Should we have moved faster?

tyllwyd

LittleMissAspie wrote: »

And as someone who took 7 months to find a house we liked enough to buy and get our offer accepted, I just don't see how you can make your buyer wait that long!

In my experience, when I've been in longer chains the FTB has ended up complaining about waiting - in one chain, where there were problems with our sale we ended up paying for someone below us in the chain to put their belongings in storage so that they didn't lose their FTB.

PasturesNew

There are a lot more "no chain" properties around now than I've ever seen in my life before. It's possible a house will turn up that's "no chain", or the original one might turn up again in 3 weeks.

chris_m

PasturesNew wrote: »

There are a lot more "no chain" properties around now than I've ever seen in my life before.

There will probably be even more when/if interest rates start to head north.

Evilm

We had the same thing but the agents didn't tell us this until after we had put our offers in! They then refused to accept them because we were not proceedable.

We actually found a much better house in the end and were glad for it.

AppleCore

Thanks for all your advice. If the original house came up again I'd be over the moon but I'm not holding my breath:o

Well we have a problem in that there isn't a single property currently on the market that we even want to view. We've accepted an offer on our house from FTBs can move quickly but they have agreed to give us time to find another property.

How much time is reasonable? We don't want to keep them waiting too long but then we don't know if/when a property we like will come up.

We want to avoid moving into rented because of the hassle and potential interest rate hike but at what point should we accept that we've kept them waiting long enough and need to move out?

MobileSaver

AppleCore wrote: »

How much time is reasonable? We don't want to keep them waiting too long but then we don't know if/when a property we like will come up.

Explain the situation to your buyers and ask them how long they'd be happy to wait for or suggest a month or two and ask if that's ok. The more upfront and honest you are the more likely they'll be understanding and maybe even extend any initial deadline if something comes up at a later date.

Of course the longer you delay the higher the risk that they happen to see something they like even more than your property or that their circumstances change.

In the current market buyers are few and far between so personally I'd just move full steam ahead with the sale come what may. If you have to be inconvenienced for a few months then so be it; just think how much better a position you will be in with no downward chain when you do find your next dream house. (Can you stay with family/friends for a month or two rather than rent?)