Yes, you can make an offer on a property before selling your current house. Many buyers do this, particularly when they move to an area with a competitive market, such as London, and want to secure the property.

However, your position as an existing homeowner can influence how your offer is viewed by sellers, who may prefer proceedable buyers. We discuss the ramification of this in the guide below.

What is a proceedable buyer?

A proceedable buyer is someone in a strong position to buy their new home without delays or uncertainty. This usually means:

• Their current home is already sold (subject to contract), or
• They’re not part of a property chain, or
• They have strong financial backing

Sellers are often more likely to accept offers from proceedable buyers as there’s less risk of delays or the transaction falling through.

What happens if your home hasn’t sold yet?

If your home hasn’t sold yet, your offer may still be considered by the sellers but potentially viewed as less secure compared to offers from other buyers. They may be hesitant to accept if you’ve made the offer before selling your house, as it means you’re part of a property chain or are still waiting to find a buyer.

There are also a few risks to be aware of when buying before selling:

• Your purchase could be delayed if your own sale takes longer than expected
• You may feel pressure to accept a lower offer on your existing home
• There is a risk of additional costs if you need temporary accommodation or storage
• In some cases, transactions can fall through if the chain breaks

How to put an offer on a house before selling yours

If you’re thinking about making an offer before selling your home, there are a few steps you can take to strengthen your position with sellers and improve your chances of success.

Get your home market-ready

A well-presented, competitively priced property is more likely to attract serious buyers and help you become a proceedable buyer faster.

Speak to a mortgage adviser

A mortgage adviser will help you understand how much you can borrow and ensure you’re prepared to move quickly if your offer is accepted.

Be clear about your position

Be transparent when putting in an offer and let the estate agent know what position you’re in; whether your house is on the market, under offer or yet to be listed. Clear communication helps make a good impression on the sellers and strengthens your position as a buyer.

Can you reserve a new build before selling your home?

If you’re looking to buy a new build home, the process can sometimes offer greater flexibility. Some developers allow buyers to reserve a house before their existing property is sold, depending on individual circumstances and timescales. This can be particularly helpful for buyers making an offer on a house before selling theirs.

Thinking of moving to Marylebone?

Our 100 George Street apartments are situated in the heart of Marylebone, with boutique shops, cafés, green spaces, and more things to do, just moments away.

In competitive London markets like this, making an offer on a house before selling yours often comes down to preparation and timing. Understanding your buying position, having your finances in place and ensuring conveyancing [BS2] is ready to move quickly can all help strengthen your offer and position as a buyer.