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  • FIRST POST
    • nicos42
    • By nicos42 7th Oct 17, 5:15 PM
    • 25Posts
    • 3Thanks
    nicos42
    Vendor not found a house in two months and a dream house cheaper just came to market
    • #1
    • 7th Oct 17, 5:15 PM
    Vendor not found a house in two months and a dream house cheaper just came to market 7th Oct 17 at 5:15 PM
    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.
Page 2
    • gax23
    • By gax23 8th Oct 17, 7:45 AM
    • 203 Posts
    • 77 Thanks
    gax23
    Place yourself five years from now. Would you rather a) be sitting in house #2, your dream house, with all the previous issues long in the past or b) sitting in the first house, which is OK, but at least you didn’t pull out?
    • Mickygg
    • By Mickygg 8th Oct 17, 7:55 AM
    • 1,338 Posts
    • 1,055 Thanks
    Mickygg
    and progressing well, even as far as the survey.



    The first offer is just that nothing has even started, the acceptance is just a place holder for the vendor, if prices are moving up they could well reconsider if they think there is more to come.

    if you would no longer buy the first one if this new one fell through then pull out earlier.


    if the EA finds out and asks, you tell the truth, you could not wait for ever and were waiting to be sure there would be no issues with this new one you found before withdrawing.
    (don't mention you want the new one more).
    Originally posted by getmore4less
    This is one I disagree with. House buying as we all know is hard and unpredictable but to have 2 accepted offers going side by side for a period of time although can be done it's not one I would recommend especially where the OP obviously cares about not wanting to pee off people.
    • moneyistooshorttomention
    • By moneyistooshorttomention 8th Oct 17, 8:01 AM
    • 14,249 Posts
    • 38,592 Thanks
    moneyistooshorttomention
    Vendor of house 1 has had two months - so I would say you've given him a reasonable amount of time to find somewhere and he still hasnt.

    In those circumstances - I'd offer on the dream house.
    New Year's Resolution already made -

    Don't get mad....get firm ...
    • getmore4less
    • By getmore4less 8th Oct 17, 9:39 AM
    • 30,837 Posts
    • 18,445 Thanks
    getmore4less
    This is one I disagree with. House buying as we all know is hard and unpredictable but to have 2 accepted offers going side by side for a period of time although can be done it's not one I would recommend especially where the OP obviously cares about not wanting to pee off people.
    Originally posted by Mickygg

    They are not going to be going side by side for a period of time,

    The first offer is yet to have a proceedable acceptance.
    • NinaSwiss
    • By NinaSwiss 8th Oct 17, 10:29 AM
    • 204 Posts
    • 111 Thanks
    NinaSwiss
    OP, if I were you I'd offer on the second house and wait till the survey is completed (with no red flags) before withdrawing offer on the first property.

    It sounds like you were not planning to proceed on the first property till the vendor notifies you that they have found a place to buy. So I doubt that the timing of your withdrawal will make much of a difference when vendor hasen't even found a place.
    Working towards:
    *House Purchase (2015)
    *Top-up pension (2016) *Clear CC (2016)
    *Mortgage
    Overpayment (50% LTV by Jan 2020) *Clear student Loan(by Jan 2020)*Save for a Car (2017)!
    *Making the most of life!!!
    • HouseBuyer77
    • By HouseBuyer77 8th Oct 17, 11:01 AM
    • 909 Posts
    • 893 Thanks
    HouseBuyer77
    It sounds like you were not planning to proceed on the first property till the vendor notifies you that they have found a place to buy. So I doubt that the timing of your withdrawal will make much of a difference when vendor hasen't even found a place.
    So what should they do if the first vendor finds a place (and has an offer accepted) after they've had an offer accepted on the second place but is still awaiting a survey? I don't think it's right to not disclose the second offer at this point as the first vendor may be busy arranging their own survey etc on the basis that the chain is complete.

