should i put my house back on the market

traybonoaholly

hi there.
my house sold stc and it took me two weeks to find a new one to buy. I am in a chain and we are the end to the chain.
my solicitor just rang me to inform me a buyer in the chain has pulled out, my estate agent never bothered to tell me this however.
As I understand my buyers buyer has pulled out. Im told they person who wants to buy my house does still want it but they now need to find another buyer for their home. So my question is do I now wait for the person buying my house to find a second buyer or am I better off putting it back on the market just incase they take forever to find a new buyer or change their mind. Can the agent even keep my house at sold stc if my buyer is not currently sold themselves?.
I dont know how this all works really but i dont want to hang around ages and loose the house im wanting to buy.

Many Thanks

Lokolo

I am slightly confused.

You said you've sold your house, you said you've found a house to buy but you have also said you are at the end of the chain? You aren't from what I have read. You are in fact in the middle of a chain.

The second part, well you have still sold it. Your buyer has stated they still want to buy it and just need some time. If you put it back on the market then unless you get someone chain free then you're going to be in the same position with another buyer, they will still need to sell their property to someone.

Ms_Chocaholic

What are the plans of the sellers of the house you are planning to buy?

hazyjo

One in three falls through. The chain will either wait to be reformed, or it will collapse and everyone starts again.


It's entirely your decision - there's nothing we can say really. Either you wait, or you don't.


If I were in your shoes, I'd prob give them three weeks' grace and say unfortunately it'll be back on the market after that time, but hopefully they'll get a buyer and be able to buy it again if nobody beats them to it.


Also confused about the chain if you have at least two links below you and at least one above. You can't be at any end.

traybonoaholly

I was the end of the chain. There was a chain of 3, 1st house, then the house buyers eho are to buy my house (both of these were sold STC, then us, we were going to be the end of the chain, and we're buying a empty house hence no more chain if this makes sense.
The chain had fully formed and all houses had buyers, now someone has pulled out that was buying the house of my buyers property

traybonoaholly

The house I am busing is empty and has no chain so they will be wanting a quick turn around ideally, as we were the last to buy this wasn't an issue until someone further up pulled out

traybonoaholly

The house I am buying is a previous rental house, completely empty so just a landlord cashing in hence nobody behind me

LandyAndy

traybonoaholly wrote: »

The house I am busing is empty and has no chain so they will be wanting a quick turn around ideally, as we were the last to buy this wasn't an issue until someone further up pulled out

If you are the end of the chain, where are your vendors in the chain?

Slinky

You're not the end of the chain, the empty house is the end of the chain. The people selling it to you could also take the view they will put it back on the market.

Akahotpot

This happened to me I lost the buyer for mine and the seller of the house I wanted put theirs back on the market after giving me 4 weeks to find another buyer but said I would have 1st refusal as all the spade work had already been done
I found a cash buyer 2 weeks later and offered on the original house again and the chain is now formed again .....so far so good

westernpromise

At the moment your own buyer can't proceed, so neither can you. You need a buyer so I'd remarket it with the proviso that if they get their act back together you'll proceed with them.