Things to consider when you are selling your home and also trying to buy a new home
- Are you selling your home but have not found another property to purchase and are concerned about where you will live in the interim? Ask your Solicitor or Conveyancer about the option to rent or lease the property from the new owner for a period to enable you time to find your next home. We can draft clauses (special conditions) into your sale contract that stipulate a lease or license agreement that you would rent the property back for a period, at a certain price. This clause could be negotiated with any proposed purchaser but must be included in any contract prior to exchange.
- If you have found a new property to buy, talk to your Solicitor or Conveyancer about having your sale and purchase settlement at the same time (simultaneous settlement).
- Generally, the deposit that the purchaser pays to you is held until the settlement (the end). But did you know that you can ask for the deposit to be released early (on exchange), so that you can use this money as a deposit so you can buy another property. If this sounds like something you would want, talk to your Solicitor or Conveyancer when they are preparing your sale contract (as such clauses must be added or in a contract before exchange).