    I don't see any issue in looking at offering on other properties but once you've had a firm acceptance on the second house (and they've stopped advertised etc) at the very least you need to disclose that you're pursuing a second offer to the first vendor.
    • nicos42
    • By nicos42 8th Oct 17, 1:42 PM
    • 25 Posts
    • 3 Thanks
    nicos42
    I got a clearer picture as a first time buyer thank you all.
    I went for a walk this morning to see how long it takes from town centre to house 2.
    I spotted an alleyway full of dumped rubish like matresses, old rags and bags. The alley way runs at the back of the garden of house 2. So now i m worried about bad neighbourhood.

    The EA also told me that is no problem to find parking but going for a walk this morning there was nowhere to park a tiny car on the street. Cars parked on both sides which worries me too.

    But House 2 is in Surrey 40 minutes to london, house 1 is in Hampshire 80 min to London and is 10 minute from work, 15 walk to my gym, cinema in a gorgeous small town.

    House 1 has parking, is massive and has en suite, and toilet downstairs and an extra bedroom. Two parking spaces but very remote like 5 miles out of town.

    I m literally torn apart size over location, parking versus no parking, potentially uncarrying neighbours who dont mind having dumped rubish at the back of the garden versus a salubrious end terrace very nicely maintained nee house.

    I wish the first vendor was motivated it. But i domt think he is. He s only moving the other side of the same town so is bo rush for him at all. And what upsets me is that when i put the offer on the EA told me he alreasy had places on the book.

    Is toughest decision ever.
    • nicos42
    • By nicos42 8th Oct 17, 1:44 PM
    • 25 Posts
    • 3 Thanks
    nicos42
    *sorry for typos is my phone going mad
    • iammumtoone
    • By iammumtoone 8th Oct 17, 1:57 PM
    • 5,364 Posts
    • 11,021 Thanks
    iammumtoone
    house 1 only 10 minutes from your work, How far away is house 2 from work.

    How long would the commute be every day compared to what you do now? or would you be looking for work closer.

    How important is it to you to be close to London? How often do you need to be in London? Is this work or social? if social will you be able to go so often once you have a house to maintain/pay for?
    • Smodlet
    • By Smodlet 8th Oct 17, 2:09 PM
    • 2,324 Posts
    • 4,802 Thanks
    Smodlet
    Dude, seriously. All's fair in love, war and house-buying at least, in England and Wales. You could, in theory, have seventeen offers in at the same time all on houses in the same street and just wait to see who was ready to complete first. I would not recommend it in any street where the neighbours still actually talk to each other but it would not be illegal.

    Take this from one who knows, please. When it comes to house-buying, no-one (but no-one) is looking out for you except you. Do you really think the vendor of House 1, House 2 or House(s) yet to be viewed will be acting in anyone's interests but their own? If they accept your offer then get a better one, do you think they will refuse it? Please, wake up!

    Why do you care about the feelings of someone whose house you want to buy? Are they a personal friend? No? All they want is your money; they don't give a rat's rear-end about your feelings or how much money you waste getting surveys/legal stuff done only for them to sell to someone else. Until you and they have exchanged, you do not have a leg to stand on.

    If you are concerned about areas then the evidence of your own eyes will never be bettered but, if you want a broader view, there are various "crime maps" available. Personally, I always use the police.uk one as it shows whether anything was actually done about a reported crime. HTH and good luck... If you wise up.
    What is this life if, sweet wordsmith, we have no time to take the pith?
    Every stew starts with the first onion.
    I took it upon myself to investigate a trifle; it had custard, jelly, soggy sponge things...
    • Debtslayer
    • By Debtslayer 8th Oct 17, 2:14 PM
    • 435 Posts
    • 616 Thanks
    Debtslayer
    I would always choose better area over size of house, there's no way I could live in a big house in a bad area. I want to be able to feel safe an comfortable around the neighbourhood
    Current Mortgage 01.10.17 £113,513.88
    MFW Start Mortgage: £114,794.64
    Current MED: 2036 Target MED: 2026
    Overpayment Target for remainder of 2017: £2,000
    Mortgage overpayment savings: £684.80
    MFW No 124
    • NinaSwiss
    • By NinaSwiss 8th Oct 17, 2:23 PM
    • 204 Posts
    • 111 Thanks
    NinaSwiss
    Dude, seriously. All's fair in love, war and house-buying at least, in England and Wales. You could, in theory, have seventeen offers in at the same time all on houses in the same street and just wait to see who was ready to complete first. I would not recommend it in any street where the neighbours still actually talk to each other but it would not be illegal.

