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FTB - waiting for seller to move out

EmmaJane3
Posts: 8 Forumite
Hello,
i am a first time buyer (we are not selling a house nor are we moving out of rented accommodation) and had the offer accepted in October 2018. When we put the offer we were informed that the seller was buying a new build and i checked first that it was in fact built, we were told it was built and mainly just needed finishing touches and would be no longer than 12 weeks. We have done everything at speed, signed everything quickly, provided information when it was asked for, had our survey done quickly etc. We were fine with waiting till after Christmas and were told it would be the first week in January it was due for completion. Well this came and went and we were no closer. we have as far as i am aware signed everything we need to and had our mortgage offer and us and our solicitors are prepared to complete. We have now been informed it will be the 1st March the new build is due to completion. Where do we stand with asking for a more exact and possibly sooner date? i know the sellers are frustrated as well but nobody seems to be forthcoming with information.
as mentioned we are not being kicked out (living with parents) but as FTB we are ready to get in, all packed and ready to go.
Any advice appreciated.
i am a first time buyer (we are not selling a house nor are we moving out of rented accommodation) and had the offer accepted in October 2018. When we put the offer we were informed that the seller was buying a new build and i checked first that it was in fact built, we were told it was built and mainly just needed finishing touches and would be no longer than 12 weeks. We have done everything at speed, signed everything quickly, provided information when it was asked for, had our survey done quickly etc. We were fine with waiting till after Christmas and were told it would be the first week in January it was due for completion. Well this came and went and we were no closer. we have as far as i am aware signed everything we need to and had our mortgage offer and us and our solicitors are prepared to complete. We have now been informed it will be the 1st March the new build is due to completion. Where do we stand with asking for a more exact and possibly sooner date? i know the sellers are frustrated as well but nobody seems to be forthcoming with information.
as mentioned we are not being kicked out (living with parents) but as FTB we are ready to get in, all packed and ready to go.
Any advice appreciated.
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Comments
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It can be frustrating waiting but it is out of your hands. Just try to think of the money that you will save while at your parents. After all you will be living in your new home for years to come what’s a few more months at home.0
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Thanks for your response.
I am trying to remain positive etc and we are very lucky that we are not being forced to move out or anything.
But the question at the end of it all is how long is too long to wait0 -
Only you can know the answer!
Why not start looking at other properties?If a nice one comes up, switch. If it doesn't, wait tillMarch and move into this one.0 -
Buyers of new builds are normally expected to exchange contracts within 28 days of reserving the property - with completion on notice (i.e. to be advised later).
And therefore, they would normally want you to exchange contracts with you at the same time - perhaps with completion on notice.
So how are things working in your case? Have you exchanged contracts?
If not, how do your seller and the builder they are buying from intend to structure things?0 -
If I were you I'd look at this as an unexpected opportunity to start rebuilding your finances/emergency funds :-) Every month which goes by, is another month you can keep saving.
I completely get the excitement of moving into your first home - myself and my girlfriend (now wife), moved into our first home 3years ago - the wait was unbearable!
HOWEVER - the following months were also some of the most stressful as we got to grips with the house. Buying a 2nd hand house, you will always discover "interesting" DIY from previous owners which needs rectifying. You will uncover issues, some big, some small, which will need fixing, which weren't apparent to you when you viewed the house.
You will also want to decorate and put your own touch to the house - even things like replacing the curtain rails (if needed) & getting new curtains can set you back around £100 per window.
Bottomline: The first few months of moving into your new home will be among the most costly. On top of that, you then have the added hassle of getting to grip with the various utility bills & council tax, something which can be daunting if you ve never lived independently before.
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When myself and my wife brought our place, we stretched ourselves to breaking point to get the house we wanted - we had an emergency fund, but that was for emergencies only - in terms of the "Nice to have but not essential" bits which come with moving into a new home (Decorating, new curtains, new housey bits etc...), it was a real struggle to afford the things we wanted initially.
An extra 2 or 3 months of living at home with our parents and topping up our savings would have made an incredible difference - both in terms of making the house "ours" sooner - and in terms of the enjoyment/less stress we would have had doing it.
I ompletely get your frustrated - but instead, look at the positives: The extra time will allow you to save & then afford the "extra" things for your new house which if you d have moved into it on time (January), you probably wouldn't have been able to afford :beer:0 -
Hi Emma. Another positive as the weeks tick by the days get longer and warmer.
That means more daylight for moving in and settling down, and lower 1st heating bills.
The 1st year of living in a house you will find your hand is rarely out of your pocket as you buy those things you need, and there will be something believe me.
On a fun note I knew someone who didn't realise they had no pegs till they had done their 1st load of washing, fortunately a neighbour came to the rescue.
The wait will be worth it believe me, as others have said more time to save up.Find out who you are and do that on purpose (thanks to Owain Wyn Jones quoting Dolly Parton)0 -
We had our offer accepted early October like you. Mortgage approved, queries resolved quickly. We were due to complete mid Feb. Continuously told that the lady had to move quickly due to her health. Even when mid-Feb arrived still being told end of Feb.
Didn't get key until last day of April.
Like everyone else has said, relax and enjoy saving more money, not having to pay off the mortgage, getting in once it's lighter and warmer, etc.
You have no urgency. So long as you feel everything is moving with their onward purchase (albeit slower than you would like) you don't have too much to worry about.
Good luck!! Enjoy your first home.0 -
...we have as far as i am aware signed everything we need to and had our mortgage offer and us and our solicitors are prepared to complete.We have now been informed it will be the 1st March the new build is due to completion. Where do we stand with asking for a more exact and possibly sooner date? i know the sellers are frustrated as well but nobody seems to be forthcoming with information.
You haven't exchanged contracts - it may all suddenly cease to happen, and nothing is happening. You haven't got any legal commitment to buy, nor has the vendor got any legal commitment to sell. Setting the completion date is part of that commitment.
Have a look at some of the threads from people in your vendor's position - they're gagging to move in, but being told nothing by the developers. I bet if developers posted here, there'd be similar threads about how they wanted to complete, but were delayed by things outside their control...as mentioned we are not being kicked out (living with parents) but as FTB we are ready to get in, all packed and ready to go.
Any advice appreciated.
You can wait. You have no hard deadline pushing you out. You are in the best possible position for this kind of delay.0 -
note to self: buy pegs!!0
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thanks everyone!!
i know i need to stop worrying and we are so lucky my parents are letting us stay until we can move in. We will continue to save.0
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