s some guidance to help make things clearer and smoother.

Be ready to act quickly when you find a home you love

It’s rare for sellers to accept offers from buyers who still need to sell their own property and haven’t started the process. Listing your home signals that you’re serious about moving, making sellers more willing to consider your offer once you secure a buyer.

Practical Steps – Getting ready to move

If you’re considering a move, your first step should be to arrange a professional valuation of your current property. Knowing your home’s market value will help you organise your finances and plan your budget for your next purchase. 

1.     Professional Valuation – Know what your property is worth
2.     Financial Advice – speak with a mortgage advisor or your current lender who can help you explore the best options for your financial situation.
3.     Research thoroughly before listing — Think about the areas you’d like to move to, and what kind of property you’re looking for. 
4.     Keep an eye on the market — If you’re serious about moving, stay alert for new listings so you don’t miss your ideal home. 

5.     Get your paperwork organised — If you secure a sale before finding your next home, make sure your documents and admin are in good order. Instruct a reputable solicitor, get financial advice early.
6.     Seek mortgage pre-approval — If you need to port your mortgage or gain additional lending, it’s wise to get pre-approved. This not only saves time later but makes you a stronger buyer in the eyes of sellers.
7.     Be proactive in your search – By staying proactive in your search for a new home, you’ll avoid delays that could make your buyers nervous or cause them to lose confidence—and potentially risk losing them altogether.

Once your property is on the market—or even better, under offer—you’re in a much stronger position when it comes to viewing and offering on new homes. Estate agents and sellers are far more likely to take your interest seriously if you’re already on the market or have a sale agreed. You’ll often be given priority for viewings, especially on properties attracting high demand.

When you’re ready to make an offer, being under offer yourself means you can proceed more quickly and negotiate with greater confidence. Sellers are far more likely to accept offers from buyers who have already sold or are close to doing so, rather than from those who still need to list their own property
Curious about your home’s value? Looking for an Estate Agent in Sunderland? Book a free, no-obligation property valuation with us today.