Accepted offer on my house but can't find a house to buy.

csgohan4

Don't buy a house because your rushed, your buyers can wait in some way, your buying a house for your self, not satisfying your buyers


Last thing you want is regret at buying a house you don't want. If you house has no problem finding buyers, time is on your side, if not, renting as mentioned earlier is a good option

6am

Instead of selling and renting you could buy a second house and then sell the first house later.

bmthmark

Make sure you don't feel rushed. I can assure you the estate agent you are selling through will ring you constantly as they feel that they have done the job and sold your house and now need paying. But obviously they don't get a penny until you are out.
I had the same situation, I sold my house within a day. Then I had big problems finding a new property. I did feel that I was under pressure and felt I needed to find a place quick, probably due to the estate agent ringing every other day.
In the end I had to tell the estate agent to stop ringing. I said if it continues I will simply take it off the market. They also did the classic line 'your buyers mortgage in principle expires soon so they need to move'.
In the end we found our perfect property and it was the best move for us.

Good luck

divadee

I agree with previous posters about don't be pushed or feel rushed, but....... also don't push or rush your buyers to do any surveys or legals either. We pulled out of a sale as the sellers who hadn't found anywhere and said it could take them a couple of months were pushing us to have our survey done and start our searches etc.... Why should we spend our money when the chain is not complete? The sellers could of not found anywhere for months and months and then decided not to sell and we would of been out ££ because of that.

seven-day-weekend

I think you need to decide what is essential and what is 'desirable'. To us, when we downsized in 2015, the location was essential. Other essentials were, at least two bedrooms, decent garden and off-road parking, near shops and bus route.. We were prepared to compromise on the style of house if necessary, to get these essentials.

Luckily we didn't have to and got a lovely bungalow that ticked all the boxes, under budget . However, it was a do-er-upper. This I suppose was the compromise, although we didn't really mind as we had our own stamp on it. It's now 'done up' and we love it.

But do be prepared to compromise in things that are not essential.

thebigstillmeister

It's not a bad situation to be in depending on the area you are in,..

We moved in Dec 2015 and was in the same situation where we had first time buyers lined up and nothing on the market about, but actually worked out well for us,

We tried moving the year before and we were in the reverse situation, a number of houses were coming up every few weeks which we liked but had no buyers for ours,.. because houses go quickly in our area no one would even consider an offer from us due to this,

2015 came around and we got a couple of first time buyers renting a house just around the corner lined up, as they were first time buyers they were not in any real hurry and were happy to wait. We went around each estate agent and went in and asked if anything was coming up which is a good way to do things as sometimes they did and we even saw one house before it even hit the market. We also did a letter drop, although got zero response from that.

Also due to the lack of houses available estate agents would all do open days and one week suddenly 3 houses came up all having an open day on the same day i the area we wanted,.. we went around all 3, fell in love with the one we now own and put in an offer first thing Monday morning.

As we had first time buyers lined up and a mortgage in principle (they wanted proof of both), we were the preferred buyers and we were accepted straight away,

Cakeguts

I would like to suggest some research. Tour the areas you are interested in and make a list of the houses that you would like to live in that are not currently on the market. For example if you want an extra bedroom you can usually tell the 3 beds from the 2 beds and the 3 beds from the 4 beds. Work out how many there are and the likely chance that any of them will come onto the market. If there aren't very many you might need to increase the area you are looking in.

Hoploz

Relax! It's only a week in. Your buyers know you haven't found anything yet. They'll just have to wait. In a month or so there will be a lot more coming on the market - now is a quiet time.

If your buyers eventually decide they can't wait any longer then it can't be helped - you'll get another buyer.

Ive been in same position and my buyers waited 6 months for us to find, despite us saying at the start we had found (t was taken off market so we had to start looking again)

Unless your house is a difficult one to sell there's no reason to move out and rent. Just take it one day at a time.

Of course, if you've waited 2 years before getting this offer and won't sell if you don't snatch this offer then that's different.

tomatta

I'm on the opposite side of this as a buyer. I would be more than happy to wait as long as the seller takes the house off the market.


Although I'm a FTB living with my parents so I have no time deadlines.

6am

The one thing to keep in mind that if your buyer decides that they do not want to wait there is a high chance that they will not tell you about their decision. You might find yourself in a situation where you think you have a buyer but in reality you do not. And it will happen at the most inconvenient time when you find the house you love.