4 weeks since offer accepted but vendor still hasn’t t found anywhere

davilown

As the title, how long would you wait? Getting frustrated as looking as if we will have to rent short term (completing next week on ours and breaking the chain), staying with relatives for 3 months whilst they are out of the country.

Redwino222

Four weeks isn’t that long to find a house, bid and have your offer accepted.

Perhaps you need to find a chain free house?  Decide how ping you are willing to wait (another month?) and tell them if they haven’t completed the chain by then you will start looking for another house.

Slinky

OP how long were you looking before you found this house? Probably longer than 4 weeks I'm guessing.

fishfingerbutties

Understand your frustration but the market is so manic at the moment. I was lucky I found my place in a week, but sellers after 2 weeks haven't found anything or even had any viewings. My buyer is getting a bit eager but I know she took over 2 months to find my place.

Patience is key at the moment. If you don't want a chain, as above either find a chain free property or go ahead and rent. 

Cactus_Flowers

I waited 8 weeks for my sellers to get an offer accepted on a place, which luckily turned out to be chain-free so its an extremely short chain now (I'm a FTB)

During those 8 weeks I was keeping an eye on what was coming on Rightmove, just in case I saw something I liked, but I figured most places would have this exact same situation of the sellers needing time to find their new place

fishfingerbutties

Cactus_Flowers said:

I waited 8 weeks for my sellers to get an offer accepted on a place, which luckily turned out to be chain-free so its an extremely short chain now (I'm a FTB)

During those 8 weeks I was keeping an eye on what was coming on Rightmove, just in case I saw something I liked, but I figured most places would have this exact same situation of the sellers needing time to find their new place

This is so true. So many people seem to be pulling out as sellers aren't finding anywhere, but then buying another place with the same issue and ending up back at square one!

MatyMoo

I was in your vendors position. When I put my house on the market there were a dozen houses for sale in my preferred village, when I accepted their offer 4 days later they had all sold 😱

It took me 6 weeks & 25 viewings in a 10 mile radius of where I wanted to be before I found my new property - luckily in the village I wanted in the first place!

davilown

Slinky said:

OP how long were you looking before you found this house? Probably longer than 4 weeks I'm guessing.

We found this in 3 days, with offer taking a week or so to be accepted

RelievedSheff

davilown said:

Slinky said:

OP how long were you looking before you found this house? Probably longer than 4 weeks I'm guessing.

We found this in 3 days, with offer taking a week or so to be accepted

You were lucky to have found somewhere so quickly. 

You need to be patient. Four weeks is no time at all.

Weathergirl_76

I accepted an offer on my property, and then over the course of a week viewed about 6, and offered on one of them (subsequently accepted). I am still set up for Rightmove alerts, and I have noticed that there is hardly anything being listed in the areas I was looking in. About 1-2 months ago there were properties being listed daily, now I get the alerts every 4-5 days. What is going on the market is selling within days. Are they being proactive in finding a property, albeit given what’s around at the moment, I would ask that question to the agent. It’s a very busy market and there isn’t much around. 

BikingBud

fishfingerbutties said:

Cactus_Flowers said:

I waited 8 weeks for my sellers to get an offer accepted on a place, which luckily turned out to be chain-free so its an extremely short chain now (I'm a FTB)

During those 8 weeks I was keeping an eye on what was coming on Rightmove, just in case I saw something I liked, but I figured most places would have this exact same situation of the sellers needing time to find their new place

This is so true. So many people seem to be pulling out as sellers aren't finding anywhere, but then buying another place with the same issue and ending up back at square one!

So what does that actually mean for the market?

If there are sellers across all house types and prices, where are they pulling out and why?

Is there a choke point where aspirational sellers cannot bridge the gap to the next step? Price rises for your own house only give you options if your next move is across or down. Inflation has moved the rungs of the ladders further apart.

Are we seeing kite flying being knocked back a little as mortgage valuations and lower than expected equity restrict freedom to move?

The news seems to advise all is still rosy https://www.bbc.co.uk/news/business-57383862. 

Interesting comments and from a wider and probably more representative selection of the population than some of the VIs on here.

Breaking the chain? So difficult to call.