Vendor hasn't found a property

allyM_2

Hi there.

I'm getting in touch as I've found a house I've fallen in love with - but the vendors onward offer has fallen through. I've kept an eye on the market but the prices are rising and I feel like I am happier to wait on this vendor and the offer I have had accepted than I am settle on somewhere I like less.

I'm wondering if anyone else has ever waited successfully on a vendor for a long period of time? I know it's not advisable as it could fall through, but I'm also pregnant and could do without the stress! Advice welcome

Baxter81

We didn't wait for a vendor, but our buyers waited for us in a similar situation, you never know, it may not be a long wait!

Our buyers offered on our place (we already had seen somewhere and were waiting to make an offer) and we had our offer accepted the same day. We then all waited 12 weeks for our vendor to mess around before they decided they weren't really ready to go after all and take their house off the market.

Our lovely buyers said they'd stick with us as long as we were looking, and within 2 days an almost identical house came up on the same street (in a village, and these only tend to come up every 15-20 years normally!) and we were back on! That was 8 weeks ago and we all moved yesterday!

Alienna

You can wait, but there's no guarantee on how it will turn out.

A similar thing happened to me last year - we had found a house we really liked, and the offer was accepted. The only thing was they hadn't found their new home yet, but had some viewings lined up so were hopeful. That was in July.

Their offers weren't accepted on those houses, and then their viewings on new places seemed to have dried up. In November we had a phone call from the estate agent saying they'd taken the house of the market as they were struggling to find anywhere, so had decided to stay put.

So that was four months of waiting and anticipating... Slightly frustrating. :mad:

However, we had an offer accepted in January on a different house, and moved in 3 weeks ago! Now, I'm so glad that happened - my new house is much nicer than the one we lost. :j

Good luck! :beer:

Bluebirdman_of_Alcathays

It happened to us, 5 months we were waiting. Then we threatened to pull out, and all of a sudden they were less choosy...

AnotherJoe

allyM wrote: »

I'm wondering if anyone else has ever waited successfully on a vendor for a long period of time? I know it's not advisable as it could fall through, but I'm also pregnant and could do without the stress! Advice welcome

Yes, but in a reverse sense, the people I was buying from waited on me a fair time as my sale fell through several times, but that and any other anecdotal reports of it happening / not happening has no meaning whatsoever as to what will happen to you

All you can do is look around and see what else is out there "just in case" and hope your vendors do find something. Are you a FTB or at least no chain below you? Just to cheer you up arent the stats something like a third of chains fall through? :eek:

allyM_2

Just to cheer you up aren't the stats something like a third of chains fall through?

Ekk thats a lot - just the name of the game I suppose - so stressful! The estate agent was panicking me telling me the area had rocketed and if we were to buy the exact house we brought now we would pay 30K more. I was particularly unimpressed with that remark to be honest - thought it was rather unprofessional considering we had had an offer accepted on the property - and also irrelevant?!

Dan-Dan

allyM wrote: »

Ekk thats a lot - just the name of the game I suppose - so stressful! The estate agent was panicking me telling me the area had rocketed and if we were to buy the exact house we brought now we would pay 30K more. I was particularly unimpressed with that remark to be honest - thought it was rather unprofessional considering we had had an offer accepted on the property - and also irrelevant?!

Not really, they dont want you to pull out do they

Hoploz

My buyer waited 6 months for me to find. Likewise prices were going up and if I'd put it back on the market when we found we would've got another 30k for it as well. Big dilemma but we stuck with them as they had waited and they had no chain etc.

allyM_2

@Hoploz good to hear a positive story! It's a dilemma - we're in a chain our buyer is holding on for now but could pull out at any stage - will get sorted but such a headache when you're stuck in a chain!

Slinky

My now OH waited 5-6 months while his vendor found. He ended up letting his sale complete about 3 months in as he was moving area and already working away from that home living in a rented room, and put his stuff into storage. The vendors were pensioners but would only go house hunting at the weekends......... in the end their purchase got delayed another couple of weeks when it turned out a tree with a TPO was no longer in the garden of the place they were buying so that needed dealing with by the solicitors (person responsible for removal of tree having died).

It was risky as at the time the market was rising, but his vendors did at least stick with the agreed figures.

Grenage

We have had this with our purchase, which was then delayed by a new build delay down the chain. We waited, but continued to look at other properties during the time.