Time scales when moving, please help!

ownerofthemoneypit

I know that time scales are always different, but I am looking for a rough guide. I am also new to this so please bear with me.

I have sold my flat for a second time, first time the buyer walked away as I would not reduce price by a full 10k just before exchange, as they wanted to extend the lease, the valuation had been made with that in mind and survey confirmed price was fair.

This time rather than a FTB it's an investor, who made an offer 20/10/06, I accepted the offer under asking price on condition of speedy move. The survey was done and back by 13/11/06 and was clear, which I knew already. All searches were done and queries answered and buyer and thier sol apparently happy on 11/12/06, and I had signed contract on 18/12/06.

I haven't heard anything since December, I have been in daily contact with my sol and EA, who are both saying we are in a position to exchange, but buyer has not signed contract, I am beginning to get worried that the buyer is not serious, neither the EA or my sol can get hold of buyers sol.

How long shall I wait? I haven't put in another offer on a property due to first experience of selling property, and plan, if need be, to move in with family whilst buying, in the meantime house prices are rocketing, and I have effectively come off of the ladder.

So fustrating, including the first sale this has been going on for almost a year, hence the username! Would appreciate any advice.

Daisies

When in December did you last hear from the buyer? They might have taken Christmas/New Year leave so it's probably worth giving them 3 weeks from when you last heard from them. Otherwise could you decide on a date in the next fortnight or so after which, if you haven't heard from them, you'll put the house back on the market?

I bought my first house in June, and was told it was going to be speedy as I was buying from a developer and already had my finance in place (ie no chain in either direction). It took 6 weeks from the offer being accepted to completion. I was the other way round - I got the survey etc arranged quickly and returned everything quickly to my conveyancer, but the seller took forever to answer their questions and provide my solicitor with details (delay might have been their solicitor rather than them though!)

Good luck!

ownerofthemoneypit

I heard from them on the 18th, both sols were in the office from 3rd Jan. I have given them until the 19th Jan to exchange as we agreed to exchange before Christmas and didn't.

Oh well, lets hope I hear something soon! Thanks for the advice.

lynzpower

has your ea had contact? i too would be worried by this. but again thenve spent more than you have so you have that on your side

ownerofthemoneypit

Hi Lynz

The EA claim they have spoken to the buyer and he was keen to exchange by Christmas and is ready to exchange, but they say they cannot get hold of buyers' sol despite her being in the office, and they asked the buyer to chase this up before christmas, and then again straight after.

I just a bit worried because the first buyer messed me around for five months before pulling out. Hopefully the deadline will get things moving. It's the first time I've sold, and when I brought the flat it only took just over 3 months to go through, and there was a chain. Just hope I haven't made a wrong decision.

Lets just say I'll be in my next home for a very long time before selling again!