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

mcmart

getmore4less said:

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)

don't think they have tenants in either and as far as I'm aware. Yea there's a lot more properties coming on the market now so will keep my eye out!

mcmart

Scotbot said:

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.

I get that they need to sell both to fund the new place (which I was told was a new build and thinking about it now the housebuilders won't wait forever!)... I just find odd that they wouldn't want to get one done, live in the other for a bit. It's a mission to get one bought and sold in a simple chain without hoping that the timing all lines up for TWO sales and a purchase. That being said I have no idea of their reasoning for wanting to do it this way and it's it's none of my business!

AW618

mcmart said:

Scotbot said:

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.

I get that they need to sell both to fund the new place (which I was told was a new build and thinking about it now the housebuilders won't wait forever!)... I just find odd that they wouldn't want to get one done, live in the other for a bit. It's a mission to get one bought and sold in a simple chain without hoping that the timing all lines up for TWO sales and a purchase. That being said I have no idea of their reasoning for wanting to do it this way and it's it's none of my business!

Maybe if they can't sell both, they want to keep both.  One can think of a number of reasonable reasons for doing this; and they are being straightforward and telling you the situation, so you really just have to accept it and choose whether you want to get involved or not.

mcmart

AW618 said:

mcmart said:

Scotbot said:

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.

I get that they need to sell both to fund the new place (which I was told was a new build and thinking about it now the housebuilders won't wait forever!)... I just find odd that they wouldn't want to get one done, live in the other for a bit. It's a mission to get one bought and sold in a simple chain without hoping that the timing all lines up for TWO sales and a purchase. That being said I have no idea of their reasoning for wanting to do it this way and it's it's none of my business!

Maybe if they can't sell both, they want to keep both.  One can think of a number of reasonable reasons for doing this; and they are being straightforward and telling you the situation, so you really just have to accept it and choose whether you want to get involved or not.

true