To continue with sale?

pink_star

Hi all

Have been looking to move so put mine on market. I found a home and offer accepted etc in the mean time I accepted an offer on mine.

Now the house I wanted, the vendors have pulled out not wanting to move after all. No contracts have been exchanged etc, so no issues there.

Obviously this time of year the property market is pretty bleak and i can't find anything suitable, so know I have to wait until next year now realistically. The estate agents I sold my house through are very pushy but I've put off the survey for now as I'm worried about my rights.
If I go ahead with sale and exchange contracts do I have to leave the property by a certain date or can I stay here until ive found something? I have children, so renting is not an option. Or should I pull out of sale and put my home back on market next year too?

Thanks for advice

silvercar

You could exchange with a delayed completion, but you would need to put a date to it. Bearing in mind that your buyer's mortgage will have an end date too, so chances are you will not be able to agree a date beyond a few month's time. Ask your buyers what they feel about exchanging now and completing in April?

Downside is that you will have to move out on completion date even if you haven't found a property to buy.

There is also a risk to exchanging on your sale and not on your purchase. You have to decide if prices may go up/ down or remain unchanged.

hazyjo

Why is renting not an option with children?


I'd either see if your buyers will hang on, or lose them and start again next year. No point in exchanging now with a long gap 'til completion as it's all guesswork. You may lose a couple more houses yet, who knows, and the chances of the completion of a purchase falling on that exact date you've guessed at in the future are probably rather unlikely IMO. Sounds like it'll just create a whole load of stress all round...


You may find your EAs bill you anyway - but you may be able to come to an agreement that you'll put it on with them again in say Jan.


I'm still seeing tens of properties come onto the market every day in the areas I have alerts set for, so you never know...


How far along were you all? Do your buyers know you've lost the house you were buying?!


Jx

mrginge

hazyjo wrote: »

Why is renting not an option with children?

Many landlords will have a 'no children' condition, as they don't want the additional damage that children can cause. Things like digging up gardens, destroying carpets, flea infestations, bringing other children round and causing a nuisance to neighbours.
All fairly standard.

hells_bells

mrginge wrote: »

Many landlords will have a 'no children' condition, as they don't want the additional damage that children can cause. Things like digging up gardens, destroying carpets, flea infestations, bringing other children round and causing a nuisance to neighbours.
All fairly standard.

Why would your children have fleas? This makes no sense. And as for your kids destroying the carpets, erm how about telling them not to do that!

Dan-Dan

mrginge wrote: »

Many landlords will have a 'no children' condition, as they don't want the additional damage that children can cause. Things like digging up gardens, destroying carpets, flea infestations, bringing other children round and causing a nuisance to neighbours.
All fairly standard.

Lol , hello Scrooge

Paully232000

mrginge wrote: »

Many landlords will have a 'no children' condition, as they don't want the additional damage that children can cause. Things like digging up gardens, destroying carpets, flea infestations, bringing other children round and causing a nuisance to neighbours.
All fairly standard.

That is a surprising clause, good job I never wanted to rent whilst having children.
Although I have two children none of them have ever dug up my garden, destroyed a carpet (however I have), had fleas, or caused a nuisance to neighbours.

thebman

When we bought our house the sellers hadn't found anywhere to buy when they accepted our offer, they gave it another month and then without wanting to hold up the sale and risk us pulling out they moved into rented (with two small children) so they could take their time over buying. We were pretty lucky how amicable it was.

mrginge

Sorry guys, just read that back.
I always get confused between 'children' and 'pets'.

You should have seen the look on my lad's face the last time i tried to take his temperature.

DaftyDuck

mrginge wrote: »

Sorry guys, just read that back.
I always get confused between 'children' and 'pets'.

You should have seen the look on my lad's face the last time i tried to take his temperature.

Glad it wasn't to the vets to have him "done". :eek:

pink_star

Lol thankfully my kids are well behaved and don't come with fleas :rotfl: we do have a pet though.

One of my children has an illness and It would impact on their health. Also ive looked at rent prices and we just couldn't afford it, it's higher than my mortgage, even for a studio apartment! I'd have to pay for storage too on top.

I'm sitting on my emails hoping for Rightmove alerts, fingers crossed something comes up.

The EA have said the chap is buying multiple properties so can hang on a bit, sounds like he's buying them to rent, but I'm not convinced they've told him, as they keep on about the survey and solicitors.

If I can't do the delayed completion and nothing comes up then I guess pulling out of the sale is all that's left 😒

Really appreciate your replies, thank you.