Selling dilemma

jimmyca69

Keen to get a wider opinion on our current situation.

Bit of background, current house lovely only thing we would improve on is view and garden size, rest is spot on. We have kept an eye out for the last 18 months on properties coming up but nothing that has tempted us. Around 4 weeks ago a house in same estate as ours came on the market which was slightly bigger with larger garden and views, went to see it offered near to asking but was rejected as not proceedable. We then went to asking but again rejected but that if ours was on market and had interest they would accept, instructed a local agent to put ours on market and the day it went online (2 weeks ago) we were told by the seller the house we wanted had accepted an offer

Agent advised us to leave it on the market as other house sale could fall through, 2 weeks later we have had 10+ viewings and a few offers, latest one pretty much asking which we would be inclined to accept. As the other house was for sale via Purple Bricks we had a line of communication with the seller and they have kept us updated for the last few weeks. However today despite some reservations, they have said the sale is progressing and so unlikely to be an option.

We now need to make a decision on whether to accept the offer on our house, but being honest with them on fact there is nothing currently on market we like and also that we would be unwilling to go into rented accomodation or stay with family/friends.
Or that we pull it off the market and wait and see what else comes on, if anything.

Any thoughts on the above? Some people say that it is normal to sell your house and then look for others but also given fact last 18 months only 1 house has tempted us, we dont want to waste other people's time and money.

Would welcome feedback

RubyHouse

It doesnt sound like you want to move, only that you being pressured in the hope that you find something better. So whats the point?
I wouldnt move into rented whilst your looking as you already have a home that you love. Yes, there is no harm in looking but you seem happy where you are until something better comes up.

What if you sell your home and nothing becomes available for another 18 months? In the meantime, you've lost your original buyer through impatience, another buyer has threatened to pull out so you panic buy something else that you are never going to be happy with??

It sounds like you are very happy where you are, shame the the vendor wouldnt accept your original offer but

jimmyca69

RubyHouse wrote: »

It doesnt sound like you want to move, only that you being pressured in the hope that you find something better. So whats the point?
I wouldnt move into rented whilst your looking as you already have a home that you love. Yes, there is no harm in looking but you seem happy where you are until something better comes up.

What if you sell your home and nothing becomes available for another 18 months? In the meantime, you've lost your original buyer through impatience, another buyer has threatened to pull out so you panic buy something else that you are never going to be happy with??

It sounds like you are very happy where you are, shame the the vendor wouldnt accept your original offer but

We are keen to move, but like you say only for something better and that's why we have kept an eye on the market. This house ticked our boxes but obviously not meant to be. There is a chance something else will come on the market and we don't want to be in a position where we miss out again, but not sure that the potential buyer will like that scenario...

hazyjo

You could always rent for however long it takes. Bit unsettling, but would solve your prob. Choose something with a 6 month break clause. Might mean you overlap with rent/mortgage for a handful of months. (Takes around 3 months to buy.)

Davesnave

jimmyca69 wrote: »

we would be unwilling to go into rented accomodation

Then you might go through this scenario several times.


Like you, we were looking for something very specific, and having seen how often it just didn't appear, we rented. It took 9 months, but we were ready to act when it did.


The circumstances of that sale were specific too, so if we'd diddled-about, trying to sell, the owner wouldn't have given us the time of day. She wanted out, fast, and was prepared to go at a low price to do it.


People who want something enough, go out of their way make it happen.

hazyjo

hazyjo wrote: »

You could always rent for however long it takes. Bit unsettling, but would solve your prob. Choose something with a 6 month break clause. Might mean you overlap with rent/mortgage for a handful of months. (Takes around 3 months to buy.)

PS seen the quote in the post below my other one taken from your OP - missed you saying you wouldn't. Do get what you're saying, I have said it myself, but in this sort of flat market I would consider it as an absolute last resort. Would absolutely pain me to do it though as I'm a worrier and I like to be settled, plus I have 2 cats.

TamsinC

Most sellers won't accept an offer unless you are proceedable (i.e. your house has sold) so unless you are willing to go into rented I don't see you being able to get what you want. What you want is very specific, rarely on the market from what you are saying so when one comes up you need to be able to act fast. You cant do that if your house isn't on the market itself. Unless you are able to facilitate two mortgages at once until your own house sells.

Davesnave

hazyjo wrote: »

Would absolutely pain me to do it though as I'm a worrier and I like to be settled, plus I have 2 cats.

We had 2 cats.....and 2 ferrets! :eek:

But the words: "If you do what you always did, you'll get what you always got." rang so true to us. It was the sig of a friend on MSE.

I admit it was at a time when one could get 6.5% on money in the bank, so renting didn't cost us a bean, but I'd do it again now if I was selling and stuck for a purchase.

Hoploz

You never know. I think I would explain the situation and see what the buyer wants to do. They may love your house so much they are willing to wait as long as it takes (after all if prices are going up they could end up with a bargain!)
They may agree to give you say two months to look then they will review. Something might come up that you wouldn't know about if you weren't under offer ... Agents show proceedable buyers things before they show it to the open market.
They may say they are happy to leave their offer on the table but continue to look ... They may or may not find something else and withdraw in future.