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How long to wait for a vendor to find a property to move to?
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As above it really does depend. My buyer found mine nearly 2 months after accepting offer from FTB. I found somewhere in 10 days. My seller is getting on with things as had chain fall through previously, but I must admit 4 weeks would be pushing it for me at the moment . I know where they are looking and know there are properties available in that price range, they may not be perfect, but we all have to compromise. And if they won't go into rental, again their choice (I wouldn't) but choices comes with consequences that I'll buy something else.
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4 weeks is plenty of time - if the vendors don’t find something in this period, how serious are they about moving?If they’re serious, they’d break the chain and move into rented. If not, cheers and goodbye.30th June 2021 completely debt free…. Downsized, reduced working hours and living the dream.0
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I have been looking for six weeks and can’t find anything. I have got very specific requirements about location and size but only about ten properties in my price bracket have come on the market in that time. Several have already been under offer by the time I viewed them, and one that I bid on went for more than £10k over asking price. It’s definitely nothing to do with ‘not being serious about moving’.After I’d been looking for a month I told my estate agent to tell the buyers to go ahead and I’ll move into rented accommodation, not what I really want to do but I don’t want to lose them.Life is mainly froth and bubble: two things stand like stone. Kindness in another’s trouble, courage in your own.1
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I'm a FTB, and it's been 7 weeks since my offer was accepted. I'm told by the estate agent that the vendors have been actively looking and have put in a couple of offers, but just not been successful - I don't know much about their requirements, but I suspect they need to stay in the same area but can't really afford to so they'll be hoping that a falling-down (and therefore, cheap) property will come on the market.I am wildly keen to get the process moving, but I'm also lucky in that I don't need to move by any specific date so I've not been pushing much. I also haven't seen any other places on Rightmove that I'm that enthusiastic about! I think I've decided that I'll give them until 3 months after offer, and if still nothing then I'll start making a concerted effort to find somewhere else.0
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My friend's vendor hadn't looked at all as she wanted to wait for an offer, and has had to completely rethink her location as she has been priced out of the Bournemouth area she'd hoped to move to. I think it is now week ten since my friend offered, but as she has now lost her buyer, she is happy to continue to wait.
My friend's buyer waited exactly four weeks, giving her assurances that she wanted to proceed - then sneaked off and put a deposit on a McCarthy and Stone property without telling her. It's a small village and everyone knows everything, she found out very quickly.£216 saved 24 October 20140 -
Those saying they have a shortlist to view - everything decent is selling so the shortlist would actually be a sold STC list once you were ready to view!!
And 4 weeks is nothing in this current market!!
Just because your vendor hasn't found somewhere doesn't mean they don't genuinely want to move.
And moving into rented to break the chain? I think you're crazy to do that in a rising market, personally.
Since offer was accepted on house I'm buying I've continued to look at Rightmove and there's not been a single property for sale in my budget that I've liked or has been suitable. So if I hadn't have gotten this house, I'd STILL be looking 2 months on.
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We sold our last house within a week on the Friday, viewed our current fav that night plus a new to market house the Saturday morning, we second viewed the new to the market house on the Sunday, made an offer on the Monday which was accepted on the Tuesday. The vendors had already had an offer accepted and secured the property they wanted to purchase off of the market for a fortnight to try and sell there’s.Their onward purchase then took two months to find a vacant property to complete the chain. Luckily our buyers already owned a flat that they planned to rent out after completion so were happy to wait as long as they could move in before Christmas. The chain completed mid September and we moved late November so took 5 months from putting our house on market to moving.Unbeknown to us our first time buyer had gone ahead with mortgage valuation, has mortgage offer and searches and was pretty much ready to exchange bar final enquiries by time chain was complete and everyone else was starting off so they were financially committed - not sure why the estate agents and solicitor had advised them to do this though.0
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Nikkilou86 said:Unbeknown to us our first time buyer had gone ahead with mortgage valuation, has mortgage offer and searches and was pretty much ready to exchange bar final enquiries by time chain was complete and everyone else was starting off so they were financially committed - not sure why the estate agents and solicitor had advised them to do this though.
We did hold off on the survey though - nobody pushing us on that so waited for a complete chain before we incurred that expense.Octothorpe said:Since offer was accepted on house I'm buying I've continued to look at Rightmove and there's not been a single property for sale in my budget that I've liked or has been suitable. So if I hadn't have gotten this house, I'd STILL be looking 2 months on.
When we were bugging our vendor to hurry up, I don't think we had appreciated quite how silly the market had gone, and I feel a bit bad for that now. If we were in their position we'd have been stuck too.0 -
As a FTB we had our offer accepted and waited for 7 weeks for the vendor to find the property they wanted to move to, and eventually they then decided they weren't going to move at all so the sale fell through, and we were back to the drawing board.
I doubt I would be as patient again (although to an extent that depends on your own position and the state of the market). I wouldn't necessarily pull the plug sooner, but I would probably start looking at other properties again, to keep my options open.0 -
We waited 8 weeks in March this year - then our buyer pulled out in the morning, and our vendor had an offer accepted the next day.
It'd worry me more if it took that long again now. It worked out for the seller, because they just offered to the next people who'd offered asking price, but it's massively set us back.Signature down for maintenance :rotfl:0
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