Selling and buying - confusing advice

[pennywise]

Thanks to everyone who shared their experience. One further question: if the bank needs the new property valuation to approve mortgage transfer application (we are going down the route of tracker mover with PTSB), how can they do that if we can't make an offer on a house before we have at least sale agreed on our own property? This is the most confusing part of the problem for me

 

[Leo]

how can they do that if we can't make an offer on a house before we have at least sale agreed on our own property?

That is the timing challenge. While there might be more flexibility around houses that aren't attracting much interest, for properties the agents expect to move quickly, you will need to be sale agreed on your own house before you can make an offer.

Depending on availability of property that meets your needs, you put your own on the market and go sale-agreed, then make an offer or offers on properties that meet your needs. If you are the successful bidder on one of those and want to proceed, you then request the bank to carry out the valuation as part of the groundwork for the mortgage draw-down.