Vendor won't exchange, advice

Hoploz

You need to apply to your current LA as otherwise you will end up with her in the worst school in the less good area! You don't have to accept a place but you need to have her name down somewhere.

Consider renting if you definitely intend moving.

You will not be able to push your vendor to find a house, nor to move into rented. We were under offer for several desperate months scrabbling around to find, but nothing came on to suit. We had been happy in our house so we would not move unless the new house was right. Markets go up (normally) so we would lose a lot of money if we sold before buying. We would just have reluctantly had to say goodbye to our buyer, and yours could do the same. It's not their problem, I'm afraid it's yours.

TheCyclingProgrammer

JencParker wrote: »

School places are at a premium in London and Home Counties so if this is the area you are looking to move too I wouldn't put too much store on being on a waiting list. I think you have to decide what it is important - getting your daughter into a good school, or the possibility of getting her into one where you are now and travelling back to that school until or if a place comes up at the new school if you move.

Travelling back 45 miles isn't really an option!

TheCyclingProgrammer

Hoploz wrote: »

You need to apply to your current LA as otherwise you will end up with her in the worst school in the less good area! You don't have to accept a place but you need to have her name down somewhere.

Consider renting if you definitely intend moving.

You will not be able to push your vendor to find a house, nor to move into rented. We were under offer for several desperate months scrabbling around to find, but nothing came on to suit. We had been happy in our house so we would not move unless the new house was right. Markets go up (normally) so we would lose a lot of money if we sold before buying. We would just have reluctantly had to say goodbye to our buyer, and yours could do the same. It's not their problem, I'm afraid it's yours.

We are applying through our LA. Our LA offers 6 preferences, the one where we are moving 4. So we will put down 4 schools in the new area and two locally as a contingency. We probably won't get one of our 4 in the new area so once we move we will get offered wherever they can put us. Our chances on the waiting list aren't terrible. We will almost certainly be on the top of the waiting list for the school we want.

We do want to move though so renting is an option.

I don't understand the logic of them losing money if house prices go up. They have accepted our offer, it is what it is. Of course they could pull out, I know that. House prices have slowed down where we are buying though.

TheCyclingProgrammer

If the EA comes back to us and says they will consider exchanging now for a higher offer, even though we previously indicated we would only offer another £1k, it seems like it would be important to see exactly how much more they would want. If it turns out to be less than what it would cost us to rent allowing for movi costs, rental fees and possibly still paying rent once we complete, it might be tthe best option for us after all.

rosie383

Voyager2002 wrote: »

I disagree with this... Primary School lays the foundations for everything else, and getting a really good primary school is worth a fair amount of trouble. Having said that, most primary schools are better than people realise... (there is a general belief that schools are bad while most primary parents know that their particular school is good: they therefore believe that they have an unusually good one).

It is true that a good primary school is important but at reception age it is not as vital as year 5 or 6 if it's only for a year. I hope it all works out for you CP.

TheCyclingProgrammer

rosie383 wrote: »

It is true that a good primary school is important but at reception age it is not as vital as year 5 or 6 if it's only for a year. I hope it all works out for you CP.

Thanks. The school we want has a separate junior school so if we didn't get a place in the first year, applying again for the juniors when she reaches year 3 might work out. I believe there is a bit more flexibility on class sizes from year 3 onwards. The juniors admits 4 more than the infants.

Andypandyboy

If you definitely want to move to the area I would hang on for the house and rent to get the school.

It is the lesser of two evils; moving possessions twice or moving a settled child from a school and friends she loves......

Lord_Baltimore

I'm glad you're coming around to the renting idea; it gives you breathing space and puts you back in control.

I know some might disagree but you need to get your daughter into the school of your choice from the get go. Don't be looking back and thinking what she might have achieved if you'd just put yourself out that bit more. Look at her liddle face - she's worth it eh?

Good luck.

TheCyclingProgrammer

Lord_Baltimore wrote: »

I'm glad you're coming around to the renting idea; it gives you breathing space and puts you back in control.

I know some might disagree but you need to get your daughter into the school of your choice from the get go. Don't be looking back and thinking what she might have achieved if you'd just put yourself out that bit more. Look at her liddle face - she's worth it eh?

Good luck.

Thanks. We need to wait and see what the LA requirements are as I've read that some require you to have at least a 12 month tenancy or still be living at the same address come September. This could make the option a moot one.

Hoploz

TheCyclingProgrammer wrote: »

I don't understand the logic of them losing money if house prices go up. They have accepted our offer, it is what it is. Of course they could pull out, I know that. House prices have slowed down where we are buying though.

The point is, if I sell at say 300k and rent, I lose 1k a month on rent, and the market increases by 5 or 10% before I find something, if I lose my buyer I can go back on the market in a few months time when I find what I like and get 330k ... 30k more than I got from the original buyer.

If they are happy to stay with you then that's great, my uuer stuck with me for several months before I moved, but having been there, I preferred the possibility of losing my buyer to selling first and chucking money down the drain renting, having sold my appreciating asset.

The market may be slower at the moment, that's normal for the season, but if you walk away they might go off the market till the Spring increase and with a seasonally busier market they might sell for more and find the right house.

You, on the other hand, are on a deadline, and unless you find something PDQ, you won't be exchanging on anything else by end Jan anyway.

I really feel for you, the whole chain thing is a nightmare, but at the end of the day everyone has their own reasons for selling, some are on a deadline, others are not.