Offer accepted on house but sellers wont move

Benzine

I agree that 12 weeks is a long time. Unfortunately different people have different ideas and it may not seem unreasonable to the seller. The seller might be waiting for a perfect property and if their house is as nice as you say, they may feel they will easily find another buyer if their sale falls through and so wouldn't ever consider renting for a while. 

You either have to decide to wait it out and live in limbo for a while or start looking again and inform the vendors you are doing so. 

swingaloo2

If it the perfect house for you then hang in there as even if you look round and find something else you are back to the start of the process so will still be way off moving.
Im way over 12 weeks and I am a cash buyer with nothing to sell and the house Im buying is empty.  Nothing in the world of house buying/selling happens quickly unfortunately.

NameUnavailable

imamutant said:

Hi all,
First time buyers here and we had our offer accepted on a house about 12 weeks ago now. Its an amazing property and we actually went above asking price. Since have the offer accepted, nothing has happened. We have our solictor and are ready to move, but he has said until the memorandum of sale comes theres nothing that he can do. And we can't get the memorandum of sale until the seller has found a new property. We have asked if the seller can go into rented in the meantime so we can get the ball rolling, the estate agents asked him and he has said this is not an option. It's taking far too long and we cant wait around forever. Any suggestions or advice on what we can do ?

You don't know how serious they are about moving, they might be waiting for the 'perfect' property which of course never exists. In the meantime other places you could buy will come and go.

However the market is going to drop soon so you might get more for your money if you wait a while longer and they still haven't found a place.

Alternatively think outside the box. If you can afford to offer them a 'bonus' payment if they agree to proceed and exchange asap (bonus towards them renting to vacate).

GDB2222

Rambosmum said:

Find another property or wait it out. That is really the only option. As a seller, it can be really frustrating trying to find your next property, you can't offer until yours ids under offer (well you can but it is very unlikely to be accepted) and as you go up the chain there are fewer houses on offer. 

Asking them to go in to rented is a real pain and I can see why they don't want to. We've been asked that and my reasons for saying no are:

- we need to port our mortgage, going in to rented would mean paying an early repayment fee, I'd prefer not to sell
- we have kids and pets, it can be hard to find somewhere who will rent to us 
- minimum tenancy is 6 months, if I find my ideal property the week we move in, I'll have to pay rent AND mortgage, even if I could afford this, it is hardly ideal
- I have kids, I don't want to unsettle them by moving twice in a short time period. 
- changing address on every thing (banks, car insurance, utilities, school, work) etc is a PITA and I don't want to do it more than necessary
- 2 lots of moving costs, could be £1000 each time depending on how big the house or move it. 

As a FTB you have no buyer to keep happy, you are probably in rented and have no need to move out urgently (this is a generalisation, not specific to you), you aren't being evicted. You can, and should wait. Obviously not forever but certainly a few more weeks. Especially at this time. 

Have you had your survey? You may want to get that done in case you need to get quotes for work or want to pull out. 

I agree with all this, except the last paragraph, encouraging the OP to get his survey done. I ever so strongly suggest that the OP does not invest any money at all in this property until the seller has found somewhere to move to. The seller or his agent is saying the same by refusing to issue the memorandum of sale at the moment, so the OP won't spend too much on legal fees.

Marvel1

I would keep looking.

trenewth

My house is being sold due to divorce. Our buyers want a quick sale and we are on board with that. They want to buy, we want to sell. Within four days of an offer being made on my house, I had made an offer on another house, as I was actively looking and I want a house to live in. A month later, I find that my vendors have not begun looking for a house yet. I have searches done, mortgage offer etc. and I am ready to go. The sad thing is that there are people out there who will mess you around and not actually fully commit to an onward move, endlessly looking for their dream 'forever' home. Pull out. You sound like you have put a huge effort for no reward and are considerate buyers. You deserve better. These vendors don't.

Davesnave

trenewth said:

 Pull out. You sound like you have put a huge effort for no reward and are considerate buyers. You deserve better. These vendors don't.

 Did you realise this thread is 8 months old now?
DEAD THREAD WARNING

pinkteapot

trenewth said:

My house is being sold due to divorce. Our buyers want a quick sale and we are on board with that. They want to buy, we want to sell. Within four days of an offer being made on my house, I had made an offer on another house, as I was actively looking and I want a house to live in. A month later, I find that my vendors have not begun looking for a house yet. I have searches done, mortgage offer etc. and I am ready to go. The sad thing is that there are people out there who will mess you around and not actually fully commit to an onward move, endlessly looking for their dream 'forever' home. Pull out. You sound like you have put a huge effort for no reward and are considerate buyers. You deserve better. These vendors don't.

START YOUR OWN THREAD. THIS ONE IS OLD.