waiting for chain to complete - two months so far

pelethecat

I am a FTB at the bottom of a chain - but the person at the top of the chain is taking a very long time to find somewhere to move to. My EA says that she is an older lady who is looking for something quite specific - well it's been two months and she hasn't made any offers. There are two properties in between me and her (the people we're buying from, the people they're buying from, then her). Basically it seems that the lady at the top of the chain may be being unrealistic about what she wants or is incredibly picky. I'm starting to worry as my mortgage offer has to be completed by 15 July, which now looks unlikely. While the offer *may* be renewed I don't want to assume that it will be, and also don't want to be waiting around indefinitely.

Does anyone have any good ideas about anything that I can do to encourage the top of the chain to get a move on or perhaps even encourage those in the middle to look elswhere or go into rented? Or are my options just to wait it out or pull out?

Thanks for your thoughts!

Doozergirl

If it has taken the old dear this long then there's a good chance she won't find what she is looking for and the chain will collapse at the top anyway. If she hasn't found it in two months you have to consider that her expectations are too high and she's looking for something that doesn't exist in the price band. At two months down the line she should have already considered whether to rent to keep the sale.

I would seriously tell your solicitor and the EA and the vendor that unless everyone wants the bottom of the chain to collapse as well, someone needs to find a property to move to - whether that be the old dear at the top or someone along the chain finding another house to move to. Or indeed you finding another house to move to.

Two months is just incredibly selfish of the person at the top. You just don't do that to people. Please don't tell me you've done all the conveyancing? Advice would normally be not even to start until the chain is complete - even complete chains can be unstable, let alone ones that haven't actually formed properly.

I would seriously get Right Move open now and start tentatively looking again. Don't be rude, don't make empty threats, but someone needs to put people into action and test the motivation of people up the chain to actually move. Considering the % of sales that collapse and the likelyhood of this one going, I think it would only be sensible to put feelers out and encourage others to do so as well - starting with the people that are waiting for this old lady. It should start on their shoulders.

timmyt

pelethecat wrote: »

I am a FTB at the bottom of a chain - but the person at the top of the chain is taking a very long time to find somewhere to move to. My EA says that she is an older lady who is looking for something quite specific - well it's been two months and she hasn't made any offers. There are two properties in between me and her (the people we're buying from, the people they're buying from, then her). Basically it seems that the lady at the top of the chain may be being unrealistic about what she wants or is incredibly picky. I'm starting to worry as my mortgage offer has to be completed by 15 July, which now looks unlikely. While the offer *may* be renewed I don't want to assume that it will be, and also don't want to be waiting around indefinitely.

Does anyone have any good ideas about anything that I can do to encourage the top of the chain to get a move on or perhaps even encourage those in the middle to look elswhere or go into rented? Or are my options just to wait it out or pull out?

Thanks for your thoughts!

your agent needs to explore along the chain who can break it and go into rented. simple as that.

pelethecat

Hi, thanks for this. Luckily I haven't done the conveyancing yet (or actually my own homebuyer's survey - had the mortgage valuation done through the mortgage company though). Am trying to get the EA to see if the people above me will look elsewhere or rent, but so far they've said no. The EA seems not very bothered, says 'well you'll just have to get a mortgage extension' but will carry on until she gets the message!

Just trying to think of the best way I can get her to put a bit of pressure on further up the chain. I guess there's not really any way a solicitor can help here either, so need to keep a good relationship with the EA.

Choc-addict

Interesting, we're first time buyers and the people we are buying off of have yet to find somewhere to move too - it's been over two month now and we've decided to give it until June (which will be three months) and then ask the EA whether or not they will consider moving into rented to complete the purchase with us....if we carry on waiting after this we won't know what we'll enter into, a longer chain....who knows. It can be so frustrating!

pelethecat

Yes, I understand most vendors can't make serious offers until they've accepted an offer themselves, but two months seems a long time if you're serious, realistic and know what you're looking for... A colleague of mine waited nearly six months while her vendors tried to find their perfect home. After that time, the vendors decided they couldn't find anywhere they liked more than their current house and pulled out of the sale - all the while my colleagues had been living in rented accomodation in order to be able to sell their house. It's a bit of a messed-up system in that way.

But I just had good news! My vendors have pulled out of the chain, found somewhere else and had an offer accepted, and the place they're buying has no onward chain and wants to move by end of June! I only wish my EA had given me a bit of hope this was on the cards sooner, as we were pretty close to pulling out ourselves.

Wise-Bat

Me and my partner too feel we might be heading down a similar route to people above. Fingers crossed we don't.

It only being about 1 month 1 weeks so far for us but no complation date or ideas of one has really been suggested yet! We are first time buyers so bottom of chain, which our estate agent says is quite long (how do they know how long it is?). People we buying off want a quick completion too we been told anyway! But when speaking to our estate can't help but think he is giving us a little info as poss, as he dont even know just to shut us up. Plus very rarely returns calls when enquiring progess, like as some other posted above "doesn't seem interested".

Our solicitor said he got the contract of the vendors solicitor last week and will be in contact with oursleves after he had chance to look over in further detail. He also applied for a local and enviro search on property now he has the contract.

Still not heard any responce to that too!

We are so keen to get completed now.

pelethecat

As Doozergirl said above, it might be a good idea to ask your solicitor to hold off until you have a complete chain. Your estate agent should be able to give you a yes/no answer to this question. If the sale falls through and your solicitor's done all the searches and conveyancing work, you'll still need to pay him. My solicitor was completely understanding when I asked him to hold off until we had a chain in place and had completed our survey.

DVardysShadow

Choc-addict wrote: »

Interesting, we're first time buyers and the people we are buying off of have yet to find somewhere to move too - it's been over two month now and we've decided to give it until June (which will be three months) and then ask the EA whether or not they will consider moving into rented to complete the purchase with us....if we carry on waiting after this we won't know what we'll enter into, a longer chain....who knows. It can be so frustrating!

Sounds like a good plan. Tell the Agent now that this si what you will be doing.