Vendors can’t find a house

eddddy

1616six said:

I did wonder about this but I don’t know if it’s frowned upon.. I can’t imagine the agent being willing to put us in touch. Do you think it’s polite enough to maybe write a brief letter to the vendor explaining the situation and to say if they want to have a chat to give me a call? Then just sticking it through their letterbox? I don’t like the idea of just turning up and knocking on the door. 

There's nothing to stop you contacting the vendor.

But assuming the EA is paid on exchange/completion, I suspect that the EA is already pushing them hard - probably a lot harder than you'll push them - especially compared to a polite letter.


The EA wants their fee asap, so they'll be pushing your vendor hard to get their act together asap.

And the EA will be even more worried that you'll find another property and/or just walk away - because then they'll lose their fee.

So starting to look at other properties is usually a good way of getting the EA to push your vendors even harder.

YoungBlueEyes

Might be a good idea to mentally switch off from this property, and start looking again. 

We found a great house when we were looking. Style we wanted in the area we wanted, within budget so we could afford to do it up. Owned by a widow wanting to move near her daughter (around an hour away according to the EA).  She eventually rejected our AP offer, so we continued to look and found another house. 

That first house is still for sale… I really should stop looking at Rightmove ha haa! She’s reduced it by £50, but now wants offers over. 

It’s a cracking house and I’m sorry we’re not in it, but that was nearly a year ago…. 

RM_2013

good advice.  Am following the thread as I’m on a similar position although not been waiting as long as OP.  I’ve tried to put the house out of my mind as I feel it might not happen.  Still doing daily rightmove searches but still haven’t found anything we like as much but if something comes up I will definitely view and consider especially if no chain

Flick85

1616six said:

Had a quick look on Rightmove and there’s absolutely nothing in budget that is remotely worth considering so we’ll have to just keep an eye out. Like what has been mentioned here re potential of this happening again, I think looking for a no chain or vendor found property is the way forward where possible!

So… there’s nothing else available that you would consider buying. Sounds like they are in a similar position! They’ve been viewing things, but not finding. Now, they can obv adjust their budget or compromise on wish list, but there isn’t very much stock at the moment, so it’s not unreasonable it’s taking them a while.

How long were you looking before making your offer on this place?

I appreciate its super frustrating to be waiting. All you can really do is keep an eye out for other properties you would consider, and not spend any more money on your purchase until they have found somewhere. But, given they may find somewhere where their sellers also need to buy, this could take a while.

The often spouted “move into rented” is not that easy - the rental market is overwhelmed too and they might not be able to find anywhere to rent either.

Basically, the system really sucks for everyone!

1616six

felicityBD15 said:

1616six said:

Had a quick look on Rightmove and there’s absolutely nothing in budget that is remotely worth considering so we’ll have to just keep an eye out. Like what has been mentioned here re potential of this happening again, I think looking for a no chain or vendor found property is the way forward where possible!

How long were you looking before making your offer on this place?

We were very lucky, we had our AIP meeting 31st May so started looking after that, viewed this house 18th June, offered on 29th June. We actually found very quickly.

I’m keen not to miss this house as it’s perfect location and a lovely house.. I also think we’ve got a bargain. Our hand is just forced somewhat because of interest rates. Even from AIP to mortgage offer the rates changed so much it made £38 a month difference on our payments. God knows how much it’d go up by now with how much the rates have changed since July.

lookstraightahead

felicityBD15 said:

1616six said:

Had a quick look on Rightmove and there’s absolutely nothing in budget that is remotely worth considering so we’ll have to just keep an eye out. Like what has been mentioned here re potential of this happening again, I think looking for a no chain or vendor found property is the way forward where possible!

So… there’s nothing else available that you would consider buying. Sounds like they are in a similar position! They’ve been viewing things, but not finding. Now, they can obv adjust their budget or compromise on wish list, but there isn’t very much stock at the moment, so it’s not unreasonable it’s taking them a while.

