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Sold the house but nowhere to go!

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Comments

  • Niv
    Niv Posts: 2,468 Forumite
    First Anniversary Name Dropper First Post
    I would seriously consider putting your stuff in storage and roughing it until you find somewhere. Any old place will do, the cheaper the better. In this climate loosing yout buyers may proove to be a real pain and the advantage you could have by being chain free is a welcome bonus.

    Or in short - I agree with Andys15
    YNWA

    Target: Mortgage free by 58.
  • Chinkle
    Chinkle Posts: 680 Forumite
    First Anniversary Combo Breaker First Post
    Don't loose your buyers - accommodate their wishes in terms of exchange/completion times. Store your things and if you can't stay with friends, then just go for the cheapest rental you can get. Not only will you be in the best position in terms of bargaining when you're dream house comes along, but with todays news that house prices are falling again hopefully you'll bag it at a cheaper price and will have actually gained from being off the property ladder for a while.
  • tootsmyboots
    tootsmyboots Posts: 198 Forumite
    We didnt want to lose our FTBs and we hadnt seen anywhere we even wanted to view. So I reluctantly agreed to rent for 6 months. I didnt fancy moving twice with a baby and a toddler, but I agreed to do it. In this time we were able to find a do-er upper, buy it and then get it finished while it was empty. It was hard work but we now how a house done up to our tastes.

    For our rental place we haggled on the rent and paid less than the advertised price. Being chain free put us in a reallyh good position for having our offer accepted and we could be flexible on completion as we didnt need to move straight out of one place and into another.

    FTBs are like gold dust so I would seriously look into renting. The alternatives are buying somewhere you dont like or risking losing your FTB. Talk to them and see what timescales they are hoping for.
  • Gwhiz
    Gwhiz Posts: 2,322 Forumite
    First Anniversary Combo Breaker
    You big jessy - calm down ;)

    Just rent a cheaper property (they can't ALL be more than your mortgage). Even if that's not the case, 6 months rent is not going to break you is it?

    Sop comparing rent v mortgage and think more along lines of "wow, great, sold the house. As a renter I'm in the best position when I find a property I like"

    As you were :D
  • Charliezoo
    Charliezoo Posts: 1,732 Forumite
    Gwhiz wrote: »
    You big jessy - calm down ;)

    Just rent a cheaper property (they can't ALL be more than your mortgage). Even if that's not the case, 6 months rent is not going to break you is it?

    Sop comparing rent v mortgage and think more along lines of "wow, great, sold the house. As a renter I'm in the best position when I find a property I like"

    As you were :D

    :D:D:D You're right, that's cheered me up!
  • lee636
    lee636 Posts: 460 Forumite
    Charlie, cant add to what everyone has said but being chain free on your next property can only be good for you!
  • gemima
    gemima Posts: 86 Forumite
    Hi,

    I have just seen your post and wanted to add that in this market DONT lose your buyers. We did 2.5 years ago as we were in the same position as you - couldn't find anywhere. We got really stressed about the whole situation and had 2 young children. I just couldn't move to rented but now we want to sell again (have found somewhere) and there are no buyers out there - in hindsight we should have sold up and rented but then who has a crystal ball?
    Even if it takes you a year to find your dream home at least you will be in a very enviable negotiating position.
    Best of luck.
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