Back Househunting

lilyann1

Well after 7 long months,we are a bit stuck.
With all the problems in the chain and our vendor now pulling out of his 2nd house ,he is now having trouble finding something maintenance free in this area.

He likes our house, his agent has said, but we are £30k over his budget and we cannot afford to drop that.He cannot afford to drop that amount off his house either for us to do 'swap'

He is looking for other houses but there is absolutely nothing on the market!!!

We still have our buyer and they have their buyer for the time being and so we are back out house hunting this weekend,but there isn't alot for us to look at either.

Obviously we need to find somewhere that has no chain or is willing to vacate,it is so difficult to know what to do.

Our buyers will hold on for ages she says,but it is their FTb who will want to move quickly and may pull out as there will be loads on the market for him to buy.

If he pulls out our buyer has said she cannot go through all this again and will not remarket her property for a while,so then we'll have to put ours back on the market.

So i need to move very very quickly!!!

Moving to rented for us is not an option with 3 kids as rental prices around here are about £1500 to £2k per month!!!!

Any advice would be appreciated

lynzpower

where are you and where are you looking to buy??

JennyW_2

sorry to hear about your situation. I was going to suggesting renting until I read your last sentence about the prices - yikes! :eek:

I know it's probably not ideal but what about storing a load of stuff and perhaps moving in with a nearby relative or good friend?

I do feel for you as we only completed last month after 5 long months and that was bad enough.

goldbyron

I really feel for you. Could you not move an extra mile out and find cheaper rented accomodation. I am not sure where you live however - I know that where I am (West Essex/East London) a mile makes all the difference in costs.

I think if I was to put myself in your shoes I would be actively looking for another house. I would have thought the market would be quite good at this time of year and you may find a chain free home. I would set myself a deadline in which to find a new home and if no luck with your current purchase/ finding new purchase look at renting.

The other alternative is to stay put - but then you may be desperate to move.

I am so sorry - please keep us informed of any decisions/developments.

lilyann1

We live in Caterham Surrey and really want to stay fairly local,even though we know it is an expensive area.
Unfortunately we do no have any relatives nearby,mine live in Guernsey in the Channel islands and OH's up in midlands.Friends have smaller houses than us so thats not an option.We like our house ,but been in it 14 years since it was new build and really want a change and a 4th bedroom as our 3rd one is very very tiny. Just phoning up Agents for 3 viewings tomorrow.Hopefully we'll find somewhere fabulous and the vendors would be more willing to move out,who knows

mjfusent

IMHO what you really want is a collapsed chain to fit into. I would concentrate on calling all of the local agents, every Friday and asking if there are any properties who's buyer has pulled out, I know all too well that this happens regularly these days, often just before exchange. A well progressed chain would enable you to complete a new deal quite quickly, especially if you can buy surveys & searches from the person who pulled out (this happened in my chain).

A quick point I'm sure you know that if you specifically ask an agent if a deal fell through due to survey problems they have to tell you.

Hope it all works out for the best!

Mike