Reasonable Time for Vendor to Put in an Offer

trenewth

Hi,

I am currently going through a divorce. My wife and I put our house on the market and have received an offer, which we have accepted.
While the house was on the market, I was actively looking for houses to buy and to put an offer on. I had taken my children to see the houses, because I wanted them involved (it will be their house too). When we accepted the offer on the Monday, I had put an offer in for a purchase on the Thursday. It was accepted on the Friday. I had explained that I wanted as quick a sale as possible (as our buyers also want that). The vendors accepted that, but I have found out from the EA that they have not viewed a single property two weeks later. Searches in the area I am are taking 45 days minimum and my buyers (understandably) have all their searches done (in our area, the turnaround is 8 days!). I am considering pulling out. I love the house, but my buyers are on it and keen to move. I am also 'on it' and I have my mortgage agreement in place, but I am holding off on paying for the searches until I have confirmation that my vendors have an accepted offer on a property.
The market, as it is, is not in a place where you can act slowly, with the stamp duty extension ending on the 30th September. I am prepared to give the vendors two more weeks to find somewhere, or to pull out and find a no chain property, preferably. I am frustarted with them dawdling.

moneysavinghero

How would the EA know they have not viewed any properties?. They may not have viewed any with that EA but they could have viewed with other EA's.

[Deleted User]

So pull out then...? 

The market is still recovering from the pandemic in many areas, with little coming up for sale and all the decent properties being snapped up before people even have chance to view. 

Unless someone can wave a magic wand and conjure up a house for them to buy, you need to either wait patiently or find something else 

To be honest you are the kind of buyer that I dread being lumbered with when we come to sell. 

TBG01

And the estate agent knows they aren't doing online viewings or viewings through a different estate agent, yes?

It's great that you found your dream home in a matter days, but that's you. You can't expect the other side to do the same. If you're not happy with that then pull out and find someone who will match your timescales.

Thrugelmir

trenewth said:

 I am frustarted with them dawdling.

Pull out then. Personally I'd prefer to deal with a serious purchaser. Than one whose is flakey. 

fishfingerbutties

Deleted_User said:

So pull out then...? 

The market is still recovering from the pandemic in many areas, with little coming up for sale and all the decent properties being snapped up before people even have chance to view. 

Unless someone can wave a magic wand and conjure up a house for them to buy, you need to either wait patiently or find something else 

To be honest you are the kind of buyer that I dread being lumbered with when we come to sell. 

On this forum and other online forums I use this is exactly what is happening a lot. People selling quickly, but struggling to buy onwards as everything is selling quickly as so little coming to the market. 

I put mine on the market this week and had a viewing the same day as signed the contract, similar story. Couple had sold their property a month ago and were struggling to find somewhere to buy. 

If it bothers you that much OP, then either break the chain and move into a rental, or offer only on no onward chain properties. But even the rental market is steaming ahead some places and no onward chain properties are highly desireable because of the chain break. 

Or just be patient.

trenewth

There appears to be a misunderstanding from several people on this forum. There are literally thousands of properties coming on the market in the surrounding area to me and viewings are allowed. I am committed to a purchase. I got out there, got my mortgage offer and have done checking between EAs and solicitors. The vendor's EA has been in contact with them, because they obviously want them to sell their house to me. They are frustrated too as they are not actively searching. Quite how I am being described a 'flakey' is bizarre. If you are serious about a chain, you have to respect your buyers as I have done- by finding a house and moving forward. I am now going to break the chain and go for a non-chain house. My buyers asked if I would be willing to move into rented, I would to facilitate the sale. That is consideration.

