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    • traybonoaholly
    • By traybonoaholly 2nd Oct 17, 2:18 PM
    • 20Posts
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    traybonoaholly
    How long is an acceptable time to find a new home
    • #1
    • 2nd Oct 17, 2:18 PM
    How long is an acceptable time to find a new home 2nd Oct 17 at 2:18 PM
    Hi there,
    My house sold STC 17 days ago and was taken off the open market. I wanted to ask how long others who have sold and also bought houses. How long is an acceptable length of time to expect the next person in the chain to find their new home.
    My buyer has sold theirs and every single day they are the phone wanting to know exactly what I'm doing. I do understand that they have pressure behind them so I totally empathise there.
    I am actively looking at houses everyday, I'm on rightmove all the time, I see as many houses as I can where they can fit me in.
    But it's beginning to grate on me abit the constant phonecall's. I have taken all my paperwork in to the solicitors as I don't intend to pull out but I do need to find the right property to be able to move, I'm not just going to move in to any old thing or something I don't want to so the sale goes ahead.
    Ive told my estate agent over and over again my position and I have also told them that they will be the absolute first to know if I find a property I want to buy or an offer I make is accepted on a property so they can let the buyer know. Everytime they know I've viewed a house they want to know if I'm buying it and if I'm not why not.
    I've found my estate agents getting quite ratty with me and saying well what will you do if you havnt found something in the next two weeks, will you rent blah blah because the buser is putting pressure on them, but im the one paying their fee not the buyer and they should be representing me. Again I've already told them I will not rent and that the sale is dependant on me finding another property to buy. From my perspective if I havnt found another property in two weeks my buyer needs to decide if they are willing to wait or not, if they are not then they shold withdraw as i cannoy try any harder here. I can't exactly say when I'm going to have found my next home, it's a case of how long is a piece of string.
    I don't know what else I can do. I've been completely honest from the start with the EA and solicitor, ive told them my situation and if the agent is putting this across I don't know what more I can do here.
    So anyway how long is an acceptable time to find a house, surely my buyer should wait until the chain has formed??.
    Last edited by traybonoaholly; 02-10-2017 at 2:24 PM.
Page 1
    • indianabones
    • By indianabones 2nd Oct 17, 2:30 PM
    • 184 Posts
    • 193 Thanks
    indianabones
    • #2
    • 2nd Oct 17, 2:30 PM
    • #2
    • 2nd Oct 17, 2:30 PM
    Really does depend on the buyer. I would have been prepared to wait about 6-9 months depending on the length of the chain. I wouldn't have gone for a chain bigger than 3 parties anyway. But finding the right home takes time. If you can't find one in the time they want you to, maybe it's just one of those situations you'll have to accept and move on to another buyer.

    Never rush buying a home, you can find other buyers usuall quickly, you can't buy a new house quickly if you get it wrong.
    • CP26
    • By CP26 2nd Oct 17, 2:38 PM
    • 134 Posts
    • 91 Thanks
    CP26
    • #3
    • 2nd Oct 17, 2:38 PM
    • #3
    • 2nd Oct 17, 2:38 PM
    We have just had the agent round today to put us on the market. However, we have nowhere to go yet.

    It's so chicken and egg...to be considered proceedable we have to have sold our home but because we are looking for something quite particular we think it might take some time for the right property to come up, which may well frustrate a buyer.

    We are lucky in that our property might have some good interest so there is a strong chance that if we lost a buyer, another may come along quickly. We can also be flexible on our price to attract another buyer if needs be.

    However none of that helps us find a new place. We have been told to be honest with our buyers and they are pretty much going to have to put up with it or move on unfortunately. We will also be advising them not to start on any paperwork, searches etc until the chain is complete as (although its their choice) we'd rather they didnt get excited and start spending money straight away.

    We are being proactive but we will be spending a lot of money on our next home and we intend to live there for a long time so it has to be right for us. Although we have outgrown our current house it is lovely so we would stay if we can't find anything and make do so we won't be renting just to suit our buyers either.

    Your buyer needs to settle down and be patient - afterall you have been honest and you are trying. If they arent happy then they will need to move on and you'll have to find a new buyer.

