Offer Accepted,but want to delay the process, please help.

chikoo77

I made an offer on a 2 bed flat, which has been accepted.

But i am not willing to move in untill october, as i have booked my holidays in september, and i would like to get that out of the way.

In what ways can i delay the process, and not make the vendor think that i am deliberately doing it (to avoid paying monthly mortgage before moving in). I would like to delay it as much as i can, even if i can get to move in november would be still better, as i have a contract with the people i am renting with untill end of october.

Will appreciate any suggestions. thanks.

chatta

Hope you never buy from me!!! Try pushing it through fast that normally guarantees to slow things down. It took 3 months from when we made offer on our house to moving in, but we had to pay out fees deposits etc

F_T_Buyer

Why don't you just say the truth? Just say your rental contract runs out at the end of Oct so you would look to move in that month. I'm sure the EA and Vendor would appriciate honesty.

Also, you still could exchange earlier with completion in Oct, if the vendors are worried about you messing them about.

robwend

hmmm holiday more important than the move?.... maybe you should retract your offer?, then look again closer to the time. if the sellers want to move and your stalling they may drop you anywayif you dont tell the truth, not worth making bad feelings at this early stage

lilyann1

I agree with all of the above.The average house purchase that goes through smoothly will take around 8-12 weeks,ie 3 months so it'll probably be October anyway.You have to be honest from the start or you could have problems in the chain at a later date.

Careful_girl

I would suggest that if you are serious about the flat that you go ahead. Things are certainly not always predictable and maybe It won't have happened by then anyway.The people who you are buying off may not have found somewhere and all sorts of things happen along the way. The main thing is is not to miss a property if you really want it. You may never find one as good when you look later. However honesty is also a good policy. It might give the vendors piece of mind to know they have a buyer and they can relax and take their time. Talk to the EA and ask some clever questions. Then decide the best course of action. Move and then relax on holiday or relax then have all the upheaval of the move?
Depends how special the property is.
Good luck and have a good move and holiday!!
CG:j

chikoo77

Thanks to all of you for your valuable suggestions.

The good thing in my case is there is no chain. The owner is just moving out with her parents to commence further studies.

The holiday is very important to me as i am going back to my country to marry my long time sweetheart, and i would ideally like to keep the house ready for her to come down and us to move in together in november, as she cant make it before that.

I am just worried even if i try being honest and if the vendor dont agree and wants to finish it quick (as he might need money for his studies), i will end up having mortgage payments earlier than expected, as i am not at all going to move in untill my wife comes down. Also he might push me to get the completion done just before i go on holiday in sept.

Is 8-12 weeks normal time untill i get the keys ? If the offer has been accepted this week, what is the approximate time i am looking at before everything gets sorted out ?

p.s i have offered the asking price (its my dream flat) as the vendor was quite stubborn with the price as the flat has been completely refitted and nothing needs to be done at all after moving in.Thus trying to save few quids here and there by taking my time and delay the mortgage payments, also making sure not to lose my deposit money for the rent.

silvercar

YOu've only just put the offer in now, then it will easily take 6 weeks to get to exchange stage. So already your near the end of August. It is reasonably normal to have completion 4 weeks after exchange so that's end of September.

Cantona_2

silvercar wrote:

YOu've only just put the offer in now, then it will easily take 6 weeks to get to exchange stage. So already your near the end of August. It is reasonably normal to have completion 4 weeks after exchange so that's end of September.

completion 4 weeks after exchange?

We exchanged yesterday and are completing today!

lilyann1

We were asked by the people at the top of the chain from the very start that they would like 4 weeks from exchange to completion,so if you want to delay it you can ask from the start so people know where they are.
If people want to buy a property and the sellers really want to sell,then things can be worked out amicably.it'll take time to get your mortgage offer sorted and the survey done and solicitors up and running.Some of our searches took 7 weeks to be returned by the local council so that was a delay!!!.

seven-day-weekend

We sold a flat last year with no chain at either end and it took eight weeks to complete - and that was with us and the buyers each wanting a rapid completion!

I'd just tell your sellers you won't be in a position to complete until the end of October. I for one would rather know my buyer was serious, even if the transaction took a bit longer and I would certainly have doubts about that if they kept trying to hold things up. They are not in a chain so there won't be any problem there.

Honesty is the best policy I would say.