New build ready sooner?

amyr

Nervouslywaiting said:

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. 

Feels like an empty threat. If he pulls out at this stage, the chance of him being able to find and complete another sale before July is surely slim! 

It's very unlikely to move forward - if anything, it might move back as the construction and building industries are struggling with material shortages (which are set to get worse). But obviously your buyer doesn't need to know that...

user1977

The alternative of course is you persuade your vendor to break the chain by finding somewhere else to stay while they wait for their shiny new house to be created. It always seems a bit unrealistic to me for somebody buying off-plan to expect the rest of the chain to put up with their builders' construction schedule.

Nervouslywaiting

I really do hope it is an empty threat and we have said the same thing. He cannot possible find a new house, start the process again and be in before July now surely? Not to mention all the money he will lose. But who knows.
We sold the house in 2 days and every viewer made an offer so to be honest, if worst comes to worst and he will pull out, I am confident we will sell it again pretty quickly. Just can't really be bothered with the stress and hassle of it 🤣

Interesting reading about the shortages of materials causing new builds to slow. If there are any significant delays, I may ask our solicitors to push our vendor to break the chain. I really would like to get the purchase through before the stamp duty deadline of October. Our vendor won't benefit from that anyway though as the house they're buying is too expensive, so they won't be as pushy as us by that point!