Should you sell first or buy first?

Many prospective vendors ask the question 'should I sell first or buy first?' It's a very important question with serious ramifications if not executed correctly and could cost tens of thousands of dollars in the transfer!

If a vendor is looking to do the upgrade, or downsize, and looking to sell and buy at the same time, then now has never been a better time to do so. But make sure you do it in the same market! (Same market conditions - usually within a 2-3 month time frame)

The golden rule in real estate when this question is posed, is to sell your home first. This way you are under no pressure to sell because you have bought and are forced to sell!

But there are exceptions to the rule, and depending on the type of home and area you are looking to sell or buy, this will further assist in knowing which to do first! If it's a unique type of property and looking in areas where they are not readily available, then buying first could be the best option.

The first step one should take is get independent & impartial advice from a solicitor, mortgage broker and vendor's advocate.