How long is reasonable to wait for vendors to find somewhere to buy?

arthur_22

I'm about two months into a purchase of a house, and everything has ground to a halt because apparently the vendor hasn't found anywhere to buy.

Feeling a bit frustrated...should I just twiddle my thumbs until they find somewhere nice? How long for? What is a reasonable period of time to wait for them and what is just taking the Michael do you think?

delmar39

arthur_22 wrote: »

I'm about two months into a purchase of a house, and everything has ground to a halt because apparently the vendor hasn't found anywhere to buy.

Feeling a bit frustrated...should I just twiddle my thumbs until they find somewhere nice? How long for? What is a reasonable period of time to wait for them and what is just taking the Michael do you think?

Are you a first time buyer, in rented or have you sold up? I suppose they've done the decent thing waiting for a buyer before looking around themselves. Really up to you and depends how much you want the place. If you're in no rush then does it matter? If you are in a rush then let them know how long you're prepared to wait before looking elsewhere. However, they're not forced to find a straightforward chain when they do find somewhere so it could be another few months yet, esp with Christmas period coming up. Get an update to see where they're at. Best of luck.

sonastin

... about as long as it takes you to find somewhere that you would want to buy more.

Don't throw this purchase in the bin just because you are frustrated until you have an alternative in place.

Mayalabeille00

I am sorry to hear that your purchase does not go smoothly but my views are that we are currently in a buyers's market and as a consequence if I was your vendors I would try to make you happy in anyway I can so that you don't pull out.

Now, it all depends on how much you really want this house but in any case I would contact the vendors and tell them that you are getting frustrated and that you want the sale to progress as soon as possible. Depending on your "attachment" to the house you can be pushy with them.
At the end of the day, there are so many vendors that would be happy to find a buyers that if I were them I would move out and conclude the deal as soon as possible just to make sure that the sale goes through.

Good luck with the purchase

firstaspect

I would start looking at other places in the meantime, you never know you might find somewhere you prefer. Otherwise you won't have wasted any time if this does keep dragging on and on.

mlz1413

Why are the vendors selling? If its a change of area then I guess it could take time to travel up & down to new area but if its up or down sizing in the local area then 2 months is a fair time to have looked and chosen somewhere.

If you have a time limit to move then I'd speak to the EA and ask for an explaination and approx time vendors expect to be. If you don't get a satisfactory answer get your solicitors to write to them ask them if they are prepared to complete the sale by xx/xx/xx date.

Vendors could move into rented if they really want to sell.

As others have said do you want this property or are other places you would buy?
Don't push too hard if this is the only property you really want as the vendors may just take it off the market.

Jowo_2

Two months is long enough. Tell your solictor to instruct yours that you want to be in the property well before Christmas therefore you require the sellers to move into rented accommodation and discuss an acceptable exchange date in November. This will give them a month or so to find rental accommodation and a storage facility for their belongings.

southerngirl_2

I agree with Jowo, you've waited a reasonable time already. I'd let the vendors know that you'd like to be in the property before Christmas and ask if they're prepared to move into rented accommodation if they haven't found a suitable property in time. See what their response is and how forthcoming they are. It depends on how badly your vendors want to sell. Even if the vendors do find a property they like they could then be waiting on those vendors to find somewhere.

G_M

It is reasonable to wait until your patience runs out.

At that point, give the vendors a deadline, and keep it.

googler

In Scotland, when an offer is made, it includes the price, any conditions and an entry date. Once the offer is accepted, and once the missives are concluded, that's it set. If the seller doesn't like the entry date, they can decline the offer or re-negotiate it, but things don't move forward without a set date, or an agreement on both sides that it can be flexible, at the time the offer is accepted.

The seller knows they're moving out then, the buyer knows they're moving in. None of this having an offer accepted then waiting two months to find that you still don't know when you might get entry to the house you've just agreed to buy......

Maybe time that folks in E&W lobbied the government for some changes in the buying and selling system..... ?

picardygirl

Jowo wrote: »

Two months is long enough. Tell your solictor to instruct yours that you want to be in the property well before Christmas therefore you require the sellers to move into rented accommodation and discuss an acceptable exchange date in November. This will give them a month or so to find rental accommodation and a storage facility for their belongings.

I agree two months is long enough, but IMO its a waste of time trying to twist their arm into agreeing to agree to go into rented, they might "agree" just to keep you whilst they are still looking but when it comes to crunch time they could turn round and say not prepared to go into rented. We've been there! House we found owners said they would definitely go into rented so technically became end of chain, so we all got our mortgages etc and then all of a sudden they decided not to as they found somewhere ..... nothing you can do if they change their mind, then you either have to stick it out to the bitter end or pull out and risk losing money (ie surveys, solicitors fees etc)!