    All you can do is be firm but realistic with them I think.
    • traybonoaholly
    • By traybonoaholly 2nd Oct 17, 2:39 PM
    • 20 Posts
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    traybonoaholly
    • #4
    • 2nd Oct 17, 2:39 PM
    • #4
    • 2nd Oct 17, 2:39 PM
    Thankyou so much for you reply. Your reply really sums up how I feel. But I think they are putting on alot of pressure considering its only been just over two weeks. I don't want to keep them waiting at all but I can't just buy anything so they can have my house. They knew they are in a chain and that then I am too. Just wasn't sure if I was being unreasonable by wanting to take some time as I want the right house not just a house. Thanks
    • traybonoaholly
    • By traybonoaholly 2nd Oct 17, 2:44 PM
    • 20 Posts
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    traybonoaholly
    • #5
    • 2nd Oct 17, 2:44 PM
    • #5
    • 2nd Oct 17, 2:44 PM
    Thankyou CP26, we were exactly the same.we put our house on the market, we didn't put offers on anything as ours hadn't sold and we didn't know if it would at that point and didn't want to hold up a chain that way. There was a property we liked which has since sold prior to us selling, but without selling we went in a strong position to hold a property. I think my buyers are being really unreasonable now. X
    • CP26
    • By CP26 2nd Oct 17, 2:51 PM
    • 134 Posts
    • 91 Thanks
    CP26
    • #6
    • 2nd Oct 17, 2:51 PM
    • #6
    • 2nd Oct 17, 2:51 PM
    We have a generous budget and a big search area so you'd think we would have lots of choice. However OH is after something quite particular when it comes to setting (quiet, not too built up, maybe views of some green space) and that means many properties get ruled out. The ones that have made it to viewing have then been axed for other reasons...some I agree with him on, others I am getting frustrated by as I seem easier to please than he is.

    Still it is a lot of money to spens so it has to be right for both of us.

    Hang in there. If your buyers keep pushing you may just have to tell them where to go and get yours back on the market...even the threat of that might make them give you some space for a bit.
    • Quizzical Squirrel
    • By Quizzical Squirrel 2nd Oct 17, 3:22 PM
    • 110 Posts
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    Quizzical Squirrel
    • #7
    • 2nd Oct 17, 3:22 PM
    • #7
    • 2nd Oct 17, 3:22 PM
    I think you should seriously consider renting.

    Not to suit your buyer but to better find something to suit yourself.
    Then when you do find that house, in your own time, you'll also be a more attractive buyer with potentially a more powerful negotiating position.
    • Surrey_EA
    • By Surrey_EA 2nd Oct 17, 3:28 PM
    • 1,154 Posts
    • 1,350 Thanks
    Surrey_EA
    • #8
    • 2nd Oct 17, 3:28 PM
    • #8
    • 2nd Oct 17, 3:28 PM
    The answer to your question will depend on a number of factors.
    • How easy was it to find a buyer for your propety?
    • How attractive is the price you are being offered?
    • How keen are you to make a move?
    • How realistic are your requirements for the next property?

    Some buyers will wait many months, if they are really keen on the property they have offered on. Others may only wait a few weeks, if similar alternative properties are available.

    How did the buyer get hold of your phone number?
    • traybonoaholly
    • By traybonoaholly 2nd Oct 17, 3:48 PM
    • 20 Posts
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    traybonoaholly
    • #9
    • 2nd Oct 17, 3:48 PM
    • #9
    • 2nd Oct 17, 3:48 PM
    Sorry I responded to both the last two posts. It's not showing so I'm assuming it may have gone to inbox, if it has I'm sorry,I've not quite figured out how to use this forum properly yet, sorry
    • societys child
    • By societys child 2nd Oct 17, 3:53 PM
    • 4,662 Posts
    • 5,033 Thanks
    societys child
    How long is an acceptable time to find a new home
    On the other hand, perhaps the question should be:
    How long is an acceptable time to expect my buyers to wait?

    • traybonoaholly
    • By traybonoaholly 2nd Oct 17, 6:54 PM
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    traybonoaholly
    yes but that is just the same question just reworded, but that is basically what i am asking. how long should i expect a buyer to wait. one week after the house came off the market it was call after call after call. not even 7 days had passed. im good but not that good
    • OnePost
    • By OnePost 2nd Oct 17, 9:56 PM
    • 6 Posts
    • 3 Thanks
    OnePost
    Go and rent

    I am one of those "unreasonable" buyers who has been waiting ages for the seller to move.

    Either you are ready to sell or you arent. You cant have your cake and eat it. You have no idea what time constraints they may be under.

    Some buyers have had to renew 6 month minimum rentals because of sellers prancing about.
    • Red-Squirrel
    • By Red-Squirrel 2nd Oct 17, 10:14 PM
    • 1,738 Posts
    • 4,692 Thanks
    Red-Squirrel
    yes but that is just the same question just reworded, but that is basically what i am asking. how long should i expect a buyer to wait. one week after the house came off the market it was call after call after call. not even 7 days had passed. im good but not that good
    Originally posted by traybonoaholly
    As long as you are honest with them its entirely up to them how long they are willing to wait. If you've told them you are actively looking and very serious about wanting to move but that you won't rush into buying the wrong house and you won't go into rented, then they have all the info they need to make an informed decision about what they want to do.

