Not heard a thing from our buyer

No41edwardianhouse

TripleH said:

I think edddy might be right and they are possibly holding off committing until the chain completes.

It could be they have been involved in failed purchases previously and are not prepared to spend (waste?) more money in case your onward purchase collapses?

Do you have a cut-off point for your sellers to decide their plans? I would be cautious that a more mature couple would want the hassle of renting when downsizing. If they have to find their perfect property they might not be in any rush when they currently have a perfectly serviceable home at present whereas if your buyers may be putting 'buying a house' as more important than finding a dream home.

I only know of my mother who has decided to go into rental (who is of a more mature age), but she has seen nothing she likes on the market and isn't 100% sure of her onward plans at present but wants to get rid of a very large house as her priority.

I’m not sure I agree with your views on our buyer. The context behind the sale would seem to suggest otherwise. 

We are slightly worried about our onwards as we hope they have a plan. We think we will give them another two weeks and then start making noises. However, the house we have seen is absolutely perfect for our family so we would be reluctant to let it go. On one of the contract pack forms, they have said that the sale is not dependent on them completing the purchase of another property on the same day. So, go figure?!?

eddddy

No41edwardianhouse said:

Apologies, I wasn’t clear. They have indicated that they could move out and rent until they find an onwards. However, they aren’t set on that yet.

That's what I meant. People think "We'll move into rented" because they assume it's easy, and they wanted to be helpful.

Later they think about the pain of moving twice (especially if they're in their 70s), having to sign a 12 month tenancy, etc. Very often, people change their minds.

No41edwardianhouse said:

The only thing our buyer knows is that we have got our offer on our onwards accepted. 

Why do you assume that?  Lots of buyers would ask EAs about onward chains.

If they've been searching for a year, perhaps they've previously had problems with chains that never fully formed, chains than broke, etc.

They might even have previously lost hundreds of pounds in legal, mortgage and survey fees on properties with upward chains that never formed - so they're being super cautious.

No41edwardianhouse said:

I was simply saying it was odd we’ve heard nothing from them since they put the offer in.

Yes - and it may be because they are waiting for the chain to complete. i.e. Either your seller finds somewhere to buy or they confirm that they are definitely going to rent.

I'm sure your estate agent would be able to clarify this.

No41edwardianhouse

eddddy said:

No41edwardianhouse said:

Apologies, I wasn’t clear. They have indicated that they could move out and rent until they find an onwards. However, they aren’t set on that yet.

That's what I meant. People think "We'll move into rented" because they assume it's easy, and they wanted to be helpful.

Later they think about the pain of moving twice (especially if they're in their 70s), having to sign a 12 month tenancy, etc. Very often, people change their minds.

No41edwardianhouse said:

The only thing our buyer knows is that we have got our offer on our onwards accepted. 

Why do you assume that?  Lots of buyers would ask EAs about onward chains (If they've been searching for a year, perhaps they've previously had problems with chains that never fully formed, chains than broke, etc.)

No41edwardianhouse said:

I was simply saying it was odd we’ve heard nothing from them since they put the offer in.

Yes - and it may be because they are waiting for the chain to complete. i.e. Either your seller finds somewhere to buy or they confirm that they are definitely going to rent.

I'm sure your estate agent would be able to clarify this.

The buyer has been searching for a year because they were supposed to buy the house next door and it fell through. Our house is very unique and the EA said the buyer waited for another one of the 6 houses to come up. Ours did and they have snapped it up…

eddddy

No41edwardianhouse said:

The buyer has been searching for a year because they were supposed to buy the house next door and it fell through. Our house is very unique and the EA said the buyer waited for another one of the 6 houses to come up. Ours did and they have snapped it up…

It seems like you're trying to start an argument for the sake of it. I'm not interested in getting involved that kind of stuff.

No41edwardianhouse

eddddy said:

No41edwardianhouse said:

The buyer has been searching for a year because they were supposed to buy the house next door and it fell through. Our house is very unique and the EA said the buyer waited for another one of the 6 houses to come up. Ours did and they have snapped it up…

It seems like you're trying to start an argument for the sake of it. I'm not interested in getting involved that kind of stuff.

