How long to wait for a vendor to find a property to move to?

Bumblebees123

Hi All!

We just had our buyer pull out from our house sale after  just over 4 weeks, with the reasoning being that we were taking too long to find a suitable property to purchase. They have been pestering us to see if we had found anywhere since week 2, making life exceptionally stressful. We viewed quite a few and put offers in on 2 properties, which both went to best and final bids, which we didn't win. Every property we view seems to go within a few days of being for sale, mostly way over the asking price.

They have already found another property which was end of chain and had an offer accepted.

I am at a loss to know what else we were expected to do in such a short space of time? Renting is not an option due to family situation and business concerns.

Only having 4 and a bit weeks to find, view and offer on a property (which is then accepted) just seems really unreasonable in the current climate. Am I just being realy naive and out of touch with how things work?

What would be an acceptable time scale to give your vendor a chance to find a property? As a buyer how long would you be prepared to wait?

Gavin83

It's impossible to answer and will vary from person to person. For me it would depend on circumstances. I expect your buyers were trying to make the stamp duty holiday and therefore were pushing to get you out ASAP.

Skiddaw1

When we sold our previous house (the summer before Covid) we had offer accepted on our current house approximately 6 weeks after we'd accepted our buyer's offer. That was pre-Covid of course, which made things easier in terms of us finding somewhere (plus we were relocating to Cumbria from the South) but under current circs particularly, I think 4 weeks is hopelessly unrealistic. I'd have been prepared to wait for at least double that (and considerably longer if your house was the one I wanted) especially if I felt reassured that you were actively looking.

[Deleted User]

It varies hugely. A few weeks for some (as you've found out) to no the or even years for others. The only thing that matters is how long the person looking to buy your house and will wait and how quickly you can find a property.

If there's a lot of similar properly to yours on the market, people won't wait for as long as if it was something unique.

babyblade41

For me 4 weeks is too long. Before I even go to market I have a full list of favourites  that I can view so that when an offer comes in I can view all of them in the week following the offer .

It holds up the whole chain and may show that the vendor isn't particularly serious about moving

Skiddaw1

We had a shortlist and I arranged viewings as soon as we'd accepted the offer on our house, but we were relocating 300 miles away so we had to book accommodation and fit the viewings over a two day period which delayed things a bit. I think it would be lucky to get an offer accepted within 4 weeks in the current market.

babyblade41

Skiddaw1 said:

We had a shortlist and I arranged viewings as soon as we'd accepted the offer on our house, but we were relocating 300 miles away so we had to book accommodation and fit the viewings over a two day period which delayed things a bit. I think it would be lucky to get an offer accepted within 4 weeks in the current market.

I'm not sure why you think it takes 4 weeks ... normally vendors may want to mull things over if the offer is below what they need , 

If I want to offer then it goes to the agent and I usually give 48-72 hours to think about it, if they don't come back I leave the offer on the table and move on .

I am just about to embark on house move number 17 (I think) I have properties on my right move account for the past 8 months and haven't gone to market yet .  I should be ready in about 4 weeks so will go back over that list and whittle it down when an offer comes in.

By the time I view I have more or less decided on which one is going to be the one.


I check the land registry portal first, I have the floor plans and check up the area on line ... I have had 2 long distance moves of 180 miles and only made one trip both times and done in a day 

Skiddaw1

Wow... that's very organised indeed.... 17 moves! We've only moved 3 times. I think I'd be a gibbering wreck after 17!

I suppose it just goes to show how people differ. As I say, a 4 week (or more) wait wouldn't bother me at all.

babyblade41

Skiddaw1 said:

Wow... that's very organised indeed.... 17 moves! We've only moved 3 times. I think I'd be a gibbering wreck after 17!

I suppose it just goes to show how people differ. As I say, a 4 week (or more) wait wouldn't bother me at all.

Of course it wouldn't bother lots of people but I'm an impatient PITA !!!.  Once I'm on the move I'm completely myopic and have very itchy feet 

sw7

We were in this position as the buyers and waited 4 months. It was frustrating and agonizingly slow and we were putting a lot of pressure on via the estate agent.

That said, there was simply nothing on the market (or when there was, they went quickly). That was partly what made our vendors so slow - they had a couple of failed bids - but it also meant we didn't have any better options than the house we'd already had an accepted offer on. 

How long would we have waited? Probably not much longer... but again, it's about what the alternatives are.

Keswick1uk

babyblade41 said:

For me 4 weeks is too long. Before I even go to market I have a full list of favourites  that I can view so that when an offer comes in I can view all of them in the week following the offer .

It holds up the whole chain and may show that the vendor isn't particularly serious about moving

The market at the moment doesn't work like that sadly! Here, good properties,  go immediately and mainly through best and final offers. Your list to view will be history the day you get an offer for yours.

Then, add to this, as houses come on you have to like them, view them, and win a best and final offer!

It's a crazy time and it's why we aren't selling. I don't think I could stand the stress. 

I really feel for you OP!