Buying a house but now the sellers can't move out until next year!

simon_or

user1977 said:

simon_or said:

Don't spend a penny on this house or agree to exchange until they have a firm completion date that is no more than a month away.

That's not going to work. They're unlikely to have a firm completion date until about 14 days before they complete i.e. once the builders have actually finished building.

Okay, an acceptably short period of time then.

user1977

mayling03 said:

lookstraightahead said:

These people obviously aren't that bothered about moving full stop. They could move into rented but they sound entitled.

personally I would look elsewhere 

I disagree they sound entitled. They have found a new build and it's not built yet. Ideally no one would want to move twice. It's up to the OP to choose to let it go/wait. 

Ideally yes, but it's not particularly realistic to expect your buyers to be willing to be dragged along by your builders' timescales. It's pretty commonplace to sell first and find somewhere else to stay while your shiny new house is constructed.

simon_or

mayling03 said:

lookstraightahead said:

These people obviously aren't that bothered about moving full stop. They could move into rented but they sound entitled.

personally I would look elsewhere 

I disagree they sound entitled. They have found a new build and it's not built yet. Ideally no one would want to move twice. It's up to the OP to choose to let it go/wait. 

Well they've already wasted 2 months of the OP's time and now expect them to wait for another 8 months (minimum and probably not realistic). It's common practice to go into rented if you want to sell and your new build will take ages to get built.

400ixl

Risky on their side. What is to stop you stringing them along now, doing nothing on your side with them, finding a new property to progress on and then drop out of their purchase when it is too late for them to be able to re-sell and meet their new build date.

Unfortunately many new builds will now not allow you to even reserve a plot unless you are sold subject to contract. However most now don't seem to release plots in whole phases anymore and drip feed them much closer to the completion time, so surprising in a way that they have been able to reserve a plot so far in advance.

hpsauce86

Lynxxx said:

Thank you for letting me know about the mortgage offer only being valid for 6 months, i wasn't 100% sure about that. Yeah i don't think they have any interest in renting until their house is ready I have a feeling we are going to have to pull out.

I’m sorry. It’s a rubbish situation. I’m sure you’ll find something equally as lovely! 

We are buying from a vendor buying a new build, but hers was already built when she put her current house up for sale. It was just electrics and snagging stuff plus her upgrades she wanted. Despite being told she wanted/needed to move quickly, we’ve been waiting to exchange now for 2 months, I think we are almost there, but considering in early February we were told it would be ready for her to move in to in weeks, you can see there are always delays in new builds. If they are saying next year I’d add a few months on to that at least. 

Thrugelmir

lookstraightahead said:

These people obviously aren't that bothered about moving full stop. They could move into rented but they sound entitled.

The vendors have decided to buy a new property. That's their choice. You've no idea if moving into rented is practical for them. There's no entitlement. This is a business transaction. 

Thrugelmir

user1977 said:

mayling03 said:

lookstraightahead said:

These people obviously aren't that bothered about moving full stop. They could move into rented but they sound entitled.

personally I would look elsewhere 

I disagree they sound entitled. They have found a new build and it's not built yet. Ideally no one would want to move twice. It's up to the OP to choose to let it go/wait. 

 It's pretty commonplace to sell first and find somewhere else to stay while your shiny new house is constructed.

If only it was that easy.............

Thrugelmir

simon_or said:

mayling03 said:

lookstraightahead said:

These people obviously aren't that bothered about moving full stop. They could move into rented but they sound entitled.

personally I would look elsewhere 

I disagree they sound entitled. They have found a new build and it's not built yet. Ideally no one would want to move twice. It's up to the OP to choose to let it go/wait. 

Well they've already wasted 2 months of the OP's time and now expect them to wait for another 8 months (minimum and probably not realistic). It's common practice to go into rented if you want to sell and your new build will take ages to get built.

They are not expecting anything. Up to the OP to decide what they want to do.

Can often take months for a chain to come together and reach completion. Even at the best of times. 

Lynxxx

Thank you for everyone's helpful replies i am extremely grateful. We are going to have to sit down and have a long hard think about what to do.

robatwork

Lynxxx said:

I am sorry if this post ends up being long but I am after some advice if possible? We are first time buyers and put an offer in on a house at the end of march which was accepted straight away. Things had been going well until two days ago when the estate agent phoned and left a voicemail saying that the sellers are buying a new build that won't be done until the beginning of 2023 so they are going to be staying in the house until then and is that ok??? 

As first time buyers we haven't got a clue what this means for us now? We have emailed our mortgage provider and solicitor and are waiting to hear what they say but could anyone give me some advice on what happens now? We really don't want to lose this house. We don't mind maybe giving them 3 months but not 8 months, that 8 months could end up being longer if the date on their new build gets pushed back.

Am I wrong for feeling this is unacceptable and they shouldn't be asking us this? I get the feeling they don't even have a solicitor as I feel if they did have one then Surely they would be telling them they have to move out and rent? I think they needed the sale of the house to secure their plot on their new build and that's all they care about.

Any advice anyone could give me I'd be extremely thankful for. Thank you

You've already lost the house. Nobody in their right mind would proceed on this basis so tell them it's unacceptable and you're moving to pastures new in the house buying process. It's a pain in the behind, but there are other houses out there you will fall in love with.