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How long should i take

kawaton
kawaton Posts: 27 Forumite
Part of the Furniture 10 Posts Combo Breaker
edited 1 February 2010 at 9:20PM in House buying, renting & selling
Lo all

Sold our house 3 weeks ago, after being up for 11 months.
We found one house we liked, but we lost out to another offer.
Struggling to find anything else. we could rent (but would prefer not to)

How long would you feel is a reasonable amout of time to wait for your seller to buy?

Comments

  • kawaton wrote: »
    Lo all

    Sold our house 3 weeks ago, after being up for 11 months.
    We found one house we liked, but we lost out to another offer.
    Struggling to find anything else. we could rent (but would prefer not to)

    How long would you feel is a reasonable amout of time to wait for your seller to buy?

    Sorry, but it takes as long as it takes.

    You can't force your seller to sell .... can you?
    Warning ..... I'm a peri-menopausal axe-wielding maniac ;)
  • Fire_Fox
    Fire_Fox Posts: 26,026 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Do you mean you accepted an offer on your house three weeks ago or you exchanged contracts or you completed?? If your house is only under offer I would ask your buyer what sort of timescale they are hoping for, everyone has a different agenda! How willing are you to risk losing this buyer, and how unwilling are you to move into rented?
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  • Jue_xx
    Jue_xx Posts: 295 Forumite
    Part of the Furniture Photogenic Combo Breaker I've been Money Tipped!
    If its a first time buyer, they will not want to be kept waiting for too long. You need to find out their intentions asap. I would seriously consider moving into rented for a while, if it's your first offer in 11 months.
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  • Jue_xx wrote: »
    If its a first time buyer, they will not want to be kept waiting for too long. You need to find out their intentions asap. I would seriously consider moving into rented for a while, if it's your first offer in 11 months.

    I would normally agree except that a rental usually requires a minimum of a 6 month let and you may find a property you want to buy before the let expires.

    It's not easy. Other than moving in with friends/relatives where there is no minimum let, there is no "risk free" solution. Although renting is relatively low-risk, given the length of the "average" buying process!!
    Warning ..... I'm a peri-menopausal axe-wielding maniac ;)
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