Buy or sell first?

It’s a question as old as time itself - what do you do first – sell your property or buy a property?

Many of us have a deep-seated fear and are terrified that if we sell the place we’re in and we’ve got nowhere to go, we’ll have nowhere to live.

If you have the resources to buy a new property outright – you’re home and hosed, but if you don’t have the available cash and you buy a place first, the risk is that you have legally committed yourself and you may have to seek bridging finance so will be paying interest on two properties.

However, there can be a very attractive upside to buying first, before you sell. When you buy first you know exactly where you’re moving to and when. If you decide to buy, you will be ready to jump when the perfect property becomes available.
 
Just make sure that you don’t get caught out. You don’t want to get into a situation where you might have overestimated the value of your existing property, you’re selling at a loss and you get stuck with servicing two loans.
 
Invite an astute local agent to come through and she or he will give you a changeover analysis and work out the cost of selling your existing property and the purchase costs of the new property. From there you will at least have some information to make an educated decision. It is very important to make an informed decision, look at the financials and keep the emotions to one side.
 
If you do decide to purchase first, there are a number of things that you can do that make your place easier to sell quickly when the time comes. The future belongs to the prepared so give yourself adequate time to prepare.
 
There are many things that have to be done for a property to get to market. There are actually 135 components to list a property, to sell it and settle. If possible, if you are an investor, have photos of the property done months in advance so the marketing campaign can be prepared. Typically, it takes at least two weeks of solid work to prepare a property for sale. Properties need to be tidied and cleaned, photos have to be taken and approved, editorials have to be written and approved, specification documents need to be created and signboards organised.
 
Consider the big picture. A quick purchase needs a quick sale.

For more information and find out what your property is worth or for our free change over chart to help calculate exactly what your costs will be for a move. Call in to pick one up or phone the office to have one posted out to you.

Regards

Jason Partridge

0407 009 226
02 6584 6400

Port Macquarie Real Estate

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I have just purchased a property in East Port and am very happy with the service that I have received from Patterson Real Estate. They have been efficient, timely and courteous and I would recommend them to anyone wishing to sell or buy a property.

We cannot speak highly enough of Jason Partridge with regard to selling our block of land. Jason went far and beyond our expectations, liaising with builders to look at possible land and house packages to help with the sale of the land and alao assisting us with fencing legislation when a fence needed to be erected on one side of the property. Jason's friendly and helpful manner made selling the property a whole lot easier especially as we lived interstate. We highly recommend Jason!

Working with Jason from Patterson Real Estate was like a dream and I can't praise him highly enough. From the very first phone call I knew my villa was in good hands, and right up until the settlement of my property he was amazing. This was my first experience of selling a property and I was expecting a stressful experience. How wrong I was! Jason made the whole process easy, explaining it all as it unfolded and he took care of absolutely everything. He looked after my tenants, created amazing advertising both as fliers and on-line, and produced a property showcase booklet that was nothing short of beautiful. I can highly recommend him and if I ever sell again, I wouldn't want to work with anyone else.

Jason Partridge's communication and follow up during the sale of our house was excellent. He kept reassuring us that all would come together in the end, and it has. Thanks Jason!  Brian & Bev

I found Jason Partridge to be more than helpful both in the sale of our home and the purchase of our new place. He really went above and beyond our expectations. He got us more than we expected for our sale and without his help on our purchase property we would have probably missed out. He was always available and able to answer our questions and had great suggestions. I thoroughly recommend Jason and Patterson Real Estate to anyone buying or selling a property. Integrity and diligence are the hallmarks of this business.   Max & Karen

Following their invitation to have our family residence of some 30 years valued by Patterson Real Estate, my aged mother contacted the company accepting their offer for a no obligation valuation. My mother, after having had a complete hip replacement was already considering downsize; to live closer to family and had actually sighted a suitable property in Sydney. Under guidance of Patterson Real Estate Licensed Agent Sherryl Robinson, the property value was assessed and the mechanics of placing the property on the market were fully explained. The valuation advanced by Patterson Real Estate appeared to be quite reasonable considering the age of the property and its condition and if achieved under sale, the cost of changeover for my mother would be minimal. A number of interested buyers inspected our property prior to first open day – and even though open day was quite busy, one of the earlier buyers indicated interest and in a very short time, followed through with the purchase. Throughout the process of the selling of the property, Sherryl was always available for advice and assurance that things were going to fit our timetable for the purchase of the Sydney property. Even at rather busy times for her, Sherryl returned calls promptly and answered our queries without hesitation. At times, Sherryl called us, to see how much progress was being achieved in organising our move – not to hurry us up, but simply to give us a little encouragement and assurance that things were proceeding normally. We enjoyed the enthusiasm which Sherryl was able to share. It was a pleasure to work with someone who enjoyed and knew what she was doing. We would not hesitate to recommend Patterson Real Estate to anyone wishing to sell or purchase a property. Ina & Terrance Nilsson