FTB waiting for chain - been 3 months

natashalewis1

So me and my fiancé are first time buyers and we had a offer accepted on a property 13 weeks ago now! We live at home with parents so no worries there, our mortgage is all accepted etc so we are all sorted with our solicitors also. Our vendor had a offer accepted on a property 1 week after accepting our offer. But the people they are purchasing from have not found anything 3 months later! Are we just being inpatient?? Or do people find this quite a normal time frame at the moment?? 

babyblade41

This type of scenario really does annoy me . Why do people put there house up for sale if they have no idea where they are going to !!!

I'd be buying something else  as they seem in no hurry to move .

With my situation we are selling to a complete cash buyer and had an offer accepted on our purchase 2 days later, we had a list of prospective properties before we even went up for sale.

I have also told our solicitor if the one we are buying goes terribly so as it's a separation we will break the chain and move out 

lookstraightahead

You will have a range of replies that you should just wait for the people at the top,  but my opinion is that because you live with your parents, the people at the top think it's ok for you to wait at their leisure, as if you should be put out, not them.

it's up to you how long you want to wait, and how much you want the house.

Personally (and I'm definitely in the minority here) I would be looking elsewhere. You don't have to tell anyone you're looking.

comeandgo

I’d be looking for another property.  What’s to say the person they will be buying from  has a property and not another 4 month wait to find a property, your chain is not complete.

TripleH

I'd talk to the estate agent to discuss with your vendor.

Tell them you really like their house and want to buy, but due to the ineptitude of their vendor, you will have a look at the market in the new year. Also say if they find a new place to buy, you're happy to wait a bit longer for them.

This way you give your buyer reassurance that if they look elsewhere (they may have similar thought), you're happy to stand by them and give extra time, but that you won't wait around for ever but also gives them incentive to nudge their sellers to get focused.

It gives a stress free Christmas to all, since the market will be dead at this time, there's no need to rock the boat and 'you' have time to stop and think.

lookstraightahead

The thing is op, without you the whole chain will fall apart. I don't see why your need to be in your new home is any less important than the people at the top. 

You might be living with parents, and that's great that they are helping you out, but it's actually them who are being put out by the top vendor. Maybe the top should move in with relatives?

im not a FTB (30 years further on than that) but the rap FTB get for dithering is unfair, when it's older people (my age) who faff around.

lookstraightahead

babyblade41 said:

This type of scenario really does annoy me . Why do people put there house up for sale if they have no idea where they are going to !!!

I'd be buying something else  as they seem in no hurry to move .

With my situation we are selling to a complete cash buyer and had an offer accepted on our purchase 2 days later, we had a list of prospective properties before we even went up for sale.

I have also told our solicitor if the one we are buying goes terribly so as it's a separation we will break the chain and move out 

Music to my ears

Crashy_Time

lookstraightahead said:

You will have a range of replies that you should just wait for the people at the top,  but my opinion is that because you live with your parents, the people at the top think it's ok for you to wait at their leisure, as if you should be put out, not them.

it's up to you how long you want to wait, and how much you want the house.

Personally (and I'm definitely in the minority here) I would be looking elsewhere. You don't have to tell anyone you're looking.

Good advice.

michelle09

I'd see if the seller's EA can get an idea of how hard they're looking. When we were FTB we had a feeling that our vendors weren't particularly motivated despite the EA saying we were being hasty pulling out. That was January 2016. I've just checked - that house has still not sold.

When we put our house up for sale we had a list of houses to view and the chain was completed in a week. When it looked like our sellers were going to withdraw we agreed to exchange with our buyers with a four week completion date. (I phoned our seller's EA and told them we'd exchanged on our sale, never seen an EA move so fast.)

lookstraightahead

michelle09 said:

I'd see if the seller's EA can get an idea of how hard they're looking. When we were FTB we had a feeling that our vendors weren't particularly motivated despite the EA saying we were being hasty pulling out. That was January 2016. I've just checked - that house has still not sold.

When we put our house up for sale we had a list of houses to view and the chain was completed in a week. When it looked like our sellers were going to withdraw we agreed to exchange with our buyers with a four week completion date. (I phoned our seller's EA and told them we'd exchanged on our sale, never seen an EA move so fast.)

I can't understand why people put their houses on the market with little interest in moving. They're either scared or bored. I think some vendors get cold feet and are more in love with the concept rather than the reality.

babyblade41

I pretty much knew that our possible onward purchase could be problematic as when we viewed the house it was a tip .. Dog poop hadn't been cleared and every time I went past before we had an offer there was only an old pick up in the drive. No family pics at all and a sense of only manly things in the bathroom.

I checked on LR and knew it was owned by a couple so put 2 and 2 together  and made arrangements with MIL to make sure we could camp in her paddock if this were going to take some time 

Thankfully they are using their own high st solicitor rather than EA's conveyance factory so that was a bonus 

So much emotional time is invested in moving house and it really does annoy when one person decides everyone else should wait 

Same as when I'm selling ..if my buyer becomes really slow for no apparent reason  mine goes back on the market