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

Adsta

The sellers on the place I am buying are also still looking for a place to live, been about 6 weeks now. Was a shame as the place they did find when I offered they unfortunately lost so are back to hunting. That said I completely understand its just as stressful for them as it is me. 

I've met the sellers, they seem like a decent couple. and they are for sure wanting to move. They are relocating and have pretty much most of their house already packed up. While I'd like them to get a move on, I get that they also need to find a place that suits them. I really really like the house I'm buying so I'm content to wait so I get what I want. I was also hunting for about 2 months before I landed on this place. 

As long as it doesn't start creeping towards mortgage expire date, then I will start pushing harder.  

Lauraaa12

Reading the chain, how do most of you know the vendor has not found anywhere. Do you keep checking with the EA for updates or do they automatically keep you updated?

Adsta

Generally the EA has kept me up to date or I've emailed them and asked. The seller has also told me when they are viewing properties. Not sure every seller will do this.

For sure though chase the EA if you want information like this though, they want the sale to go through just as much as you do.

davilown

Lauraaa12 said:

Reading the chain, how do most of you know the vendor has not found anywhere. Do you keep checking with the EA for updates or do they automatically keep you updated?

I speak to the vendors EA once or twice a week - I refused to spend any money on solicitors or searches until they have found somewhere. Searches around here take 4 weeks, mortgage is arranged as well

[Deleted User]

Its very difficult at the moment as certainly where I am (and it seems many other areas too) there are so few properties coming up for sale and the ones that do come up have multiple people interested. Great if you are selling - but not great when you need to find an onward purchase. 

In a normal market i'd say a month is a reasonable amount of time to start asking for progress, however this is not a normal market. 

We would like to sell our house, but having been stalking rightmove for several months I know for fact we'd struggle to find something to buy within a reasonable time (unless we got incredibly lucky), so its what is making us hold off putting ours on the market. And I'm sure there are a ton of other people in the same position. No sellers = no properties. Its a bit of a vicious circle.

Ashworks

We sold 8 weeks ago and there have only been two houses even worth looking at in our price range, neither of which were suitable. We have a decent budget and are fairly flexible about requirements, although not area. There is very little coming on RM at all in our area. Very frustrating but luckily our buyers are being very patient. The trouble is if everyone is holding off marketing because they are worried there will be nothing to buy, the whole market will grind to a halt!

katie91_2

Depends on your situation and how long you’re willing to wait! We ended up waiting 3 months for our vendors, although they were unlucky that they had 2 purchases fall through before the third house they found worked out. We weren’t selling where we were living and loved the house, so it was worth the wait for us.

youth_leader

My friend lost her buyer after a four week wait, and the woman didn't even show her the common courtesy of telling her, she found out through a neighbour. She is now back on the market, I think she is in week 11 of waiting for her vendor to find somewhere. 

pluto261

Housing market stock is very low right now, and there aren't many new properties coming on to the market. If you like this house then I'd strongly recommend that you don't pull out of the sale, otherwise you might find yourself in the same position as the vendors - searching for another place to buy and not finding anything.

If you haven't already, I'd recommend using this time to get all of your ducks in a row: mortgage application, survey, searches etc. Maybe get home buyer's protection insurance if you're worried the vendors might pull out. Make sure that everything is ready to go on your end so that when they do find a place things can move quickly. If another month passes and they still haven't found a place, maybe ask if they'd be willing to move into renting? Being chain-free buyers would put them in a better position and might make it easier for them to get an offer accepted.

davilown

pluto261 said:

Housing market stock is very low right now, and there aren't many new properties coming on to the market. If you like this house then I'd strongly recommend that you don't pull out of the sale, otherwise you might find yourself in the same position as the vendors - searching for another place to buy and not finding anything.

If you haven't already, I'd recommend using this time to get all of your ducks in a row: mortgage application, survey, searches etc. Maybe get home buyer's protection insurance if you're worried the vendors might pull out. Make sure that everything is ready to go on your end so that when they do find a place things can move quickly. If another month passes and they still haven't found a place, maybe ask if they'd be willing to move into renting? Being chain-free buyers would put them in a better position and might make it easier for them to get an offer accepted.

Thanks

Mortgage sorted already, searches Were holding off for them to find somewhere before we pay for them. Survey done as well.

we think they may have had an offer accepted yesterday so fingers crossed 🤞 

Thanks all