Can You Put an Offer on a House Without Selling Yours?

If you’ve spotted your dream home but haven’t yet sold your current property, you might be thinking, ‘Can you put in an offer on a house before selling yours?’ The short answer is yes, you absolutely can. However, the long answer is slightly more complicated.

In today’s competitive UK housing market, where buyers act quickly, it is becoming more common for people to consider buying before selling. However, this approach has a number of important implications, including how sellers will perceive your offer, what financial risks you may be taking, and what options are available to help bridge the gap.

This guide investigates whether it is prudent – or even possible – to make an offer before selling your home, as well as practical tips for strengthening your position and lowering risk.

Can you make an offer without selling your house first?

Yes, you can make an offer on another house before selling your own. In fact, many buyers do this, especially if they are moving for work, relocating, or have simply found the perfect home and don’t want to pass it up.

However, just because you can make an offer does not guarantee it will be accepted. Sellers prefer buyers in strong positions – ideally, cash buyers or those who have already sold their current home (or accepted an offer). If your house isn’t even on the market yet, you might be perceived as a less trustworthy option.

However, there are ways to increase your credibility while still making the purchase.

Why would someone buy before selling?

There are a few important reasons why buyers may choose to make an offer before their own property is sold:

• Time sensitivity: The ideal home may be available right now, but the sale could take weeks or months
• Market confidence: You expect your home to sell quickly, especially in a hot market
• Personal circumstances: Perhaps you’ve experienced a life event, such as a new job, that necessitated a quick relocation
• Avoiding the rental gap: Some buyers prefer to stay in their current home rather than rent during the transition period

What are the potential risks?

Making an offer on a property before selling your current one is not risk-free. Here are some of the common pitfalls:

1. Weaker negotiating position

Sellers typically prefer buyers with fewer complications. If you are in a chain or have not accepted an offer on your home, your offer may be perceived as less secure, especially if the seller wishes to move quickly.

2. Chain-related delays

If your sale falls through, it may cause your new home purchase to be delayed or cancelled. Sellers may become impatient and move on to a different buyer.

3. Financial strain

Unless you have significant savings or equity, you may find yourself paying for two mortgages, two sets of utility bills, and double council tax. This can have a serious impact on your finances.

4. Complicated mortgage applications

If you don’t know how much your current home will sell for, it can be difficult to determine how much you can afford to borrow, especially if you intend to port your existing mortgage or need to raise additional funds.

Your main options if you haven’t sold yet

If you haven’t sold your house but want to buy, you can consider the following strategies:

1. Put in a conditional offer

One of the most popular solutions is to make a “subject to sale” offer. This means that your purchase is contingent on you selling your current home. It can buy you time, but keep in mind that sellers do not have to wait for you and may accept offers from buyers in stronger positions.

2. Use a bridging loan

A bridging loan is a short-term financing option that enables you to “bridge” the gap between purchasing and selling. While this can be effective, it is often expensive, with higher interest rates and fees, so you must be certain that your home will sell quickly.

This option is ideal for people who have significant equity in their current home and a good credit score.

3. Let-to-buy mortgage

If you can’t sell but still want to relocate, you may be eligible for a let-to-buy mortgage. This entails remortgaging your current property as a buy-to-let and using the rental income to cover the mortgage on your new home.

However, not all lenders offer let-to-buy options, and you must pass affordability checks on both properties.

4. Sell quickly to a cash buyer

If time is of the essence and you want to go ahead with your purchase, you can strengthen your position by selling your current home quickly to a cash buyer, like Sell House Fast. These services can complete sales in a matter of weeks, freeing up funds and taking your property off the market.

How to strengthen your offer without selling first

If you want to make a strong offer before selling your home, you can take the following steps:

• Obtain a Mortgage in Principle (MIP): This shows sellers that you are serious and financially prepared
• List your home as soon as possible: The sooner it hits the market, the greater your chances of moving forward quickly
• Price competitively: If you want to sell quickly, consider using a competitive pricing strategy to attract buyers
• Use experienced professionals. A good estate agent and solicitor can help you move quickly and navigate complicated chains
• Show flexibility: If the seller requires a longer timeline, being flexible may give you an advantage over other buyers

Pros and cons of making an offer before selling

Pros:

• You can close quickly on a dream home
• This eliminates the need for temporary rental or storage
• Keeps your life moving on your own terms, not the market’s

 Cons:

• Financial risk if your home does not sell quickly
• Sellers may see it as less desirable
• If your chain fails, you risk losing money or experiencing delays

Need to sell quickly?

If your house is preventing you from making an offer on your next home, we can help. Sell House Fast buys properties across the UK and specialises in chain-free sales, allowing homeowners to quickly access the equity in their home and move forward without hassle.

There are no estate agent fees, legal costs, or stress – just a quick, dependable sale that gets you moving forward.

Get your free, no-obligation cash offer today and take control of your move.