Buyers Waiting for Their Property to Sell
I've found my next property but haven't sold my current one yet.
Additional flexibility while a buyer waits for another property transaction to conclude.
The Challenge
What This Scenario Looks Like
Timing mismatches between selling one property and buying the next can cause buyers to lose the property they want.
How an Instalment Sale Agreement May Help
An Instalment Sale Agreement can secure the intended property under agreed terms while the buyer's existing property sale is finalised, subject to affordability and legal review.
Potential Benefits
- Secures the intended property at an agreed price
- Provides time to conclude the existing sale
- Structured monthly payments in the interim
Things to Consider
- The buyer must be able to sustain the agreed instalments regardless of the timing of the other sale
- Bridging arrangements should be planned with a professional adviser
A Practical Example
A buyer secures the next family home under an Instalment Sale Agreement while marketing the existing property.
Frequently Asked Questions
What if my existing property does not sell?
The buyer remains bound by the Instalment Sale Agreement. Affordability must be considered independently of the other sale.
Next Step
Discuss Your Property Situation
Contact RentAssist to explore whether an Instalment Sale Agreement may be suitable for your specific circumstances. Each transaction is subject to legal, financial and commercial review.