How long do we wait for vendor to find onward purchase?

Thrugelmir

Scotbot said:

jenni_fer said:

I don't know what the market is like where you are, but for us, we aren't going to be allowed to physically view anything until ours has sold, and actually, typically, nothing suitable has come on the market since we put ours up so there is a very real risk whoever wants to buy ours will have to wait a little while for us to find something.

Same here you cannot view unless you are on the market but most vendors stipulate you must be  SSTC. Plus the market has been really slow to start up after Xmas presumably because of the lockdown  and uncertainty around the SDLT holiday 

Always takes time to warm up. Spring is when activity really picks up. 

Scotbot

Thrugelmir said:

Scotbot said:

jenni_fer said:

I don't know what the market is like where you are, but for us, we aren't going to be allowed to physically view anything until ours has sold, and actually, typically, nothing suitable has come on the market since we put ours up so there is a very real risk whoever wants to buy ours will have to wait a little while for us to find something.

Same here you cannot view unless you are on the market but most vendors stipulate you must be  SSTC. Plus the market has been really slow to start up after Xmas presumably because of the lockdown  and uncertainty around the SDLT holiday 

Always takes time to warm up. Spring is when activity really picks up. 

Hardly anything listed here,  3 to 4 properties in my saved search each day , would normally be st least 10. Anecdotal but it feels much slower and for the first time I have been leafleted by someone wanting a house in the area. 

AnotherJoe

Scotbot said:

jenni_fer said:

I don't know what the market is like where you are, but for us, we aren't going to be allowed to physically view anything until ours has sold, and actually, typically, nothing suitable has come on the market since we put ours up so there is a very real risk whoever wants to buy ours will have to wait a little while for us to find something.

Same here you cannot view unless you are on the market but most vendors stipulate you must be  SSTC. Plus the market has been really slow to start up after Xmas presumably because of the lockdown  and uncertainty around the SDLT holiday 

Not the  case in the area where i live and just as well or the market would stop. you just need to be on the market, not SSTC (with most obv there will be exceptions)

Also I'm not seeing the after xmas slowdown you are, I thought there would be, but although I'm now in a chain, I'm still on agents and similar lists, and am seeing lot of new houses coming on since xmas

Caramac

In theory when we put ours on the market at the end of May the EA said they would only show to people who were proceedable. In practice they accepted viewings from anyone. There was only a handful before we sold so we accepted it.

badger09

We put ours on at the very end of July. EA gave us the option of stipulating viewings from only SSTC, or allow those on the market, or basically allow anyone. We knew our house was not the easiest to sell, trusted EA to weed out the nosey day trippers, so accepted every viewing.

Eventual buyers were on the market when they viewed 15th Aug, went SSTC 24th Aug, did short notice 2nd viewing that evening & offered on 25th Aug. Better to have 10 viewings, than only 2 from proceedable buyers - subject to COVID, obviously!  

jenni_fer

OP - has your vendor found anything yet?
We accepted an offer on our property this week and now can't find anything on rightmove even worth viewing...getting a little anxious about how long we have before our buyers start to make noise.

tink_1983

jenni_fer said:

OP - has your vendor found anything yet?
We accepted an offer on our property this week and now can't find anything on rightmove even worth viewing...getting a little anxious about how long we have before our buyers start to make noise.

Hiya. They have found but the onward house has not.
Nothing else we like has come on market so we will wait till the chain completes but keep eye on RM just in case a dream property comes up.

Think a month and they will start to make noise.. depends what their backward situation is?

lookstraightahead

I made a noise straight away as I was bottom of the chain with nothing to sell and holding the chain together, as I previously moved into rented - so my turn not to be put out now! Only a small chain but our vendors vendor is going into rented (to stop the chain collapsing). I know they can still change their mind, but I will walk away if they do. I waited for confirmation before spending any money or instructing anyone other than absolutely necessary. Not going to hang around.

jenni_fer

tink_1983 said:

Think a month and they will start to make noise.. depends what their backward situation is?

Thanks, that's where we are too.
They are in rented with a contract til August I think and have family living a few doors away from us so I'm hopeful that they want *this* property and will give us enough time to sort ourselves out.