Oh no, apologies if it came across in that way. I’m absolutely not. The power of the internet and typed words - the tone of my voice is very grateful and honestly, thanks for listening. I hate the house buying process. Done it three times in my life and every time I’m like this 🤣🤣

[Deleted User]

Hi @No41edwardianhouse - I have absolutely been where you are. It sounds from this and your post on the mortgage board I saw that you're generally panicking about everything. That's not a criticism, I'm exactly the same and I even drive myself crazy during house moves. Convinced the valuations won't stack up, buyer won't get their mortgage, we won't get our mortgage, the vendors will change their minds and won't want to sell, our buyers will change their minds etc etc. 

All I can say after going through 4 sales now is that I'm really really going to try not to do that next time (easier said than done!). I've had it twice where an issue has cropped up (first time buyer just 'changing their minds' and not communicating it to anyone and then exactly the same but bottom of the chain had this). Both times we managed to resolve the situation and figure it out. All the other situations in my head never arose, I spent many days and nights worrying about nothing. And it doesn't stop something from cropping up. If it does, you will deal with it when it happens.

By all means be pro-active and on top of things as much as possible but from experience, you can drive yourself crazy thinking of each person in the chain's situation and trying to mind read what's going on. Wishing you all the luck for your sale and purchase! 

Thrugelmir

No41edwardianhouse said:

So, we sold two weeks ago. Day after the house went on the market. There was an offer made during the viewing and estate agent told us straight after and we accepted. Buyer has instructed solicitors and our solicitor has provided the buyers solicitor with a draft contract pack…what happens now? Should we have heard from the buyer??? Surely they’re having a survey???

Mortgage probably in the process of being applied for. Lender hasn't instructed surveyor yet. Give you buyers the benefit of the doubt for a little longer. Two weeks is nothing in terms of the time the entire transaction is going to take. 

youth_leader

As a cash buyer, I instructed my survey a few weeks after my offer was accepted, but then read advice on here to wait for the vendor to complete the chain. Her move to a rental was dependent on her retirement date, which was extended twice, my purchase took six months.

No41edwardianhouse

Deleted_User said:

Hi @No41edwardianhouse - I have absolutely been where you are. It sounds from this and your post on the mortgage board I saw that you're generally panicking about everything. That's not a criticism, I'm exactly the same and I even drive myself crazy during house moves. Convinced the valuations won't stack up, buyer won't get their mortgage, we won't get our mortgage, the vendors will change their minds and won't want to sell, our buyers will change their minds etc etc. 

All I can say after going through 4 sales now is that I'm really really going to try not to do that next time (easier said than done!). I've had it twice where an issue has cropped up (first time buyer just 'changing their minds' and not communicating it to anyone and then exactly the same but bottom of the chain had this). Both times we managed to resolve the situation and figure it out. All the other situations in my head never arose, I spent many days and nights worrying about nothing. And it doesn't stop something from cropping up. If it does, you will deal with it when it happens.

By all means be pro-active and on top of things as much as possible but from experience, you can drive yourself crazy thinking of each person in the chain's situation and trying to mind read what's going on. Wishing you all the luck for your sale and purchase! 

This is so so so true! I am totally panicked. We’ve done this three times before and the last time we had to sell two houses to buy our current. That was stressful! 

It gets me every time and I promised this time I’d be different - hmmmmmm! 

Snookie12cat

Deleted_User said:

Hi @No41edwardianhouse - I have absolutely been where you are. It sounds from this and your post on the mortgage board I saw that you're generally panicking about everything. That's not a criticism, I'm exactly the same and I even drive myself crazy during house moves. Convinced the valuations won't stack up, buyer won't get their mortgage, we won't get our mortgage, the vendors will change their minds and won't want to sell, our buyers will change their minds etc etc. 

All I can say after going through 4 sales now is that I'm really really going to try not to do that next time (easier said than done!). I've had it twice where an issue has cropped up (first time buyer just 'changing their minds' and not communicating it to anyone and then exactly the same but bottom of the chain had this). Both times we managed to resolve the situation and figure it out. All the other situations in my head never arose, I spent many days and nights worrying about nothing. And it doesn't stop something from cropping up. If it does, you will deal with it when it happens.

By all means be pro-active and on top of things as much as possible but from experience, you can drive yourself crazy thinking of each person in the chain's situation and trying to mind read what's going on. Wishing you all the luck for your sale and purchase! 

You sound just like me! I think of every single thing that could go wrong and worry. Turns out something did go wrong with buyers mortgage but we are resolving it... Still an anxious time while we wait for the hopeful next offer 🤞 
House buying is stressful and unpredictable. As long as you have reasonable people in the chain it can all be overcome!