How long were you looking before making your offer on this place?

I appreciate its super frustrating to be waiting. All you can really do is keep an eye out for other properties you would consider, and not spend any more money on your purchase until they have found somewhere. But, given they may find somewhere where their sellers also need to buy, this could take a while.

The often spouted “move into rented” is not that easy - the rental market is overwhelmed too and they might not be able to find anywhere to rent either.

Basically, the system really sucks for everyone!

I agree the system is appalling. The whole housing market is a mess, but it is what it is. If you want to sell, you can't keep buyers hanging around ad infinitum as they will move on, especially now when interest rates are going up and it's costing them dearly to hang on.  Renting is uncomfortable for some (it's never impossible, you might have to put yourself out) but no amount of blaming the market will help. It's now costing buyers hundreds of pounds a month in interest rate rises potentially. Along with their own rentals etc.

RM_2013

We’ve chased EA again today still getting the “vendors are actively looking but not found anything they like yet”

6 weeks since we made our offer which I know isn’t a long time compared to some but we’ve sold to FTB and we know they will want to move asap.  Still looking on right move but nothing else that we like as much in same price bracket.  Oh well 

housebuyer143

RM_2013 said:

We’ve chased EA again today still getting the “vendors are actively looking but not found anything they like yet”

6 weeks since we made our offer which I know isn’t a long time compared to some but we’ve sold to FTB and we know they will want to move asap.  Still looking on right move but nothing else that we like as much in same price bracket.  Oh well 

Unfortunately if they like their house, don't NEED to move but want to move they will be looking for their dream house and they don't come around often for many. 
When I was looking it took me 6 weeks to find my house but that was purely luck. It came up at the right time at the right price. In the year since offering I found one other suitable house that was in my budget.

You can't rush people into buying any house. If they are looking for better than the place they have, they will want to find it. 

alibean121

RM_2013 said:

We’ve chased EA again today still getting the “vendors are actively looking but not found anything they like yet”

6 weeks since we made our offer which I know isn’t a long time compared to some but we’ve sold to FTB and we know they will want to move asap.  Still looking on right move but nothing else that we like as much in same price bracket.  Oh well 

If I were you I would tell the estate agent that you're starting to look at other properties again. That your offer still stands unless/until you find something else. Ideally you'll also book a viewing at the same time on a property that's listed with that estate agent. Doesn't really matter if you don't like it or can't really afford it, book in and view. Hopefully they'll lean on your seller. 

I would then view anything potentially suitable as it comes on the market. Hopefully your seller pulls their finger out or you find something else!

RM_2013

housebuyer143 said:

RM_2013 said:

We’ve chased EA again today still getting the “vendors are actively looking but not found anything they like yet”

6 weeks since we made our offer which I know isn’t a long time compared to some but we’ve sold to FTB and we know they will want to move asap.  Still looking on right move but nothing else that we like as much in same price bracket.  Oh well 

Unfortunately if they like their house, don't NEED to move but want to move they will be looking for their dream house and they don't come around often for many. 
When I was looking it took me 6 weeks to find my house but that was purely luck. It came up at the right time at the right price. In the year since offering I found one other suitable house that was in my budget.

You can't rush people into buying any house. If they are looking for better than the place they have, they will want to find it. 

Yes I totally get this.  I understand that it takes time to find the right property.  We came across this one when we weren’t even looking that hard!! When we went to view they said they were looking to upsize.  They’ve had a baby since they moved there and my guess is that they want a bigger garden (a smaller one suits us better now we have teenagers) plus I don’t think the layout of the house is ideal for a young family.  3 storey townhouse with 3 beds on 1st floor but main bedroom and en suite on top floor.   Again it’s perfect for us as means we get the top floor and the teens get the 1st floor but I wouldn’t have wanted to be sleeping on a different floor to the kids when they were young.  At present they have their little one in a cot in their room but want to move him to his own room.  
I’m just impatient as I love the house!!