    I hope you haven't given them your personal phone number though, I wouldn't have done that!
    • Red-Squirrel
    • By Red-Squirrel 2nd Oct 17, 10:16 PM
    • 1,738 Posts
    • 4,692 Thanks
    Red-Squirrel
    Some buyers have had to renew 6 month minimum rentals because of sellers prancing about.
    Originally posted by OnePost
    No they haven't, they can go periodic, but whatever they do its their own choice unless the seller is actually lying to them.

    Why would the buyer's desire not to live in rented accommodation trump the seller's desire not to live in rented accommodation?

    Assume you mean something other than prance, as prancing, while not helpful to the buying process, wouldn't hinder it either.
    • Thrugelmir
    • By Thrugelmir 2nd Oct 17, 10:59 PM
    • 55,532 Posts
    • 48,880 Thanks
    Thrugelmir
    My buyer has sold theirs and every single day they are the phone wanting to know exactly what I'm doing.
    Originally posted by traybonoaholly
    How did they get your phone number?
    "Wide diversification is only required when investors do not understand what they are doing." - Warren Buffett
    • glasgowdan
    • By glasgowdan 2nd Oct 17, 11:15 PM
    • 2,525 Posts
    • 2,821 Thanks
    glasgowdan
    Just rent... it gives you such freedom to buy.
    • HouseBuyer77
    • By HouseBuyer77 3rd Oct 17, 7:33 AM
    • 891 Posts
    • 852 Thanks
    HouseBuyer77
    Either you are ready to sell or you arent. You cant have your cake and eat it. You have no idea what time constraints they may be under.
    The nature of housing chains mean many people aren't ready to sell. If your onward purchase depends upon the sale you're unlikely to get to an offer accepted until you have an offer accepted on your own house. Hence it's hard to start a proper search for a new house until you have a firm offer.

    If as a buyer you are under a time constraint find a chain free house or accept the risk of that things may take longer than you like.

    My house sold STC 17 days ago and was taken off the open market
    17 days is hardly a long time, sounds like you have a very impatient buyer and a bad EA. Provided you're up front and communicate what's going on don't feel rushed into buying a property you don't really want.
    • traybonoaholly
    • By traybonoaholly 3rd Oct 17, 8:20 AM
    • 20 Posts
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    traybonoaholly
    i dont want mu cake and eat it. i want to sell and expect to be given a reasonable amount of time to find a house. my buyers sold and tgeir buyer had to wait for them to find my house, why us my situation any different to theirs?
    my buyer knew when they put an offer on my house that i hadnt yet found a property, i have told them everytime my estate agent phones my situation and been completly honest.
    this is my scenario i am looking for somewhere new to live. they know it may take a little time. they know already im not going to rent. rentung in my area means costing me a minimum of £200 per calender month compared to my mortgage, then a hefty bond and then i woukd also be tied in to a rental for 6 months that i may not need. if i find a house within say 1 month of being in a rental im then obliged to that rental for another 5 months or loose money.
    so from where im stood. ive told my buyer my situation, again and again. it is not going to change. if i find my house tomorrow great, if it takes a month it takes a month. it wont change. my sale is dependant on me finding my new home and porting my mortgage across. i do t have another option.
    if my buyer isnt ok with this they should retract their offer and move on. this happens when their is a chain going, it is inevitable.
    • traybonoaholly
    • By traybonoaholly 3rd Oct 17, 8:22 AM
    • 20 Posts
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    traybonoaholly
    also onepost my seller hasnt been waiting ages, this is my point. they are phoning my estate agent every day who are then calljng me as they keep demanding this and that but they only put their offer in two weeks ago just over. hardly ages now. im actively looking everyday but they are taking the !!!!
    • traybonoaholly
    • By traybonoaholly 3rd Oct 17, 8:26 AM
    • 20 Posts
    • 0 Thanks
    traybonoaholly
    they dont have my personal number they are ringing my agent everyday day, whos then calling me and getting shirty with me despite it only being two weeks. like ive already said they no im not renting and my sale is dependant on my finding another house but they just aint bothered. if i dont fond one i wont move its that simple. them moaning everyday after a whole two weeks is stressing me out. if they cant wait they should pull out and find another house. we are all in a chain im just near the end but their buyer had to wait for thrm now they have to wait for me
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