I've had a good weekend - Quit while I'm ahead?

franklee

TBeckett100 wrote: »

Personally I would go with the older couple

They are probably "old guard" and therefore won't mess you around. Older people tend to want security and therefore won't dilly dally.

If they were true cash buyers I'd agree but their chain is only as strong as the weakest link. They bring two other buyers in the chain with them one of which may be a FTB or BTL in any case and thus not "old guard" who won't mess the OP around. I would ask the position of everyone in the older couple's chain and then pick the option likely to be most reliable.

ccskitten

My plan is to wait for the FTBs AIP to check that they can afford the house and at the same time check out the older couples chain. Until I have all the info I'm not making any decisions. I won't have any of the info until tomorrow.

My previous buyer was a cash buyer in a chain. The chain broke right at the beginning (2 links down). It was 3 weeks before I knew anything about it and a week before we were due to exchange. It was heartbreaking! I do feel safer with a FTB in that even if anything does crop up I should be the first to know!

I would also hope that with the FTB things may progress a little more swiftly. My mortgage offer runs out on 16 October. It's unlikely I will get away without needing to extend the offer but I'm in with a better chance than taking on a new chain.

I think it's clear which way I'm leaning but like I said, I won't make a final decision without all of the information.

Thanks for your help.

ccskitten

Thank you all for your replies. They were all useful.

Just a little feedback..s.


I spoke to the FTBs and the cash buyers with a chain and it appeared that the cash buyers had all of their ducks in a row and were able to exchange quicker than the FTBs. The cash buyers were happy to use my previous buyers solicitor so all of the searches were complete and their sale was already progressing nicely. The FTBs were unable to complete until November at the earliest as they had some holiday booked late October and didn't want to move before hand. The cash buyers seemed like the better choice at this point.


Anyway, we accepted the offer a week ago and they dilly dallied to appoint the solicitor. They came for a second viewing on Sunday and measured up etc and seemed happy but mentioned that they were going to use a different solicitor as my previous buyers solicitor was too expensive but they were fast tracking the searches.


Yesterday I had a voicemail from the estate agent to call them urgently and low and behold the cash buyers had lost their sale. Thankfully I contacted my other Estate Agent who contacted the FTBs and they still want to buy.


This is the 4th sale that has fallen through now. I'm really thankful that the FTBs are still interested. If they weren't I think I would have pulled my house off the market! I knew buying and selling was stressful but I didn't expect this many ups and downs! 5th time lucky!