Is buying and selling a house at the same time possible ?

In short, the answer is yes. Whilst the process will require a lot of synergy between you (the buyer) and them (the seller) as well as both of your mortgage brokers, solicitors, and estate agents, if both parties are motivated; it can be done.

In fact 95% of all house sales and purchases proceed on the day they’re planned for.

But if you don’t plan on moving into the new property on the day of the sale, then you will need to consider what you will do upon leaving your home.

What do most people do once they have exited their home following a sale? 

It may not have been a thought you have ever pondered, but the process of selling a house is so clearly mapped out for us:

  1. Valuation of the property
  2. Find a real estate agent to place the property on the market
  3. Find a buyer
  4. Complete the sale

But once the sale is completed, what options are available to the seller? 

There are three popular options homeowners utilise when selling their property

  1. The first is to agree to a sale, and move into alternative accommodation whilst searching for a property to purchase. This could include lodging with friends or family, or staying in a hotel. This can often be wildly inconvenient and expensive,  there are also other costs to consider such as renting storage units for your furniture and/or paying for a hotel.
  1. The second option homeowners opt for is a secondary mortgage on the new property. This allows them to purchase, move in to, and then relinquish the old property. This is a great choice if you’re financially comfortable enough to afford two properties and their respective bills, for as long as it takes to sell the previous property. 
  1. The third option, which is the purpose of this article, is to buy and sell on the same day, now this option comes with its own set of challenges.

As with any purchase of a property you will require a solicitor to represent you in the purchase, but this purchase can only happen if the sale of your property concludes. The risk here is that if either the sale or the purchase falls through, you can be left with large legal bills.

The second obstacle is, if you start looking for a property prior to placing your own on the market you won’t have a clear idea of what your budget is, or how long your own property will take to sell.

Needless to say buying and selling on the same day is a balancing act and would certainly require expert advice. LWK are well versed in buying and selling on the same day. We can take you through the process step-by-step, highlighting what needs to be done to successfully and painlessly complete this transaction.

Sell my Property Dublin

LWK has helped countless property owners sell their property, and move into their new home on the same day. All at the best possible market rate. LWK offers a comprehensive and full free valuation of your property regardless of intent to sell.

If you would like to speak to us here at LWK about your property, get in touch today. We are happy to help in any way we can.


More Posts

Send Us A Message