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House sale completed but no dates on purchase yet!!
Sweetcaz_2
Posts: 113 Forumite
Hi everyone,
I just wanted other peoples experiences/words of encouragement on my situation.
I agreed an offer on my house at the beginning of July and that same day had an offer accepted on a new house to move to. It all seemed straight forward :rotfl:in that my buyer was a cash buyer (BTL) and the house we were buying were relocating closer to relatives and planned to go into rented as they had not found anything to buy.
However, 3 weeks ago my seller ageed to buy a property where there are 2 others in the forward chain with an empty property at the top of it all. Off course 8 weeks have gone and my cash buyer twice threated to pull out if we did not exchange and complete within a week and the second time I was not willing to call his bluff so exchange has now taken place with completion next week.
Meanwhile on the purchase side I have spoken to the sellers EA/soliictor and have been told they are not going to be ready to exhange for at least another 4 weeks as they want to tie it up with their purchase. This leaves me and my new husband homeless as of next friday with no exchange of contract on the house we are trying to buy in sight. :eek:
We have arranged to temporarily stay with my husbands parents, not ideal as we have a dog and cat and his mum is very house proud!
My question really is has anyone been in this situation or known someone who has? I am so worried the chain further up will collapse and we will have to start all over again and live like this for some months.
Any words ot wisdom or reassurance out there? I am so unhappy right now
I just wanted other peoples experiences/words of encouragement on my situation.
I agreed an offer on my house at the beginning of July and that same day had an offer accepted on a new house to move to. It all seemed straight forward :rotfl:in that my buyer was a cash buyer (BTL) and the house we were buying were relocating closer to relatives and planned to go into rented as they had not found anything to buy.
However, 3 weeks ago my seller ageed to buy a property where there are 2 others in the forward chain with an empty property at the top of it all. Off course 8 weeks have gone and my cash buyer twice threated to pull out if we did not exchange and complete within a week and the second time I was not willing to call his bluff so exchange has now taken place with completion next week.
Meanwhile on the purchase side I have spoken to the sellers EA/soliictor and have been told they are not going to be ready to exhange for at least another 4 weeks as they want to tie it up with their purchase. This leaves me and my new husband homeless as of next friday with no exchange of contract on the house we are trying to buy in sight. :eek:
We have arranged to temporarily stay with my husbands parents, not ideal as we have a dog and cat and his mum is very house proud!
My question really is has anyone been in this situation or known someone who has? I am so worried the chain further up will collapse and we will have to start all over again and live like this for some months.
Any words ot wisdom or reassurance out there? I am so unhappy right now
Offer accepted - 4th July 
Own sale completed - 5th September
Finally exchanged - 30th October :j:T:j
Completing on Friday 13th! :rotfl:
Own sale completed - 5th SeptemberFinally exchanged - 30th October :j:T:j
Completing on Friday 13th! :rotfl:
0
Comments
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Being you have already committed yourself to moving twice, there is little you can do but keep your fingers crossed that it will all proceed.
We have faced similar decisions to you in the past and refused to exchange on our sale without exchanging on our purchase at the same time. In one case this did result in us losing our buyer, but it was a risk we were prepared to take as being homeless was too big a risk for us.
At some point you may decide to take a 6 month rental and start your buying search again.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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