Help - Sellers still havent found a new property

BS1112

Hi everyone,

I'm new here and really need advice! My husband and I are first time buyers. We found our new house 3 months ago and had our offer accepted.

Everything has been progressing on our side except one major issue, our sellers have yet to find another property. The other issue is we are currently renting and have been given till the first week of September to stay where we are or we will have to sign another 6 month contract. We cant afford to rent and pay a mortgage at the same time. We also dont want to be out of pocket for the valuation fee and we dont want our mortgage offer to expire.

We have been flexible with the sellers but have had little to no contact with the EA. She is terrible with communication.

We just need a time frame to know what our next move should be so we can keep a roof over our heads. I have requested a time frame and made all parties aware of our situation, but things just dont seem to be moving. My husband is getting tired of waiting and wants to view other properties, I dont want to give up this house as I am attached to it and love the house. The sellers are very nice as well, and have been very sweet but it seems a bit excessive to still be looking for another property after 3 month.

How long could this all take?

And thoughts would be greatly appreciated! :A

Thank you!

betmunch

I think you need to listen to your husband.

Every now and then you get sellers decide against moving, this could be one of those times.

I would speak to the EA about the sellers, put forward your concerns and ask them to set a time scale to find a place and if they dont find by then will they consider renting?

If the answers dont came back that you are happy with then its time to walk

Doozergirl

Firstly, you do not need to sign a new tenancy agreement. If you do not sign then your revert to what is called a Statutory Periodic Tenancy within which you only need to give a full rent month's notice.

Secondly, you won't want to hear this now, but you never proceed on a property until you have a complete chain - for reasons just like this. The longer it takes your vendor to find something, I think the less chance there is that they will move. It doesn't take many people three months to find a place even after they've sold their own. They are not trreating you fairly and I agree with your husband, that these people need a push and looking around may just motivate you into giving them a good shove into action or indeed finding something better.

How long did it take you to find this perfect house? If it wasn't very long then I promise it won't take long to find something even more perfect. Every time I've lost a property I've wanted I've ended up relieved when something even better turned up - in general, it just helps you set your sights higher.

There was a thread last week with a vendor who had so far taken four months and couldn't have cared less about the buyer. They're going to be lovely to your face because it suits them to try and keep you happy. Go and look. At least if you don't find something better you'll be happier waiting.

Jowo_2

Tell the buyers that your rental accommodation ends at the end of August and that they should look to move into a rental property in early September if they wish to proceed with the sale of theirs.

Tell them that unless they commit to this, and exchange contracts by the x date in early August, you'll withdraw from the sale. Let them know you've already started to search for alternative property as a fall-back if the date of exchange is not set up or if it lapses.

That way,by setting a deadline and ultimatum, they will either buck up or they will actually show their true colours, namely that they've got cold feet and never really intended to go through with the sale. It also means you have a firm date when you know it's not coming together and can start viewing other properties with a guilt free conscience.

gbcasual

Set a date for them to get moving, either for their new house or for them going rented.

Suggest that any further delays will cost you money which means you will have to drop your offer to them each month.

Start looking for something else as well just in case they are actually messing you around. You may find something better.

I think sellers in this market should be open to going rented if they have an eager buyer with no chain below them!!

BS1112

Thanks for all the replies.

We spoke with the EA yesterday and she assured my husband that they would have something in the next 2 weeks. They did put down an offer on a house a few weeks back which fell through and they seem to be the kind of people who take their time. They do have a family so I doubt renting will be an option.

What should my next step be? I have informed our solicitor that we want a time frame and wanted to know our options. he has yet to get back to me. ( He has been great in the past, no issues with communication)

:mad:

I just wish there was a way to keep everyone happy and get a time scale agreed on. I dont want to spook the sellers which is part of my hesitation.

Jowo_2

A lot of families rent! why are they precluded from this? Or they can move in with relatives and put their stuff into storage (that's what I did, albeit sans sprogs).

Put the pressure on - nothing like a deadline to clarify the mind. Ask that EA to send you through details of similar priced and located properties for you to commence viewing the week after next.

In 3 months, they've managed to find just a single property to put an offer on? And presumably a low one or they'd have secured it, given the short chain that they would have offered to the other party.

SimonMrGreenWard

Pick a timescale that you would be happy with in order for them to find. I say they need to have an offer accepted within 2/3 weeks as realistic.

I had vendors like this once and the chain fell apart. I did end up selling it again but was a right pain and they lost £3k on selling price.

You set the date, not the solicitor. Go ahead and just tell everyone what date you wish to exchange by.

BS1112

I have just spoken with our solicitor who has been very helpful and I would recommend him, he will be calling their solicitors to see what our options are as we are ready to go and waiting on them.

He will also find out if they would be willing to rent until they find something. Lets see what they say.

I will also give the EA a call to see what she has to say.

ab7167

We had this exact problem in that I was the seller - not that we couldn't find something we wanted but the purchases kept falling through. In the end we sold our house, put our stuff in storage and moved in with relatives. With one child and another on the way that was actually born while we were living with my in-laws. If my buyers had even hinted that they were fed up with the delay I would have done everything in my power to get moving, I think they are taking advantage of your good nature now. We were lucky to have inlaws who could accomodate us, but we were quite prepared to rent for 6 months as well. Why can't families rent?

Alan2020

BS1112 wrote: »

I have just spoken with our solicitor who has been very helpful and I would recommend him, he will be calling their solicitors to see what our options are as we are ready to go and waiting on them.

He will also find out if they would be willing to rent until they find something. Lets see what they say.

I will also give the EA a call to see what she has to say.

OMG, I don't know if to cry or to laugh. :eek:

You are just faffing around and being used as a doormat, wake up.

If I were you;

Ring your solicitor

Tell him, I BS1112 wants this to take place on xxx date, if not I am OUT.

What happens to the seller is not your problem, they can rent, they can buy, they can go on a holiday or live in a motor-home.

Rule number one in business, never fall in love with a material thing, it is not a human being.

As others have said you are being taken on an expensive ride and you are the sellers insurance policy STOP being a doormat and be firm, it's a buyers market, you dictate how the world goes around NOT the seller :rotfl:

Good luck:A