    Take this from one who knows, please. When it comes to house-buying, no-one (but no-one) is looking out for you except you. Do you really think the vendor of House 1, House 2 or House(s) yet to be viewed will be acting in anyone's interests but their own? If they accept your offer then get a better one, do you think they will refuse it? Please, wake up!

    Why do you care about the feelings of someone whose house you want to buy? Are they a personal friend? No? All they want is your money; they don't give a rat's rear-end about your feelings or how much money you waste getting surveys/legal stuff done only for them to sell to someone else. Until you and they have exchanged, you do not have a leg to stand on.

    If you are concerned about areas then the evidence of your own eyes will never be bettered but, if you want a broader view, there are various "crime maps" available. Personally, I always use the police.uk one as it shows whether anything was actually done about a reported crime. HTH and good luck... If you wise up.
    Originally posted by Smodlet
    I totally agree with this having been through the dog-eat-dog process to realise everyone in it is ultimately looking after number one.
    Working towards:
    *House Purchase (2015)
    *Top-up pension (2016) *Clear CC (2016)
    *Mortgage
    Overpayment (50% LTV by Jan 2020) *Clear student Loan(by Jan 2020)*Save for a Car (2017)!
    *Making the most of life!!!
    • NinaSwiss
    • By NinaSwiss 8th Oct 17, 2:34 PM
    • 204 Posts
    • 111 Thanks
    NinaSwiss
    So what should they do if the first vendor finds a place (and has an offer accepted) after they've had an offer accepted on the second place but is still awaiting a survey? I don't think it's right to not disclose the second offer at this point as the first vendor may be busy arranging their own survey etc on the basis that the chain is complete.

    I don't see any issue in looking at offering on other properties but once you've had a firm acceptance on the second house (and they've stopped advertised etc) at the very least you need to disclose that you're pursuing a second offer to the first vendor.
    Originally posted by HouseBuyer77
    In the OP's position I would still do as I highlighted. On the very slim chance of the vendor getting/accepting an offer whilst I await a survey then I might (might) inform vendor I no longer wish to proceed. That should not stop them accepting an offer on their house whilst they find someone else. There isnt much to re-advertising a property. It happens all the time as alot of purchases fall through. Perfectly normal in the housing market.
    Last edited by NinaSwiss; 08-10-2017 at 2:39 PM.
    Working towards:
    *House Purchase (2015)
    *Top-up pension (2016) *Clear CC (2016)
    *Mortgage
    Overpayment (50% LTV by Jan 2020) *Clear student Loan(by Jan 2020)*Save for a Car (2017)!
    *Making the most of life!!!
    • Smodlet
    • By Smodlet 8th Oct 17, 3:09 PM
    • 2,324 Posts
    • 4,802 Thanks
    Smodlet
    There isnt much to re-advertising a property. It happens all the time as alot of purchases fall through. Perfectly normal in the housing market.
    Originally posted by NinaSwiss
    I seem to recall 40% of sales fall through, from an ep of whichever Phil/Kirstie prog but don't quote me; it may be higher.
    What is this life if, sweet wordsmith, we have no time to take the pith?
    Every stew starts with the first onion.
    I took it upon myself to investigate a trifle; it had custard, jelly, soggy sponge things...
    • glasgowdan
    • By glasgowdan 8th Oct 17, 5:01 PM
    • 2,642 Posts
    • 2,951 Thanks
    glasgowdan
    So why exactly do you think house 2 is better if it's smaller and further from work?
    • Tarambor
    • By Tarambor 8th Oct 17, 5:18 PM
    • 1,761 Posts
    • 1,206 Thanks
    Tarambor
    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
    Originally posted by nicos42
    Would you feel guilty if you went into Tesco to buy a Pizza then found one you liked more in Asda and bought that instead? No.

