Vendors taking forever to find onward purchase...fed up

reallyjammyjam

Hi all
Am hoping to get some feedback, especially if you have been in the same situation (either side!)

Background for us: couple, chain free (currently in rented)

It’s now been over 4 months since our offer was accepted and the vendor still hasn’t found anywhere.

They had suggested that they might rent ‘if they had to’ however that’s obviously not going to happen.

We have been looking on RM etc. since we put in offer and we have no qualms about going in for another property however we haven’t found anything. We are being quite fussy aswell for various reasons and so this is THE house that we want. We just can’t find anything to match up to it.

The trouble we are having is that we feel we have no leverage to dish out ultimatums.We know that we are the 3rd buyer (they other 2 pulled out because of the same reason) so it’s pretty much 99% certain that they will just say ‘OK then, we will just get another buyer’ as that seems to be their game. I cannot think of any way that I can push this along. They don’t know yet that we are looking at other properties but I don’t know that they would be bothered anyway.

Extremely fed up now, especially being as this is our second attempted house sale after our vendors pulled out just before exchange last year! (we seem to have a knack for trying to buy houses that people don’t actually want to sell!!)

The latest has been that the vendor phoned the estate agent to let them know they were going to put in an offer for a property, but they wanted to wait for some quotes to come back first on some work that needed doing.That was nearly 2 weeks ago and I think even being optimistic that it might have taken a while to get the quotes together, I doubt the house is even still on the market. EA can’t get hold of them, leaves messages but no on calls back.We were hoping that she might be waiting for something to tell him however I think we were clutching at straws with that and I have pretty much concluded that sale isn’t happening.

Mortgage deal expired also – deadline to extend is tomorrow and we need a completion date, which obviously we don’t have.

Any suggestions on how we can play it?
Thanks in advance

Dan-Dan

Sorry , but it sounds like any attempt to push the vendors , or make threats will equal them just taking the house off the market

You cant make someone move house , and going into rented isnt for everyone , much as as people always say it to help get the offer in the first place

If i were you , i would not be incurring any costs at all and getting used to the idea of not moving this year

good_advice

Oh dear! sounds like you need to move forward and look for a diffrent home.

reallyjammyjam

thanks for feedback, I wanted to check that there wasn't some way to play it that I hadn't thought of. Sounds like we are all on same wavelength regarding the vendor's pulling out.


I remember when we started looking and people telling us we are in the best position as we are chain-free and first time buyers and people would be falling over themselves to get us. It's been the most hard work ever and not paid off in any respect at all so far!

salop12

It seems quite simple to me, get your solicitor to work a final date into the contract, i.e. must move out by end of October. That gives them until them at the latest to find somewhere. It's extremely unlikely they will find anywhere in the winter months if they can't find one now. How long do you want to wait? You say there are other buyers interested but nobody wants to wait forever.

DRP

OP~We were the vendors in a situation a bit like yours. We struggled to find an affordable house, and in the end (9 months ish), our buyers pulled out.

From the beginning they were regularly asking for updates.
After a few months asked whether we would consider moving out (No).
Next they told the agent they had to start looking at other properties.
Eventually they found an alternative.

There was not really much they could do to force us to move out, but things were amicable as they were honest in what they were doing, and we were honest in our searches for a new property (and in keeping them informed).

You need a plan B and to distance yourself emotionally from this particular house. If you haven't already started, you need to start inquiring as to their progress, and giving them subtle indications that you're starting to look at other properties...

zarf2007

DRP wrote: »

OP~We were the vendors in a situation a bit like yours. We struggled to find an affordable house, and in the end (9 months ish), our buyers pulled out.

From the beginning they were regularly asking for updates.
After a few months asked whether we would consider moving out (No).
Next they told the agent they had to start looking at other properties.
Eventually they found an alternative.

There was not really much they could do to force us to move out, but things were amicable as they were honest in what they were doing, and we were honest in our searches for a new property (and in keeping them informed).

You need a plan B and to distance yourself emotionally from this particular house. If you haven't already started, you need to start inquiring as to their progress, and giving them subtle indications that you're starting to look at other properties...

I suppose sensible people wouldnt put their property up for sale before finding a property to buy, thus wasting everyones time and money.....

still the market is full of timewasting idiots like you.

DRP

zarf2007 wrote: »

I suppose sensible people wouldnt put their property up for sale before finding a property to buy, thus wasting everyones time and money.....

still the market is full of timewasting idiots like you.

Thanks for the supportive words.

In a fast moving market your clever advice just isn't practical - houses move quickly, so unless you are in a position to proceed then there'shardly any point in viewing (and certainly not offering).

Dan-Dan

The chain has to start somewhere?!

alibean121

zarf2007 wrote: »

I suppose sensible people wouldnt put their property up for sale before finding a property to buy, thus wasting everyones time and money.....

still the market is full of timewasting idiots like you.

That isn't how it works though. An offer on a property you like won't be taken seriously unless you have an offer on your place. By which time, the property you like has probably gone... It makes more sense to form bottom up. It's unfortunate if your sellers don't find something, but you'll have lost little if you move on to something else. If you can't find another property you like instead, you probably have some sympathy for the sellers ie. there isn't a lot of quality property in the local market.

ReadingTim

The only thing I can suggest is to view some other places with the same agent as the place you hope to buy - this might make the agent fear another sale will fall through and exert some additional pressure on the buyer - they'll want their fee after all.

But ultimately, you can't force anyone to move, so perhaps you need to reassess whatever criteria has led to to decide this is the only house for you....