Offer Accepted - Waiting for Vendor to Find A Property To Purchase

socookin

Hi,

We're FTBs and have just had an offer accepted.

The vendor still hasn't found their property to purchase. Is this common, and what's an acceptable time to wait?

Understand there is no right answer here, just keen to get other's opinions.

Thanks,

EmmyLou30

My advice is keep looking at rightmove or what ever in case the sale doesn't go through. I would also say to the vendors you aren't willing to commit money on searches and surveys until the chain is complete and they have found somewhere to buy. Hindsight is a wonderful thing, and this is what I would do next time. Our vendors kept us hanging on for 4 months saying they were looking but couldn't find anywhere. In the end they decided not to sell and we were £1200 out of pocket.

Thrugelmir

socookin wrote: »

The vendor still hasn't found their property to purchase. Is this common, and what's an acceptable time to wait?

That's life. Until your vendor has sold their property they are not in a position to make offers (that will be accepted). And likewise above the chain will be built. Be patient.

DRP

As above.

Be patient, keep your eye on the market.

Keep regularly updated from their EA (or the vendors themselves if you have contact).

It is unfortunate but sometimes things don't work out - we let down our buyers once, felt guilty about it but circumstances made the move impossible.

Belindav123

The normal process is view - offer - agree offer, so until your vendors got an offer, which they just did with you, they can't offer on anything ( well they could , but it would not be taken seriously), so be patient.

Put yourself in their shoes for a minute, would they have accepted an offer from you if you still had a house to sell.

But on the other hand, the time it takes them to put in an offer should not be unlimited. If they are motivated sellers they will get on with it and not delay.