Buyer getting restless - advice

lookstraightahead

PollyWollyDoodle said:

Having made the decision to move and gone through the marketing process, I don’t want to let my buyers down and I don’t want to go through it all again; I wouldn’t have offered to move out if I wasn’t prepared to go through with it. 

I agreed a sale in April, and as soon as my buyers have had their survey in a couple of weeks I’m going to start looking for rental accommodation. I am self-employed, fit and active, and I don’t have any children. Even so, I am dreading the thought of moving twice and it’s going to cost me a significant amount of money.  It isn’t an easy option. 

We broke the chain, and moved into rental  two hours away, with kids, changed our jobs, mil died, find out husband has a heart condition, had to sell mil house, found out my dad had terminal illness, bought house, need renovation work, moved in (not all in that order).

The moving twice has been the least stressful part!

we negotiated the whole of the rent we had paid off our purchase as we had no chain, and found it so much better being able to choose something in our own time.

annieb64

That sounds incredibly stressful. We've  had to deal with my father's  death during lockdown and as I was one of the executors applying for probate at the same time as getting our house on the market. 

Our buyers are renting so want to be in ASAP but we are lucky as DD has an empty flat we can use if we need to move before the sale of our new house is complete. Not sure how I will survive sharing a tiny flat with DH who is the untidiest man on earth but hopefully  it won't  be for long.

ucl1986

lookstraightahead said:

People aren't going to just wait. They will pull out. Mortgage offers run out, people can't afford to just wait.

If a vendor wants the luxury of staying put until they're quite ready, then they need to chose a buyer who quite literally can fund it. That means not necessarily taking the highest offer. 

It's all going to have to come out in the wash. This manic porridge pot of pretend money that buyers apparently have will come to an end, and vendors will have to make some choices. Maybe not move and not sell if they can't find a rental or are unhappy about breaking the chain.

Sone people are just happy to have other people put themselves out, but can't possibly put themselves out! 

What does the buyer achieve from pulling out at this stage though? It will just delay their purchase further since they will need to find a new property to buy and go through all the surveys, searches, mortgage applications etc. again.