What are the pros and cons of buying before selling, selling before buying, or simultaneous settlement?

This is quite a big question and would require a rather involved discussion. It would be best to get in touch with a broker to work through the options and the pros and cons.

Buying Before Selling Buying before selling has its advantages and disadvantages. On the one hand, it can be a great way to secure a property you really want before it gets snapped up by someone else. It also gives you more time to find the right buyer for your current property, and to make sure you get the best price possible. On the other hand, it can be risky. You’ll need to take out a bridging loan to cover the cost of the new property until you’ve sold your current home. This means you’ll be paying interest on two mortgages, which can be expensive. You’ll also need to have enough cash saved up to cover the costs of the bridging loan, as well as any legal fees associated with the sale and purchase of both properties. Selling Before Buying Selling before buying has its own set of pros and cons. On the plus side, you’ll have the cash from the sale of your current property to put towards the purchase of your new home. This means you won’t have to take out a bridging loan, and you’ll only have one mortgage to pay off. On the downside, you’ll need to find somewhere to live while you’re waiting for your current property to sell. This could mean renting or staying with family or friends, both of which can be expensive and inconvenient. You’ll also need to be prepared to move quickly once you’ve found a buyer, as you won’t want to miss out on the perfect property for you. Simultaneous Settlement Simultaneous settlement is the process of selling and buying a property at the same time. It can be a great way to avoid the additional costs and inconvenience of taking out a bridging loan or renting while you’re waiting for your current property to sell. However, it can be risky. If either party is unable to settle on the settlement date, it can cause delays and could potentially put the whole process in jeopardy. It’s important to make sure you have a good lawyer and conveyancer to ensure everything runs smoothly, and that all parties involved are able to settle on the agreed date.