Sold our home but new purchase fell through.

Davesnave

sparky130a wrote: »

But Andy's point stands. The house isn't sold. Not even close really.

And what's wrong with forward planning?

People use terms loosely, but it doesn't mean they're unaware of the process; certainly not in this case.

"Close to exchange" is stated. Are you implying that the OP has no idea what this means, or of the uncertrainty implied until it takes place, especially after their recent experience?

I looked at what they said and my inferential comprehension took me to a different place from you and Andy, who seem to prefer being pedantic.

sparky130a

Davesnave wrote: »

And what's wrong with forward planning?

People use terms loosely, but it doesn't mean they're unaware of the process; certainly not in this case.

"Close to exchange" is stated. Are you implying that the OP has no idea what this means, or of the uncertrainty implied until it takes place, especially after their recent experience?

I looked at what they said and my inferential comprehension took me to a different place from you and Andy, who seem to prefer being pedantic.

Nothing wrong with forward planning.

But using the term sold when contracts have not even been exchanged could be confusing for other posters reading (especially first time buyers potentially)

I'm not implying this is the case with the OP.

Davesnave

sparky130a wrote: »

But using the term sold when contracts have not even been exchanged could be confusing for other posters reading (especially first time buyers potentially)

True, there's a very small risk of that, but no more, or we'd be doing most FTBs a disservice. The vast majority will be very aware of the buying process and what exchange and completion mean.

Of course, there will be a few who are truly clueless, but I'd suggest that, for them, it's likely to be "Whoosh!" whatever they read.

Crashy_Time

PasturesNew wrote: »

Rent. But don't rent something nice and lovely, perfect .... rent something that's too small and awful and cheap - as it really sharpens your mind into cracking on and finding the right property soonest while most of your stuff's in storage ... and you're 'wasting' the least money.

If you rent something "lovely" you'll just mellow out and forget what you were supposed to be doing.

That would never do. Most places won`t be seeing price rises over the next few years IMO, so I would just chillax and take your time.

Crashy_Time

mysterymurdoch wrote: »

Not every house sale falls through!

Many do though, and it isn`t sold until it is actually sold.

Browntoa

I rented in a similar situation , worked out that completion on new place coincided with end of 6 month tenancy

Also meant I was a good no chain buyer with a large deposit and got a good deal as I was able to move fast

sparky130a

Davesnave wrote: »

True, there's a very small risk of that, but no more, or we'd be doing most FTBs a disservice. The vast majority will be very aware of the buying process and what exchange and completion mean.

Of course, there will be a few who are truly clueless, but I'd suggest that, for them, it's likely to be "Whoosh!" whatever they read.

For once Dave i disagree.

The threads posted on here time and again prove a lot of people abdicate this sort of "knowledge" to their solicitor and claim ignorance.

However i take your point regarding the OP, i in no way was trying to condescend. Apologies if it came across that way.

Pincher

https://www.youtube.com/watch?v=ivI6oLN09o0

The miracle is, how people manage to move house at all.

Opportunity to de-clutter.

A guy had a full garage. His mature off-spring moved house, and dumped a whole load of stuff on him. Looking at the c*ap, I think he's going to die before any of it gets picked up.

BJV

Rent rent and rent.

Having money in the bank and not being a chain makes a massive difference. Same thing happened to us but we had exchanged on our house so had to be out. Long story short last minute new charges had been put on the house we where buying.

Was it stressful god yes, nearly 1 year on and I am I so glad we did. We got the house we wanted in the end but being completely chain free put us in a strong position.

Do not however tempting rush and buy something just because. Not unless you absolutely love it.

Good luck.

The_Logans

Assuming you do still want to move house and weren't moving just because you wanted THAT particular house, I'd consider going through with the sale and renting for 6 months. As others said, it puts you in a strong position as a buyer and takes the pressure off you relying on a sale going through when you are trying to purchase somewhere else.