Potential buyer wants to move in 5 weeks...

spook

We have had an offer from someone who has already set a completion date for their property in 5 weeks time, so they would want to move into our house on that timescale. It's a fairly good offer - not as much as we'd hoped but may be as good as we're realistically going to get.

Is this even possible? We have found a property we like but not yet made an offer on it (as we've been waiting for our property to sell). The vendors of this property would be OK with a fast move as they have some temporary accommodation in place with family anyway. However they may not accept our offer anyway!

Basically, should we forget about this offer?

Grateful for any advice anyone can provide.

McKneff

Absolutely not,
Make your offer as soon as possible, if you've had a good offer, make a good offer ensurng that they will accept.

Moving is easily attainable if all parties agree.

G_M

It's perfectly possible in terms of the sale of your property.

Whether you can buy in the same timeframe is another question and depends on others up the chain.

Are you willing to sell and move into a rental or with family for a short period?

phoebe1989seb

Hi spook,

We've previously managed something similar (6 weeks from offer to completion)..........it was tight with getting everything to fall into place on both sale and purchase, but perfectly do-able - although it was a very short chain. Currently we've accepted an offer from buyers looking for an 8 week timescale (due to pressure from their buyers and their own work commitments) and hopefully it is all going to come together, despite the fact we only had our own purchase offer accepted a month after we accepted our buyers' offer as we struggled to find something suitable!

Hope it all works out for you

Phoebe x

McKneff

Exciting isn't it:j:j:j

jollymummy

We moved to our current house in 6 weeks. We actually sold to the landlord who owned the house next door to ours. The people we bought from were moving to Cyprus and renting so we were not in a chain. As we sold directly to the landlord we didnt use an estate agent and managed to move within 6 weeks with our 7 month old baby !!!
Good luck.

spook

Thanks for the replies - it's reassuring to hear that others have managed to pull it off in such a short time!

G_M, I'm not keen to rent as it could end up quite costly and will mean moving twice, but we could do it at a push. Unfortunately we don't have any family or friends locally who would easily be able to take in a family of 3. Fortunately we have two potential properties we could buy and both are, I think, OK with moving out quickly. (Whether either of them will accept our offers is another matter).

McKneff, exciting isn't the word I'd use!!! :eek: :eek:

Phoebe, I think I'd be a nervous wreck in that position. Good luck with it!

From our point of view, moving in 5 weeks is going to be tough. We have busy lives and may have to travel on a couple of the upcoming weekends, so that doesn't leave much time for packing boxes and saying goodbye to our beloved home... but we'd be prepared to do it if necessary. As things are at the moment I don't really think it would be wise to turn away a keen potential buyer.

(Also, we do have another couple who have promised to make an offer but are "waiting to hear back from their bank" - I'm still holding out for the possibility that they may make a higher offer within the next couple of days - but the first buyer is unlikely to wait much longer... understandable if they've sold their property and looking at being homeless in 5 weeks time!)

spook

We've just accepted the offer. We move in 4 and a half weeks.

My face -> :eek:

split_second

when i bought my place i did it in 3 weeks, with easter in the middle :eek:

i can see why the buyer is so keen to move, 1 move instead of 2, no rental for a minimum of 6 months to pay for etc.

taxsaver

Fastest I've ever done was 6 days from offer to completion! It can be done as long as you have a good solicitor and lender and you are very committed to the process.

hazyjo

Our buyer wanted to exchange within three weeks. Due to unforeseen problems with our purchase (and the fact he took forever to even get his survey done), it took FIVE months!

If you take a week or so longer, they could always stay with friends or in a hotel or something for that week. Surely wouldn't be worth them pulling out of the deal... I'd say go for it, but make all parties aware (solicitors, EAs, mortgage bods, etc)!

Fastest I've managed is four weeks from offer to Completion. Was a nightmare though, but definitely possible.

Jx