When is it acceptable to put an offer in on a house?

[bancodegaia]

As the question says, when is it acceptable to put an offer in on a house?
The reason I'm asking is because I currently live in the first place I bought. I have put this place on the market and have been looking at properties that suit my new cirumstances ( partner living with me) and could do with knowing when it is proper to put an offer in on a house that I like.
At the moment, my situation is that I need to sell my flat before buying anything else. I have spoken with a mortgage advisor who has agreed a mortgage in principal for me with my preferred lender but as I have not received any firm offers yet should I wait until I have received one before putting an offer on elsewhere or hope that the owner of any new property I want is willing to wait a while longer?

[glenis]

find a buyer for your place first ,then start looking for a new place . you might even have to rent for a short while until you find somewhere you like, as you might jeopardize the sale on your place ,

[bill preston]

just an idea?

could you not take any equity out of your home at the moment and use that to place a deposit on a new house for you and your partner?

then rent out the property you have now to pay the mortgage? in the future you will have a nice nest egg to fall back on with this idea?

[someonesgirl]

i would go ahead and put your offer in anyway. The fact that youve got an agreement in principal stands you in good stead, and you can just explain your position when you ring up (ie: just waiting on a buyer for your place). The vendor might well be in a chain themselves and be in a position to wait anyway......If you like it, go for it.....

[mrpeter]

Large numbers of people put an offer in for the house they want to buy before they have sold their own.Nothing unusual in that. You do not want to lose out on the place you have seen to buy by waiting until your place is sold. However if you have sold and have the money and a place to live in in the meantime you are in a strong position when buying your next property as you have cash in hand. Good luck

[Beads]

I'd wait until you had a buyer/offer for your place first so you'll be a more attractive prospect to the person you're going to buy from.

[bancodegaia]

Thanks for all your answers, it has given me food for thought, if there is a place we instantly fall for then I know I can put an offer in without being laughed at.

[liamjford]

The only proble with this is the 'chain effect' some buyers will take a lower offer from someone chain free or with a fast moving chain. Plus you will then be pushed to find a seller for your house quickly and may be pushed to accept an offer lower than you would like as people will know you are in a rush to sell.

You also leave yourself open to 'gazundering' whereby people go ahead with buying your property and then at the last minute (days before the exchange of contract) reduce their offer considerably, hoping that you will be too set on your new property.

I'd wait until you have an offer. By all means get an idea of the market now, but remember that is what you are doing, just looking to get an idea - if places are still for sale when you have a buyer - great, if not just walk away from it.