How long is an acceptable time to find a new home

traybonoaholly

Hi there,
My house sold STC 17 days ago and was taken off the open market. I wanted to ask how long others who have sold and also bought houses. How long is an acceptable length of time to expect the next person in the chain to find their new home.
My buyer has sold theirs and every single day they are the phone wanting to know exactly what I'm doing. I do understand that they have pressure behind them so I totally empathise there.
I am actively looking at houses everyday, I'm on rightmove all the time, I see as many houses as I can where they can fit me in.
But it's beginning to grate on me abit the constant phonecall's. I have taken all my paperwork in to the solicitors as I don't intend to pull out but I do need to find the right property to be able to move, I'm not just going to move in to any old thing or something I don't want to so the sale goes ahead.
Ive told my estate agent over and over again my position and I have also told them that they will be the absolute first to know if I find a property I want to buy or an offer I make is accepted on a property so they can let the buyer know. Everytime they know I've viewed a house they want to know if I'm buying it and if I'm not why not.
I've found my estate agents getting quite ratty with me and saying well what will you do if you havnt found something in the next two weeks, will you rent blah blah because the buser is putting pressure on them, but im the one paying their fee not the buyer and they should be representing me. Again I've already told them I will not rent and that the sale is dependant on me finding another property to buy. From my perspective if I havnt found another property in two weeks my buyer needs to decide if they are willing to wait or not, if they are not then they shold withdraw as i cannoy try any harder here. I can't exactly say when I'm going to have found my next home, it's a case of how long is a piece of string.
I don't know what else I can do. I've been completely honest from the start with the EA and solicitor, ive told them my situation and if the agent is putting this across I don't know what more I can do here.
So anyway how long is an acceptable time to find a house, surely my buyer should wait until the chain has formed??.

indianabones

Really does depend on the buyer. I would have been prepared to wait about 6-9 months depending on the length of the chain. I wouldn't have gone for a chain bigger than 3 parties anyway. But finding the right home takes time. If you can't find one in the time they want you to, maybe it's just one of those situations you'll have to accept and move on to another buyer.

Never rush buying a home, you can find other buyers usuall quickly, you can't buy a new house quickly if you get it wrong.

CP26

We have just had the agent round today to put us on the market. However, we have nowhere to go yet.

It's so chicken and egg...to be considered proceedable we have to have sold our home but because we are looking for something quite particular we think it might take some time for the right property to come up, which may well frustrate a buyer.

We are lucky in that our property might have some good interest so there is a strong chance that if we lost a buyer, another may come along quickly. We can also be flexible on our price to attract another buyer if needs be.

However none of that helps us find a new place. We have been told to be honest with our buyers and they are pretty much going to have to put up with it or move on unfortunately. We will also be advising them not to start on any paperwork, searches etc until the chain is complete as (although its their choice) we'd rather they didnt get excited and start spending money straight away.

We are being proactive but we will be spending a lot of money on our next home and we intend to live there for a long time so it has to be right for us. Although we have outgrown our current house it is lovely so we would stay if we can't find anything and make do so we won't be renting just to suit our buyers either.

Your buyer needs to settle down and be patient - afterall you have been honest and you are trying. If they arent happy then they will need to move on and you'll have to find a new buyer.

All you can do is be firm but realistic with them I think.

traybonoaholly

Thankyou so much for you reply. Your reply really sums up how I feel. But I think they are putting on alot of pressure considering its only been just over two weeks. I don't want to keep them waiting at all but I can't just buy anything so they can have my house. They knew they are in a chain and that then I am too. Just wasn't sure if I was being unreasonable by wanting to take some time as I want the right house not just a house. Thanks

traybonoaholly

Thankyou CP26, we were exactly the same.we put our house on the market, we didn't put offers on anything as ours hadn't sold and we didn't know if it would at that point and didn't want to hold up a chain that way. There was a property we liked which has since sold prior to us selling, but without selling we went in a strong position to hold a property. I think my buyers are being really unreasonable now. X

CP26

We have a generous budget and a big search area so you'd think we would have lots of choice. However OH is after something quite particular when it comes to setting (quiet, not too built up, maybe views of some green space) and that means many properties get ruled out. The ones that have made it to viewing have then been axed for other reasons...some I agree with him on, others I am getting frustrated by as I seem easier to please than he is.

Still it is a lot of money to spens so it has to be right for both of us.

Hang in there. If your buyers keep pushing you may just have to tell them where to go and get yours back on the market...even the threat of that might make them give you some space for a bit.

Surrey_EA

The answer to your question will depend on a number of factors.

• How easy was it to find a buyer for your propety?
• How attractive is the price you are being offered?
• How keen are you to make a move?
• How realistic are your requirements for the next property?

Some buyers will wait many months, if they are really keen on the property they have offered on. Others may only wait a few weeks, if similar alternative properties are available.

How did the buyer get hold of your phone number?

traybonoaholly

Sorry I responded to both the last two posts. It's not showing so I'm assuming it may have gone to inbox, if it has I'm sorry,I've not quite figured out how to use this forum properly yet, sorry

societys_child

How long is an acceptable time to find a new home

On the other hand, perhaps the question should be:
How long is an acceptable time to expect my buyers to wait?

traybonoaholly

yes but that is just the same question just reworded, but that is basically what i am asking. how long should i expect a buyer to wait. one week after the house came off the market it was call after call after call. not even 7 days had passed. im good but not that good

OnePost

Go and rent

I am one of those "unreasonable" buyers who has been waiting ages for the seller to move.

Either you are ready to sell or you arent. You cant have your cake and eat it. You have no idea what time constraints they may be under.

Some buyers have had to renew 6 month minimum rentals because of sellers prancing about.