amandacat

Your concerns are fair enough. I have been in this situation in the past, got a buyer, offer agreed on house I wanted to purchase, hung around for weeks for them to find a house and then they pulled out as they couldn't find an onward purchase.
Keep looking at other houses, no chain if you can.
Don't let the EA push you to go into rented if you don't want to. Mine did this to me and I am talking with a week of me accepting an offer and still viewing onward purchases. In the end I agreed to move into rented and couldn't find a rental property and had to move in with family. When I said to my EA what had happened, she laughed and said yes I am not surprised as we get 60 applicants within 24 hours of any rental we advertise. I pointed out that she was a little unfair to push me to agreeing to go into a rental when she knew I would probably not get one. My own fault for being too soft, as after 3 months with family, the situation is wearing a bit thin while I wait for my current house purchase to complete. If I could go back I would have found an onward purchase and not agreed to go into rented. 
The fact that the seller doesn't appear to be viewing isn't a good sign but it could be they haven't seen anything yet they want view. My EA was very impatient with me looking but I was very motivated and had asked for a period of 3 weeks to find a new property, which I thought was reasonable given I was relocating 400 miles away but I kept them updated on my plans and when I had booked to visit the new area and houses. If your seller can't give you confident they are motivated and looking for an onward purchase then definitely keep viewing other houses and keep this one on the backburner, in the meantime it could come good and they find something or you might find something else, in which case you can offer on that one, pull out of the other and explain you cannot wait any longer.

tellmeagain

A lot of EAs wont allow viewings if a person isnt proceedable..ie SSTC already...so it could be that your sellers can only now start a serious property search now that they have a buyer. If you really like the property i wouldnt act too hasty, give them some time, its a major purchase, and in some places there is not a lot of new properties hitting the market. I guess a lot depends on your timescales and how quickly you need to move, if you need a fast puchase then as other have said an empty property might be your best bet...just bear in mind that lots of other people like an empty property too...the shorter the chain the better for some buyers.

HampshireH

fishfingerbutties said:

Deleted_User said:

So pull out then...? 

The market is still recovering from the pandemic in many areas, with little coming up for sale and all the decent properties being snapped up before people even have chance to view. 

Unless someone can wave a magic wand and conjure up a house for them to buy, you need to either wait patiently or find something else 

To be honest you are the kind of buyer that I dread being lumbered with when we come to sell. 

On this forum and other online forums I use this is exactly what is happening a lot. People selling quickly, but struggling to buy onwards as everything is selling quickly as so little coming to the market. 

I put mine on the market this week and had a viewing the same day as signed the contract, similar story. Couple had sold their property a month ago and were struggling to find somewhere to buy. 

If it bothers you that much OP, then either break the chain and move into a rental, or offer only on no onward chain properties. But even the rental market is steaming ahead some places and no onward chain properties are highly desireable because of the chain break. 

Or just be patient.

That's the problem with EAs insisting you have to have sold before allowing viewings.

People are being forced to delay their sale while they find something they want or feel forced to settle for the sake of their buyer.

You used to be able to view properties when deciding to move and then market you place when offering. Makes much more sense to me especially as I'm the person whose next buy needs to be right as it won't be happening again for a long time after. 

Scotbot

trenewth said:

There appears to be a misunderstanding from several people on this forum. There are literally thousands of properties coming on the market in the surrounding area to me and viewings are allowed. I am committed to a purchase. I got out there, got my mortgage offer and have done checking between EAs and solicitors. The vendor's EA has been in contact with them, because they obviously want them to sell their house to me. They are frustrated too as they are not actively searching. Quite how I am being described a 'flakey' is bizarre. If you are serious about a chain, you have to respect your buyers as I have done- by finding a house and moving forward. I am now going to break the chain and go for a non-chain house. My buyers asked if I would be willing to move into rented, I would to facilitate the sale. That is consideration.

Lucky you, where abouts are you?I am lucky to get 10 properties a week listed that meet my search criteria (West Midlands) and plenty of other threads back up the lack of supply so it is not surprising that people see this as a limiting factor. But not all regions sre the same

Do you know why  your are vendors looking to move? That will give you an indication of how motivated they are to find somewhere. If they like their current property but are looking to move to the dream forever home they are going to be far more fussy about what they look at than someone who needs another room because they have another child or someone relocating for work.