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When enough is enough?
elDeeJay
Posts: 190 Forumite
We have an offer agreed on a house and as FTB’s are keen to get in our first house. However, the people we are buying off lost their house about 10days before we were about to complete (long story!) and for the past three months have been ‘actively looking’ for another house.
Now I'm fully sympathetic that they cannot find another house that suits their needs/budget, but how long can we be expected to wait before getting peeved and deciding to call it a day?
At the moment we are in Limbo, we have no idea when anything is likely to move and are just rally frustrated. The thing is, we really want the house because its outstanding value compared to the rest of the market right now...
ARGH! Home buying is so frustrating!
Now I'm fully sympathetic that they cannot find another house that suits their needs/budget, but how long can we be expected to wait before getting peeved and deciding to call it a day?
At the moment we are in Limbo, we have no idea when anything is likely to move and are just rally frustrated. The thing is, we really want the house because its outstanding value compared to the rest of the market right now...
ARGH! Home buying is so frustrating!
Nice to save.
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Comments
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offer to exchange in the next two weeks with completion mid- December. If they won't agree to that I would consider looking elsewhere.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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elDeeJay wrote:We have an offer agreed on a house and as FTB’s are keen to get in our first house. However, the people we are buying off lost their house about 10days before we were about to complete (long story!) and for the past three months have been ‘actively looking’ for another house.
Now I'm fully sympathetic that they cannot find another house that suits their needs/budget, but how long can we be expected to wait before getting peeved and deciding to call it a day?
At the moment we are in Limbo, we have no idea when anything is likely to move and are just rally frustrated. The thing is, we really want the house because its outstanding value compared to the rest of the market right now...
ARGH! Home buying is so frustrating!
It is whats commonly known as a "chain". I wonder if the people they lost the house to were like you.. impatient.
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No set time really. Just depends how sure you are you want the house. If prices are rising in your area, the vendors might even think they could sell it for more by now if you pulled out!
Have you had the suggestion put to them that they may wish to consider renting somewhere for a while?Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery0 -
I don't think waiting for 3 months for someone to find a property is particularly impatient. And it's not much of chain - it's broken.mr.broderick wrote:It is whats commonly known as a "chain". I wonder if the people they lost the house to were like you.. impatient.Not even wrong0 -
Twopints wrote:I don't think waiting for 3 months for someone to find a property is particularly impatient. And it's not much of chain - it's broken.
Hang on they'd found somewhere and it fell through, they are now trying to find somewhere else, if i had lost money in a chain id be ultra careful the next house was bullet proof so i didnt lose anymore money, if ftb pulls out its going to be even more "broker"0 -
I have been in a chain since March,firstly buyers buyer pulls out after 3months,2 days before exchange!!!
Then they find another buyer in 10 days,then our vendor pulls out of the house he was buying after another 2 months just as we're all due to exchange again.He has been viewing properties for last 3 months and we are all still waiitng ,we are all seriously cheesed off and all would like to call it a day but we all like the houses we are trying to buy and so are willing to hang on.
We have looked at others and so have our buyers but we agreed that our vendor should really try and find somewhere this week and stick to it,which he has,so we'll just have to wait again and see what happens.
This is the trouble with the buying process in this country--it stinks!!!!
It all depends whether you love the house and are willing to wait or if there is soething else out there for you!!0 -
Still waiting on this house, still no progress
Nice to save.0 -
Tell the EA that you are still interested but are going to start looking elsewhere since you cannot wait indefinately. That may persuade the EA to get the vendor to buck their ideas up. There is nothing stopping them selling and going into rented whilst they look if they were that keen to move surely?0
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I have 2 sets of clients in the same chain who have been waiting 12 months now for the vendor at the top to find a house they want to buy. They've pulled out of 2 so far. My clients are all sitting tight as one of them is waiting for their dream house, and the other knows if he looks for another property the same as the one he's offered on, it'll cost him 20-30k more.
doesn't sound like your vendors are the type to fall for a bluff, so i think you may have to bite the bullet and pull out if you really want to get moved somewhere.0 -
To be honest, I'd have done what silvercar suggested originally and then have pulled out by now.
That is unless prices have risen significantly in which case I don't know what I'd do!
Either way, I'd have been viewing other properties freely for the last two months and hoped for something even better.
Everything that is supposed to be in heaven is already here on earth.
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