New build ready sooner?

Nervouslywaiting

Hi everyone 
We are currently waiting to exchange in a chain where our vendor is buying a new build. She has been told by the builders that her home should be ready 'end of July/early August' but currently they can't be more specific than that. 
What are the chances of this being brought forward and them finishing earlier? I'm reading a lot of stories about delays but not a lot about people managing to get in their new builds quicker than was originally anticipated. 

The reason I ask is because our buyer is becoming really impatient with the waiting and I'm getting nervous that he will pull out 🙈 I've never been in a chain before never mind had anything to do with the purchase of a new build so I suppose I'm saying... do I reside myself to the likelihood that our vendors new property will be done end of July at the very earliest, or is it not unheard of that sometimes these things can move more quickly? 
Thanks for any replies/experience in this area. 

kasqueak

How long is a piece of string? 

It’s one of those questions that no one can really answer and it’s a stress most people
go through when moving as there is a chain. 

If your buyer wants your house they will wait for it. I’m assuming they know they are part of an upwards chain so they just have to wait for the chain to be ready. 

Yes sometimes new builds can be completed earlier than anticipated but they can also take longer. If you know the development the new build house is being built on maybe you can call them posing as a potential buyer asking when they expect certain phases to be completed. 

Good luck with it all! The waiting is the worst!

Nervouslywaiting

Thanks for your help. 
Yes we hoped he would wait but he has threatened to pull out 3 times now demanding a completion date. His own solicitors have advised him he is being silly but this does not seem to stop him putting us through the stress of this almost weekly. 
We've told him this week that if it happens again we will put the house back on the market as I can't cope with the worry of him pulling out. There hasn't even been any delays yet so I can guess his reaction if there are any in the pipeline 😩

AdrianC

If they're looking at it being ready in two-three months, then I assume the build is fairly well advanced already.

It's unlikely to move forward much, but it may still slip, especially if things go backwards pandemic-wise. Manpower and materials could delay things.

SMR710

You could break the chain by selling yours before your ongoing purchase is ready, but that is only possible if you can bridge the gap by staying somewhere or a short term let..
Our new build was supposed to be ready Jun/July 2019... it was completed in Aug 2020! You can never trust a builder!!!! If you're really worried that your buyer will pull out, break the chain if you can.

Mickygg

Mine slipped by 9 months. I think I was given every excuse possible as to why. 

bramptonbrew

The developers will need to book the NHBC inspection for the property, and in my experience they only do that when there's a firmer idea on completion. Then if it passes, the developer issues the two week notice to the buyer with an exact completion date.  So if your buyers can find out if/when the NHBC will be booked, that might give you a bit more of an idea on the timeline.

(source: We are moving next month, our inspection is booked for 10th June so if it all goes to plan, we will complete on 24th June.)

Nervouslywaiting

Thanks everyone, some good advice! 👍

Racky_Roo

Was your buyer not aware when purchasing you couldn't complete until that date? If so, then that's their issue they have become impatient. If not, then you should have made it clear as soon as you knew that.

My new build was delayed by 2 months and when I purchased it was quite far on but there was a backlog for building control sign off which contributed a month to the delays and then also sourcing materials was an issue which I believe is still ongoing due to Covid/Brexit etc

Nervouslywaiting

Racky_Roo said:

Was your buyer not aware when purchasing you couldn't complete until that date? If so, then that's their issue they have become impatient. If not, then you should have made it clear as soon as you knew that.

My new build was delayed by 2 months and when I purchased it was quite far on but there was a backlog for building control sign off which contributed a month to the delays and then also sourcing materials was an issue which I believe is still ongoing due to Covid/Brexit etc

When they bought our house, we had not yet found one (which they were fully aware of). As soon as we found one and were told that the vendor was waiting for a new build, we informed our buyer. Our buyer seemed happy at first, then week by week became more and more impatient. Our buyer is constantly hassling their own solicitor, my solicitor and the estate agent but no one can tell them anything new as we don't have any further information yet. The buyer threatens to pull out, so we ask for them to make a decision, they always then return and say they wish to continue, but a week later, we're back to the same scenario. 

Nervouslywaiting

AdrianC said:

If they're looking at it being ready in two-three months, then I assume the build is fairly well advanced already.

It's unlikely to move forward much, but it may still slip, especially if things go backwards pandemic-wise. Manpower and materials could delay things.

It is well advanced as far as I'm aware. Fully built - kitchen was fitted this week apparently.