Process of Selling and Buying a House in North London

Selling and buying a house at the same time can be daunting as you will be part of a chain, but you can put yourself in the best possible position by following this process. In our guide, we explain how to sell and buy at the same time so that you can anticipate each stage.

Zoopla anticipates home sales to rise in 2025, and you may be planning to put your house on the market. Perhaps you’re moving to Dollis Hill for its village feel or a flat in Queen’s Park for Bakerloo Line access, or looking to upsize to a spacious house in Willesden Green or Neasden. Whatever is prompting your move, be it budget, space or location, great planning can make the process of selling and buying a house in North London run smoothly.

Selling and buying a house at the same time process

What happens when you buy and sell at the same times? This is the process you will follow to juggle both transactions.

1.Assess Your Finances

Establish what you can spend on your new property, so estimate the full costs of buying and selling a house. You can use an online calculator. You may have a larger budget if your house has risen in value – Dollis Hill selling prices are up 15% on 2023 according to Rightmove, for example. But remember that you won’t have the full value of your property to play with, as you must cover:

• Legal costs of both buying and selling
• Removal costs
• Estate agent fees as a seller
• Conveyancing fees
• Stamp duty

2.Instruct an Estate Agent

Find a good local estate agent to sell your home through recommendations and reviews. Ask about their experience in selling similar properties, the prices they can achieve, and how long it typically takes to find a buyer. With your agent on board, you can:

• Prepare your home for viewings
• Arrange marketing photos
• Check if you already have a valid Energy Performance Certificate (EPC) on gov.uk or obtain a new one

3.Get a Mortgage in Principle

To arrange a mortgage in principle, speak to a mortgage broker and find out what your existing mortgage provider can offer. You may be able to port your mortgage deal, or remortgage, but be aware of exit fees and early repayment fees.

4.Start House Hunting

Research the local property market through online portals like Zoopla and Rightmove and your local agents. In sought-after areas, it helps to know the market and check regularly for new listings.

5.Receive Offers on Your Current Property

Prepare your property for viewings and wait for an offer from a potential buyer. Once you accept an offer, you will be in a better position to make an offer on your next dream home.

6.Make an Offer on a New Property

Put in an offer on the property you want to buy, and preparing to negotiate as usual if the seller receives a higher offer. If you’re buying your home while selling, emphasise your positive traits, e.g. that you’ve already secured a buyer.

7.Instruct a Conveyancer

Get several quotes and read reviews to choose a conveyancer or conveyancing solicitor. Engage your conveyancing service early in the buying and selling process, so they can start their work on the legal side such as:

• Contract negotiations
• Carrying out searches to pick up on planned developments, local flood risks or boundary disputes
• Fielding enquiries from your buyer’s solicitor
• Communicating with the seller’s solicitor

8.Negotiate Timelines

With the help of your conveyancer, establish a timeline that works for each part of the chain. As a buyer and seller, this may take more negotiation to agree dates that everyone agrees on.

9.Arrange a Survey

Engage a surveyor as soon as possible to inspect the condition of the property you’re buying, to allow time to investigate any issues they find. Choose the right type of survey for your property based on its age and condition to avoid expensive oversights. Be sure to use an accredited provider from the Royal Institute of Chartered Surveyors (RICS).

10.Finalise Mortgage

Go through the final stages of your mortgage applications with your lender. Bear in mind that your mortgage in principle gives an good indication but doesn’t guarantee that your application will be successful.

11.Exchange Contracts

The exchange of contacts makes the sale legally bindings. It happens once every part of the chain is satisfied with the results of their survey and searches.

12.Organise Moving Logistics

Engage a moving company for completion day and prepare to take final readings of your utilities. Speak to your telephone and internet, gas, electricity and water suppliers to make arrangements for your move.

13.Complete the Sale & Purchase

On the agreed completion date transfer funds and transfer ownership. Your conveyancer will notify Land Registry of the new ownership, and arrange other payments.

14.Move In

Drop off the keys to your property, collect the keys to your new home and start making it your own!

If you are considering buying and selling a house at the same time in West Hampstead, Harlesden, Kilburn or Cricklewood, we can help. Contact Portland Estate Agents today to discuss your move.