    Other than the monetary amount involved it is literally nothing more than that decision. The vendor quite clearly doesn't feel any guilt about keeping you hanging around until they decide they've finally found a house they'd like which could be months or years.
    • getmore4less
    • By getmore4less 8th Oct 17, 5:39 PM
    • 30,837 Posts
    • 18,445 Thanks
    getmore4less
    these can't be the only 2 houses available.

    Also seem a long way from each other don't you have a focused search area?

    Neither is sounding ideal.

    I think you may need to understand your own priorities much better.
    • nicos42
    • By nicos42 8th Oct 17, 8:27 PM
    • 25 Posts
    • 3 Thanks
    nicos42
    Why i think house 2 is beter than 1st one?
    Because is in a town I love, is very close to work like 10 minutes, my gym, my doctors and all friends are nearby.

    House 1 is much further because of my budget was not high enough to buy in the town i love and because i want a house not a flat i had to extend my search. Neigbourhood is very clean, afluent but families, nothing around and the town is 6-7 miles away.

    It just happened that by chance i got an email from rightmove and house 2 was advertised. And is in the town i love and is 20k plus cheaper than house one and vendor wants a quick sell because of buying with partner a bigger place and he moved in with her.
    He did the house up to high standard, is a quirky victorian terrace and yes i do need to add a downstairs toilet and customise it a bit. Because is close to town centre is street parking and very busy and at the back on a right of way alley some people has dumped rubish like matresses etc...
    But i always wanted to live near to this town's centre and only gave up looking because i couldnt find anything but one bedroom flats for my budget.

    I agree i have to look after my own interest and I now think after reading all the great advice is to wait and see if vendor 2 is accepting my offer and he is actualy progressing with the sell.
    I visited the street near house 2 a few times and us quiet and safe. I ordered myself a property report from zoopla and looked on police website and is a good neighborhood. Yeah couple of neighbours are not very house proud living with dumped matresses at the back of the garden and parking would be stresful. But i can clean up the alley way myself. I just had a very good vibe as soon as i entered house 2. I could see myself living there.
    I did not had this feeling at all about house 1 it is just a stepping stone to get on the ladder but i cant see myself living there for years and years.

    Vendor 1 in did has had his time and i know what area he wants to move to and he only wants one area. Not many houses for sell there. Only 2.
    So i think if i get the offer accepted on house 2 i ll give vendor and EA a call and tell them i m looking at options.

    My only major concern with house 2 is the on street parking but vendor says they never had issues finding a parking space not always in front of house but on the road.
    • Thrugelmir
    • By Thrugelmir 8th Oct 17, 8:49 PM
    • 56,255 Posts
    • 49,621 Thanks
    Thrugelmir
    I wish the first vendor was motivated it.
    Originally posted by nicos42
    Proprty isn't like buying a car. Houses don't suddenly materialise. Until some sells then there's nothing to buy. The seller of the property up the chain may well need to buy. Therefore your wait is far from over.
    “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”
    ― Warren Buffett
    • MSE Andrea
    • By MSE Andrea 10th Oct 17, 1:59 PM
    • 8,838 Posts
    • 21,147 Thanks
    MSE Andrea
    Hey nicos42

    Have you seen the House Buying guide yet?

    We have a lot of tips in there that should help you.

    Andrea
    Could you do with a Money Makeover?


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