First Purchase Advice

firstimebuyer1

Hi all,

Was just looking for some advice as I am a first time buyer.

I had an offer accepted on a house end of last month, mortgage has been approved, survey completed and solicitors instructed.

The sellers of our house haven't found anything suitable yet and would have been a month after accepting our offer this coming weekend.

My wife is getting getting very stressed thinking that this is a long time to wait without the sellers finding a suitable property, I am not sure if this is a perfectly normal time frame as this is our first purchase.

The EA give us an update each week saying they haven't found anything suitable yet but are actively looking and would like a quick move etc but after nearly a month of looking are the sellers maybe just dragging their heels a little?

thanks for your help!

System

It will of course be a stressful time as a FTB but there really isn't a set guide as to when your sellers will find a house suitable.

Just human nature that they will of course want to move to a property they like rather than just move at speed to keep their buyer happy.

It's really frustrating but everything regarding buying and selling ( usually ) is.

Sounds like you've done all you can so far and once your sellers do find a place you'll be ready and waiting.

I wish you look and try not to stress

engineer_amy

I think you need to relax a bit. These things take time. You may have been lucky enough to find your dream home (or even just a suitable starter home) relatively quickly, but considering that a house purchase is likely to be most people most expensive purchase in life, don't you think it should be given adequate thought?


Your vendors may be looking for this to be their last move, into their dream property, and don't want to be rushed. They may not have found anything they like within budget yet, or in the area they want, or any number of reasons. It took me 3 months from when I started looking until I found a home I was happy with.


I definitely don't think they are dragging their heels, based simply on what you say, and I understand that you are eager to get moving as FTB, but the vendors will find somewhere when they are ready, not because they are being rushed by the buyers.

ellie27

I think a month is a long time and it wouldnt be acceptable to me. I would continue to look at any other houses that come on the market so that you have a back-up house.

Are you able to wait around for how ever long that may be? Are you willing to wait with a possible move-in date of around 2-3 months from now? If so then thats fine.

Good luck

Dan-Dan

Why have you incurred costs on a chain that is not complete?

richy999

A month is not a long time to wait.
Remember, your sellers will have had trouble even getting viewings until they are in a position to proceed.

I assume that you knew the sellers had not found a place before you put in your offer. Did you make your offer conditional to completing by a certain date?

Your sellers will be feeling a little stressed out now. The know they need to find somewhere asap but will not take any old place just to keep you happy.

Welcome to the frustrating and stressful world of home buying.

firstimebuyer1

thanks for all of your input.

we are willing to wait as we currently live with parents so it was more a question of is this length relatively normal.

We haven't actually incurred any costs as of yet apart from mortgage fee (which is refundable if the house falls through)

As imagined we are just eager to get in there as it is our first place, so we will just have to wait for them!

Dan-Dan

firstimebuyer1 wrote: »

thanks for all of your input.

we are willing to wait as we currently live with parents so it was more a question of is this length relatively normal.

We haven't actually incurred any costs as of yet apart from mortgage fee (which is refundable if the house falls through)

As imagined we are just eager to get in there as it is our first place, so we will just have to wait for them!

Was the survey free :-)

firstimebuyer1

yep, costs for survey covered by lender

Dan-Dan

firstimebuyer1 wrote: »

yep, costs for survey covered by lender

Was that a homebuyers report ?

firstimebuyer1

no it is a nearly new home and we were happy to go with the standard valuation.