how long is reasonable to wait for completion?

shockmeshockme

Hi there,

We are after a bit of advice......

Our story is that we are first time buyers and put an offer in on a house that was accepted 3 weeks ago. We knew that the vendor hadn't found a property at that point but we said we weren't in a real hurry as we are lodging with my parents at present.

We had some pressure put on us from the EA about the long wait for a mortgage application appt and wanting solicitors details so we managed to get a mortgage appt quicker and secured our mortgage offer very quickly in the end and also instructed a solicitor.

We've had a call from the EA today to say that the vendor wants to put an offer on a house, but that the owners of this house can't move until July when their new build house should be completed.

We understand that moving house is a slow process, but is this an unreasonable time to wait? 4 months + and that's only if the house is compleated on time! (Or is it the thought of living with my parents for longer?!?:mad:)

We love the house and don't feel we could get anything else like it for that price.

Any advice where we go from here?

Thanks in advance
Shockmeshockme

squeeks

I wouldn't be happy with that time scale, but finding another house, offer accepted etc... can take a while.

Providing you haven't exchanged you are free to put in offers on other houses.

If you do exchange and can pin your vendor down to a completion date you will at least know where you stand.

ReadingTim

4 months / 16 weeks is probably one of the longer timetables, but you've been made aware of it at the beginning of the process and have previously advised you're in no hurry - therefore the only one being unreasonable is you.

If you don't like the timetable, find somewhere else with a shorter (or speedier) chain.

Hoploz

I would add that I sometimes read on here about new builds missing deadline after deadline and completion dates are not set in stone, so proceed with caution.

Keep looking, but it may be that you don't find anything else straightaway. If it takes you a month or two to find something that brings us to mid/end April, start negotiations then, you're probably only a month off the same completion date anyway.

If this is your dream house then stick with it for the sake of a month or two. But check when the July deadline will be confirmed by the builder.

ethank

Generally new builds are delivered on two weeks notice. You only find out 100% you are moving then. We are coming into better weather so hopefully it should all be okay for July.

Your other option is tell them that you want them to move and they should rent or stay elsewhere.

Our new build was already ready when we purchased so did not have this to go through.

It will soon be July. If you were looking at houses now it could take a couple of weeks to get your mortgage offer changed, and then 8-12 weeks - taking you to late June.

I'd stick with it personally.