Vendors lost their desired house, should we wait?

silk_2

Buzby wrote: »

You cannot force them. If it is meant for you, you will get it it - there is little point in fretting or tantrums.

If it is clear they are genuine - and they appear to be, be sympathetic, it'll pay dividends - as you've already saved the extra F&F costs due to delays.

We haven't though, they haven't offered or agreed to drop said costs letalone give us any other assurances.

We have been very patient / sympathetic so far, but we have a deadline and we can't afford to gamble on blind trust.

ValHaller

silk wrote: »

The other big frustration is that we're with countrywide and we literally had to call them every day to keep everything moving.

With Countrywide for what? What bearing does that have on the situation you find yourselves in?

silk_2

ValHaller wrote: »

With Countrywide for what? What bearing does that have on the situation you find yourselves in?

I am not sure it has any bearing tbh. They are our conveyancers.. not sure what needs to be changed their end as a result of vendors buying a diff house.

Seabee42

silk wrote: »

Luckily the (second) house they are currently putting an offer in for has no chain. If it had a chain we would have probably pulled out now rather than drag this on for much longer - and I think our vendor probably realises that.

We are happy to wait but our main concern is that they will pull at last minute, which will mean we've wasted half a year and loads of cash only to be without a home in the rising market as you say.

We're renting at the moment and we need to hit the property ladder before next year otherwise we'll be in a REALLY bad situation where we can't compete with the sudden influx of FTB's getting government loans for their deposit.

(I am not a FTB due to owning a negative eq. home up north)

It's paramount to us that we definitely, definitely get the house - if there were some way the vendor could guarantee that to us other than exchange it would be a huge relief to us - but as it stands now every time we ask to exchange we get fobbed off!

Just to be clear I had to pull out on first house (just completed on second yeah) and if they are spending money on surveys and searches etc they clearly want to move to. If the second survey turns out wrong or something comes up on legal side those are probably the reason they didnt go for the first house.

silk_2

Seabee42 wrote: »

Just to be clear I had to pull out on first house (just completed on second yeah) and if they are spending money on surveys and searches etc they clearly want to move to. If the second survey turns out wrong or something comes up on legal side those are probably the reason they didnt go for the first house.

They did go for the first house, the top of the chain pulled because they were taking too long..

SolemnSolitary

silk wrote: »

They did go for the first house, the top of the chain pulled because they were taking too long..

And by taking to0 long, Silk means that after 2.5 months after offer (that was almost 3 weeks after we were ready to exchange), they only began sorting out their application for a mortgage.

Almo

I think you should carry on looking at houses - not only as a tactic but also so you can hit the ground running if it all falls apart again. I'd be upfront and say you do really want their house but can't wait indefinitely.

How easy is it for you to drop the offer 1.5k - will you need to get a new mortgage offer etc? I'd be very reluctant to pay 1.5k F&F if it was agreed to facilitate a quick sale!

Seabee42

Hm without knowing the reasoning behind why they only just thought about having to pay for something after all that time I would be wondering whether they can actually move. The fact they had not applied for a mortgage for most people means they did not do a survey either.

I agree with other suggestions on here that you have nothing at all to loose to look elsewhere. If you find something else good you would loose some costs if you switch but it might be wise to keep your options open.

Prothet_of_Doom

I have experience of trying to buy 2 houses, when the vendors, just didn't seem to have any hurry.

One, had seen a really nice cottage, and on a whim, had an offer accepted, put their house on the market, and 16 weeks later, decided that a flying freehold over an alleyway between 2 houses, which had been there for 400 years, could not be resolved, and they started looking for something else to buy. Given that they never really needed to move and it was a nice idea that they had one day, me getting stressy and giving them an ultimatum, just caused them to take the house of the market, and so we had waited 16 weeks for nothing.

2nd house came up actually on the same estate, and we had a verbal indication, uninforcable gentlemens agreement, moral high ground etc. that they would move in with friends or rent somewhere if they couldn't move quick enough for us. After 8 weeks, they hadn't actually found a house, that they liked let along made an offer, but we'd payed for surveys, and searches and the like.
My attempt to take the moral high ground and ask them to exchange and move out in the next 4 weeks, caused them to take the house off the market.
From someone I worked with, I found out 18 months later, that they had eventually moved.

My point. If you want the house, it will take as long as it takes, and they will take as long as they want, and meanwhile, you might be gazumped, loose your job, loose your buyer, or give up and buy a new house.

That's waht we did, pay over the odds for a new house that was not quite right for our needs, because I refused to consider any house that wasn't empty.

makeyourdaddyproud

Prothet_of_Doom wrote: »

I have experience of trying to buy 2 houses, when the vendors, just didn't seem to have any hurry.

One, had seen a really nice cottage, and on a whim, had an offer accepted, put their house on the market, and 16 weeks later, decided that a flying freehold over an alleyway between 2 houses, which had been there for 400 years, could not be resolved, and they started looking for something else to buy. Given that they never really needed to move and it was a nice idea that Tthey had one day, me getting stressy and giving them an ultimatum, just caused them to take the house of the market, and so we had waited 16 weeks for nothing.

2nd house came up actually on the same estate, and we had a verbal indication, uninforcable gentlemens agreement, moral high ground etc. that they would move in with friends or rent somewhere if they couldn't move quick enough for us. After 8 weeks, they hadn't actually found a house, that they liked let along made an offer, but we'd payed for surveys, and searches and the like.
My attempt to take the moral high ground and ask them to exchange and move out in the next 4 weeks, caused them to take the house off the market.
From someone I worked with, I found out 18 months later, that they had eventually moved.

My point. If you want the house, it will take as long as it takes, and they will take as long as they want, and meanwhile, you might be gazumped, loose your job, loose your buyer, or give up and buy a new house.

That's waht we did, pay over the odds for a new house that was not quite right for our needs, because I refused to consider any house that wasn't empty.

Good tale of warning but please, please, please use "lose" not "loose". I wanted to vomit when I witnessed your spelling abuse.