Selling and Buying at the Same Time: How to Keep Your Move on Track

Finding your next home is exciting, but coordinating a purchase with the sale of your current property can feel like a balancing act. Which should you do first? What happens if the dates don’t line up? And how does a property chain work?

For homeowners in Devon, a clear plan and good communication can make the process easier to manage.

Should you sell before you start looking?

You can start exploring areas and properties whenever you like. However, putting your current home on the market early can help you understand your likely sale proceeds and how much interest your property attracts.

Having a buyer in place also gives you a clearer position when discussing an onward purchase. Be open with estate agents about whether your home is on the market, under offer or still being prepared for sale.

Understand your moving budget

Before committing to a price range, speak with your mortgage adviser or lender about your options.

Allow for the costs of both transactions, including estate agency fees, legal work, surveys, removals and any applicable Stamp Duty Land Tax. Ask about any charges associated with your existing mortgage.

A mortgage agreement in principle can help with planning, although it is not a guaranteed mortgage offer.

Know how the chain fits together

A property chain forms when linked purchases depend on other sales completing. Your buyer may need to sell their home, while the person you are buying from may also be purchasing elsewhere.

Ask your agent about the chain’s position and any outstanding steps. Searches, mortgage arrangements, surveys and legal enquiries can all affect progress, so treat proposed moving dates as provisional until your conveyancer confirms otherwise.

Get your paperwork ready early

Choose your solicitor or conveyancer early and ask what they need from you.

Gather documents relating to alterations, guarantees and any relevant permissions. For leasehold properties, ask about the management information required and how it will be obtained.

Return forms promptly and provide accurate answers. If you are unsure about a question, seek advice from your conveyancer.

Understand exchange and completion

In England, accepting an offer does not generally make the sale legally binding. That happens at exchange of contracts. Completion is the later stage when the purchase money is transferred and ownership changes hands. GOV.UK explains exchange and completion.

Discuss how your sale and purchase will be coordinated with your conveyancer, including the completion date and arrangements for funds.

Keep communication moving

Let your agent and conveyancer know about holidays, availability and any changes to your circumstances. Ask for clear updates on what is outstanding and who needs to act next.

Preparation cannot remove every uncertainty, but it can help you respond quickly and make informed decisions throughout your move.

Planning your next move? Contact Winfields to arrange a market appraisal and discuss selling your current home while searching for your next property.