Dream home

Slips36

I’m very depressed and having sleepless nights has I’m in serious trouble of not getting my dream home has it looks like my house buyer is going to pull out. It’s been a long over 12 weeks conveyancing process. I am very close on my sale side with contract all sent back but purchase is stuck over enquires and my house buyer is getting fed up with waiting.
I have tried to push the licensed conveyancer but the truth he doesn’t seem to care.
i will be gutted if I lose the dream home.
my present home took ages to sell over 4 months has its 2 bed and they seem to take ages even though I had it under market value. 
how do you get over it?

Slithery

Sell now and move into rented until your purchase completes?

Slips36

I could but short term rental is usually 6 months minimum it’s probably about 2 weeks to get to completion on the purchase.
i sold my first house 2 years ago and rented for a year and was costly and not very pleasant so I’m sure my wife and daughter will definitely don’t want to rent again.

davidmcn

Slips36 said:

I could but short term rental is usually 6 months minimum it’s probably about 2 weeks to get to completion on the purchase.

Air BnB or similar then? 

Angela_D_3

A house is 4 walls and a roof tyat stops you getting  wet when it rains.  Stop with the “dream” nonsense for a start,  that’ll preserve your mental health.  

ohdarn

It's a tricky situation to be in.
I suppose it depends on how much spare money you have.
Going into an air BnB or suchlike might be fine, but if your conveyancer is as crap as you say, then there's no guarantee it'll be just two weeks.
Then you could be paying out large amounts for a house and storage costs for all your goods.
Of course it could go your way and you'll sell yours and only stay in rented accommodation for a week or two.
We've recently decided that we're going to stop talking to our conveyancer as getting a coherent response from them is becoming increasingly difficult.
Instead we'll try getting our estate agents to do the chasing work as they'll be able to negotiate up and down the chain on our behalf, including your own conveyancer.
Is that something you might be able to try?

Slips36

What are the chances my buyer would simply get fed up with waiting and pull out?
He is first time buyer so no worries about stamp duty but his mortgage offer may soon expire as my house was surveyed in Oct. it’s fairly close but the conveyancer received replies to enquires from the sellers last Tuesday but only started reviewing this Monday.
He than required more information to the enquires. I really want to get at least to the contract and possibly exchange late next week. They have excellent reviews on trust pilot but they are awful with communication and just sit on paperwork for week before dealing with it.
Very stressful position to be in.

macman

He might, he might not. We don't know and neither can you. It's beyond your control and so pointless stressing over it. 12 weeks is not atypical at all, some LA searches are currently taking  6 or 7 weeks alone. Lockdown reduces the volume that conveyancers can process, and demand is exceedingly high. 

Davesnave

Slips36 said:

how do you get over it?

I think you do it the same way as the other 30% of people whose transaction goes south.

Losing a sale and onward purchase is a common event. We found it can strike more than once.

Usually, you don't get over 'it.' You have to get over yourself. Once that's achieved, the rest follows naturally.

Personally, I found the only c0ck-ups I couldn't get over quickly were mine. Other people's mistakes, shortcomings and deceitfulness were soon converted into a shrug or two. Self-flagellation, while useful as an aid to learning, isn't productive long term and other people find it  tiresome.

pbhb

I have cried over two 'dream houses' in the last 6 months. Since July both fell through. I am now getting ever closer to completely on the third house which is actually better in all aspects than the houses I thought were perfect. If this falls through, you will find something better. conveyancing is taking a long time for everyone, its not just your conveyancer, how many other houses is he trying to push through? They are crazy busy at the moment. It has taken me 15 weeks just to get my searches back, house buying requires a lot of patience

Davesnave

pbhb said:

 If this falls through, you will find something better.

This is what almost everyone says, but it's not necessarily true.

You or I have no way of knowing whether a house we failed to buy would have been 'better' or 'worse.' We only know things would have worked out differently.