Vendor has two properties for sale and won't proceed until both sold

Marvel1

If it's been 4 months and nothing has started, I would start looking at others.

mcmart

Marvel1 said:

If it's been 4 months and nothing has started, I would start looking at others.

you're probably right. I wasn't too bothered as everything ground to a halt everywhere however things are moving again now  

mcmart

steampowered said:

It's very odd. Trying to sell two properties at the same time will greatly increase the chances of something going wrong or there being a long delay.

The vendor is not proceedable right now. I'd keep the offer on the table just in case - but I'd keep looking !!!

yea I'm kind of sideways latched onto another potentially compacted chain, which is worse than a normal chain!

mcmart

diggingdude said:

Keep the offer on the table (I hope you have negotiated a discount to wait and the estate agent is keeping you up to date on the sale of other house - perhaps weekly email with viewings)

At the same time, I would start looking for another property which is genuinely likely to complete in 2020

thing is I didn't get as good a deal as I would have hoped (still fairly happy with the price and under asking) as it was pre Covid, the market was moving and it was a place I fell in love with as soon as I walked in the door after 4 months and countless 'meh' viewings. As for updates, you're right I need to put more pressure on as there have only been two vague updates and I've had to chase!

prowla

Tell the vendor the other property is none of your business and you are ready to proceed or walk away.

eidand

I would take a hard stance on it. Either proceed asap with the property you want to buy or walk away.
The fact that the vendor has 2 properties to sell does not interest you in any way and why should you have to wait for two chains to complete?
You will probably miss the stamp duty holiday with this complex situation.

mcmart

prowla said:

Tell the vendor the other property is none of your business and you are ready to proceed or walk away.

that seems to be the general consensus, cheers!

mcmart

eidand said:

I would take a hard stance on it. Either proceed asap with the property you want to buy or walk away.
The fact that the vendor has 2 properties to sell does not interest you in any way and why should you have to wait for two chains to complete?
You will probably miss the stamp duty holiday with this complex situation.

that's my concern... if it drags on for a few more months and then falls over towards Xmas I'll miss the March deadline. I was prepared to wait given the covid situation but the more I think about the complexity of the chain I'm losing interest rapidly. Thanks for your input 

getmore4less

Which one are they living in?

if living in the flat you are  buying that makes that  sale dependant on the other one selling,  but not the other way round.

either rented  needing  to get a tenant out?

Keep looking ( i think you should never stop looking till exchange)

Scotbot

Was about to say the same thing, if the vendor is living in the property you want to buy it makes perfect sense they need both to sell as they presumably need money from both sales for the next purchase.  If tenanted then there is the issue of the tenant leaving, this is taking longer post covid and I would ask for an update on when the tenant is leaving as this will delay the sale . Either way there are legitimate reasons for the delay which could be lengthy and you have to wait so keep looking.