1. Before you start viewing, work out how much you can spend
Start with an estimate of what your current home might sell for and what you would have left afterwards. Deduct any outstanding mortgage balance and the costs of selling. Then allow for the cost of buying and moving. Run the numbers again with a lower sale price or a longer selling timeline than you expect.
If you need a mortgage, speak to your lender before making an offer. Ask what your budget would look like in two scenarios: once you have sold and while you still own your current home. That will help you see whether you can afford a gap between the two transactions.
2. When the right home comes up, decide whether you can go ahead
If you need the proceeds from your sale to buy your next home, selling first gives you a clearer budget. Work out where you would live if you had to hand over the keys before your new home was ready. Weigh the cost of temporary accommodation against the extra time it gives you to choose.
Buying first can make sense if you can afford to carry both homes for a while, even if the sale takes longer than expected. Could you go ahead with buying your new home if your current one took a few extra months to sell?
If the purchase depends on selling or securing finance, make that clear before you offer. Ask the professionals advising you how the conditions and deadlines can be put in writing before you commit.
3. How I coordinate your sale and purchase
If you are selling and buying at the same time, I help you manage both transactions together. I liaise with the parties, the bank and the professionals handling completion to propose realistic dates and see where there is room to negotiate. If you need the sale proceeds to buy, we confirm when the money will be available before setting both completion dates.
I can help you negotiate a handover date for the home you are selling so you have time to get the keys to your new home and arrange the move. If either transaction is delayed, I help you work out which dates can move and speak to the people involved.
4. What to negotiate in the CPCV
If the parties are signing a promissory sale and purchase agreement, known in Portugal as a CPCV, this is the time to agree deadlines for completion, moving out and handing over the keys. If your purchase depends on selling another home or securing finance, discuss that condition before you sign and ask the professional reviewing the agreement how it should be worded.
You might need access to your new home before the purchase completes so you can move furniture in. Or you might need to stay in the home you are selling for a few days after the sale completes to finish moving. If the parties agree, I can help you negotiate that extra time and work with the professional reviewing the agreement to record it in the CPCV for the purchase or the sale, as appropriate. It helps to set out in writing when and why you can have access or stay on, when the keys will be handed over, who covers any costs and what happens if completion is postponed.
5. If there is a gap, I can help you organise the move
If your new home is only available later, I can help you weigh up whether temporary accommodation makes sense. Sometimes you already have somewhere to stay for a few days and just need a place to keep the furniture you are taking with you. In that case, I can help you look for a self-storage unit or a company that rents storage space for the period you need.
We can work out the cost of each option, including accommodation, storage and furniture transport as needed. I can also help coordinate dates with the removals company and plan furniture collection and delivery. That way, you know what to do if you hand over one set of keys and collect the other on different days.
Jesús de SousaCENTURY 21 Move On