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Vendor not found a house in two months and a dream house cheaper just came to market

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nicos42
nicos42 Posts: 63 Forumite
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in House buying, renting & selling
Hi when i put my offer on as a first time buyer i was told that vendor has a place he likes. That was nearly two months ago but i did tell EA i would like to be in by Christmas.
Problem is now that a house cane to market for considerably less money and in a much much more desirable location and very close to the office.
I went to see it and EA told me that the vendor would assure me that i would be in for Christmas if i put an offer on.
I feel very bad about it but the house i put the first offer the vendor is unlikely to find something this side of Christmas after speaking with EA.

Can i withdraw my offer? And be honest aboit finding a cheaper home closer to the office?
I m not sure what to do but if i don't offer on the cgeap house Monday morning it will fly.
«1345

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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    If you haven't exchanged, then yes, you can pull out.
  • nicos42
    nicos42 Posts: 63 Forumite
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    Either me or vendor have not spent money. Two months later he has not seen any houses he liked and regretfully i found a perfect cheaper house. I do feel very bad about it
  • nicos42
    nicos42 Posts: 63 Forumite
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    I was waiting for him to put an offer on before paying surveys and solicitors but EA tells me he nowhere near finding a place. And the more i wait interest rates go up etc
  • Marvel1
    Marvel1 Posts: 7,172 Forumite
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    Go for the new one, seems to tick all your boxes.
  • nicos42
    nicos42 Posts: 63 Forumite
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    Thanks cj for advice
  • glasgowdan
    glasgowdan Posts: 2,967 Forumite
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    Wait and see if you have an offer accepted on the new one first...you may find others want it too.
  • eddddy
    eddddy Posts: 16,483 Forumite
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    Go ahead and offer on the new house, but...
    nicos42 wrote: »
    I went to see it and EA told me that the vendor would assure me that i would be in for Christmas if i put an offer on.

    ... take this with a HUGE pinch of salt.

    Is the seller living in the property, or is it vacant?

    Ask lots of questions like - is the seller linking the sale with a purchase?

    If so, what is the status of the purchase? (i.e. Has the seller found somewhere, has he/she got a mortgage arranged etc).


    And try not to 'burn your bridges' with the current EA and seller. If the new place doesn't work out - you might want to go back to first one.
  • Mickygg
    Mickygg Posts: 1,737 Forumite
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    You can't just sit and wait months for the seller to find a property if you've seen something else. Put an offer in on the other and if it's accepted tell the agent of the other the sellers have taken too long. Nothing to feel bad about.
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
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    Vendor 1 had his chance.
    You have to go with what's best for you.
    Go for house 2 and don't look back, you've done nothing wrong. Vendor 1 should have pulled his finger out....
  • VintageHistorian
    VintageHistorian Posts: 895 Forumite
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    I would also take the "you'll be in by Christmas" thing from the estate agent with an enormous pinch of salt. Average time to completion is 12 weeks, and as Christmas gets closer everything will get more hectic as everyone else your solicitor and estate agent are dealing with will also want to be in by Christmas.

    So ignore that bit and focus on the other things you like about the house. Cheaper, closer to work, and you really like it. So buy it. But if you get to be in before 25 December then consider it to be a bonus, I wouldn't recommend setting your heart on it or throwing your toys out the pram when it doesn't come to pass.
    "You won't bloom until you're planted" - Graffiti spotted in Newcastle.

    Always try to be nice, but never fail to be kind - Doctor Who

    Total overpayments in 2021 - £901.28!
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