We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
What would you do?
darlingdaisys
Posts: 30 Forumite
I'm after a bit of advice.
We're in the process of buying a property(part of a chain). The people from the property we are purchasing had an offer accepted on a property they wished to buy. 5 weeks in, they have been gazumped after paying for searches and surveys etc.
They have viewed a few properties but nothing is suitable for them at the minute and they are hoping some properties matching their criteria become available after Christmas.
We are in a position we're we need to have completed before stamp duty kicks in.
Would you in our position look for another property just in case they can't find anywhere or sit and wait it out in the hope something does become available after Christmas?
We're in the process of buying a property(part of a chain). The people from the property we are purchasing had an offer accepted on a property they wished to buy. 5 weeks in, they have been gazumped after paying for searches and surveys etc.
They have viewed a few properties but nothing is suitable for them at the minute and they are hoping some properties matching their criteria become available after Christmas.
We are in a position we're we need to have completed before stamp duty kicks in.
Would you in our position look for another property just in case they can't find anywhere or sit and wait it out in the hope something does become available after Christmas?
0
Comments
-
Stamp duty will hopefully be extended for those in process.
What properties are available for what you want to buy? Maybe have a look but don't be too hasty.0 -
DayDreamerandGeneralWaster said:
Thank you for your reply!Stamp duty will hopefully be extended for those in process.
What properties are available for what you want to buy? Maybe have a look but don't be too hasty.
There are currently 2 properties for sale that tick all our boxes. I don't want it to get to February and they haven't found anywhere!
0 -
You could ask them to break the chain and go into rented.3
-
Do you have an idea what the6ate looking for? If it's quite specific it wouldn't hurt to have a look at these other properties that tick your boxes.0
-
It needs to be at least 4 bedrooms and within walking distance of a few things!Do you have an idea what the6ate looking for? If it's quite specific it wouldn't hurt to have a look at these other properties that tick your boxes.
Going to see if I can view the 2 that are on the market for us but they will be snapped up quickly 🙈
0 -
If you don't have a complete chain yet then I don't see you completing before the end of the SDLT holiday.Obviously no-one knows yet but my opinion is that there will be no extension.2
-
It might be, but I wouldn't be remotely confident about it. Stamp duty has never previously regarded "in process" as being a thing.Stamp duty will hopefully be extended for those in process.8 -
That's my thoughts. If we were to put an offer in another property that has no chain attached, we may just be able to avoid stamp duty?Slithery said:If you don't have a complete chain yet then I don't see you completing before the end of the SDLT holiday.Obviously no-one knows yet but my opinion is that there will be no extension.0 -
I agree.davidmcn said:
It might be, but I wouldn't be remotely confident about it. Stamp duty has never previously regarded "in process" as being a thing.Stamp duty will hopefully be extended for those in process.I suspect they might extend it for a month to try and help people over the line but not encourage many more new transactions into the bargain.Everything that is supposed to be in heaven is already here on earth.
0 -
I’d have a word the the estate agent. Say you have a firm deadline for completion, and while you’re happy to give the vendors until the second week of January to find somewhere they like, you’d like them to be asked if they’d be prepared to break the chain and rent if that does not happen. If they say no, start looking. If they say yes you’re getting somewhere.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.9K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards