Offer accepted but vendor won't move until found a property

middleclassbutpoor

I wonder how many viewings the vendor has done since accepting the offer......

Sibz

actually go back with an offer saying you look forward to the sale progressing whenever that may be and put in a clause that you will not release the funds to him until whenever you feel like moving into his house after that date.

chickens11

He sounds like a complete waste of time , if hes messed the other buyers about then he will do the same to you , I personally dont really think he wants to move at all.......Dont waste your time waiting for him hes full of BS.....

mpr87

I'm also a FTB and if I were in your position, I'd be looking for other properties. This Vendor sounds like an absolute waste of time. It may be your "perfect house" but it sounds like he know's it and is pulling at your heart strings. I'm sure if you keep your eye's peeled something just as good if not better will come up with a Vendor who isn't going to waste your time and cause extra stress.


Maybe keep your offer on the table and keep looking in the meantime but I certainly wouldn't be spending any money on fee's etc until you know he's serious.

steampowered

The vendor cannot give you a timeline, because he hasn't found another property yet.

He might find another property tomorrow. Or it might take him 10 years.

As he has not found a property in >10 months, that suggests it will probably take him a long time to find something he likes. He is probably looking for something "perfect" at an unrealistic price.

I think you should start looking at other properties. On the offchance that your vendor finds another property, you can move ahead. Otherwise, you should proceed with another property.

diggingdude

I think you have to accept this house is not for sale and move on

getmore4less

A bit of backstory: my partner and I put an offer on a house (asking price) that was accepted. The bank valuation said that the house was worth £5k less, but the vendor says he needs asking price in order to be able to afford a new property. We are really in love with the house so we are borrowing this money from parents........

What does your lender think about that?


Shame you started throwing money at this before it is proceedable

Keep looking.

gmh

getmore4less wrote: »

A bit of backstory: my partner and I put an offer on a house (asking price) that was accepted. The bank valuation said that the house was worth £5k less, but the vendor says he needs asking price in order to be able to afford a new property. We are really in love with the house so we are borrowing this money from parents........

What does your lender think about that?


Shame you started throwing money at this before it is proceedable

Keep looking.

I say borrow, it was more of a gift with no obligation to pay back.

As far as I know, the bank knows - the broker informed them that we were proceeding despite this valuation so can only assume that they know we have gotten money from somewhere.

No money has been thrown anywhere as of yet - the valuation was free and no solicitors proceedings have begun.