how long to move out after accepting an offer?

hb2

It took our vendors the best part of 4 months to find somewhere to buy (that took us over Christmas when the market was comparatively 'flat'). We waited because we wanted the property, our buyers waited for the same reason.

ThePants999

spadoosh wrote: »

I dont do legalese, as far as im concerned if i go to a cafe and use my card to pay for it, from the moment my card has left the machine i consider the coffee to be mine. Contractually it is, physically it might not be if its not been made yet or the server refuses to give it to me.

If you "don't do legalese", don't use the word "formally"!

Unlike in your coffee example, at exchange of contracts, you haven't paid. A better example is winning an eBay auction. At the point you win an eBay auction, the seller has contracted to sell the item to you, but that doesn't yet make it "formally yours". If they wind up not posting it, you're legally entitled to your money back, but you wouldn't have much luck getting the police to arrest them for theft.

vw100

At exchange of contracts usually upto 10% is paid as a deposit, with penalties if decide to come out of the contract from either side.

You may want to force the seller to hurry up by threating to pull out of the purchase - might work, might not. Then again someone else may come along who is not in a hurry and can wait.

steampowered

Time to start looking for something else. Let the sellers know you are doing that.

It is not uncommon for people to still be looking for a suitable property a year later. Especially if they are waiting for a "perfect" property.

suiyat`

lisyloo wrote: »

suiyat - did you ask if the seller would consider going into rented accomodation. Most people are going to say no, but you can ask.

Apparently, cannot afford to rent a house. The seller intends to use the money from the sale to buy a house outright apparently.

suiyat`

Many thanks to your feedback.

Bit of a !!!!!! really. The seller's situation is a bit of a mess, forcing the house sale, but usually, a prudent seller would be looking for a house whilst their own is on the market I would have thought.

The threat to pull out is a bit tender also, as apparently there is still plenty of interest in the house according to the estate agents.

timefortea

I waited just over three months for my sellers to find somewhere, then that fell through after a month of surveys and solicitors, and it took another month for them to find somewhere else. In total it was just over six months from offer to completion. I loved the house so I wanted to wait for it, but if it had been a year or even longer I might have felt differently. You have to weigh up how much you want that particular house vs. all the other houses that come onto the market, and how long you can bear to wait. In retrospect six months doesn't sound like a long time, but when you're in the process you have no idea how long it'll take, or whether they'll pull out altogether, and you're desperate for any signs of progress. It is stressful.

[Deleted User]

It all comes down to how much you want the house and how long you are prepared to wait for it. Put yourself in your sellers shoes and think if you had sold and were looking for your new house, how long would you feel is acceptable to keep your buyers waiting?

Bear in mind that Nov/Dec is a quiet time for housing with not much coming onto the market as people don’t want to sell just before Christmas. They could quite be just as frustrated about it as you. Maybe if you could have a chat with them to ask how they are getting on you’d be able to get a feel for whether they are genuinely struggling to find anything decent or just have such high expectations and are waiting for their dream home to come along.

suiyat`

Panic over. Seller has found a property with no chain and it all should go through by Mid March.!

hazyjo

suiyat` wrote: »

Panic over. Seller has found a property with no chain and it all should go through by Mid March.!

Rather optimistic, but doable. Good luck.