Wanting to buy a different property

kjs31

I’m in the process of trying to buy a house. I sold my house a while ago and am living with relatives at present. I am a cash buyer. I agreed a completion date of end of August before I made an offer on a house and the sellers were due to do a temporary move until their new build was complete. Now the sellers don’t want to move until the new build is completed which has seriously annoyed me. 

Another property has now gone on the market in the same road which I prefer but unfortunately it’s being marketed by the same estate agent. I did get to view it but want a second viewing with the vendor present. The estate agent seems reluctant to let me view the property presumably because I’m under offer with the other one but I much prefer the new property. I’m getting the runaround with arranging a second viewing. 

If I don’t get a second viewing date I’m thinking of driving to the property tomorrow night and putting a note through the door asking when would be convenient for a second viewing. Good idea? Bad idea? I am on the verge of pulling out of the initial purchase anyway at this point. 

NameUnavailable

I'd shorten your parag's for better responses.

When will the new build be ready (or I should say, expected to be ready?). People often say they'll move out and then change their mind when they realise the actual logistics/cost of doing that.

As for the other property, I would drop by and knock on the door - just be up front and tell them what you're thinking. If they are saying they're not looking to actually move until next year you know that it's probably better to stick with what you have. OTOH if the agent is spinning lies to keep your sale on track both you and the vendor will know!

lika_86

It took me 10 weeks to get into a vacant house chain free and that was with a speedy solicitor on my side and no issues. I wouldn't put it past the seller to not want to complete before Christmas and to market now.

kjs31

NameUnavailable said:

As for the other property, I would drop by and knock on the door - just be up front and tell them what you're thinking. If they are saying they're not looking to actually move until next year you know that it's probably better to stick with what you have. OTOH if the agent is spinning lies to keep your sale on track both you and the vendor will know!

Thanks! Trouble is, now that I’ve seen the other property the original one just doesn’t match up. Had we exchanged and it was all done and dusted it would have been game over but my nephew hit the nail on the head when he said “every time you drive past that house you’ll wish you had bought it instead of the one you bought”. I may go tomorrow night and knock on the door. 

gelato_cat

I would knock on the door and explain the situation, and see if they will give you an honest answer as to what's going on regarding their timeline.

If you get a second viewing and you still like it, you're well within your rights to make an offer on this other house, and the estate agent is legally bound to pass that offer onto the vendors.

gelato_cat

Oops, posts crossed.  Put it this way, what do you have to lose by knocking on the door?

You never know, the vendors might be super happy to hear you're really keen on their house, and be eager to sort out a second viewing for you.

Might be best to explain the full situation, ie you've offered on the other house but the timeline isn't working for you, and you like their house more.  Just so they know for when they go back to the estate agent to hopefully arrange the second viewing.

ThisIsWeird

Hi kjs.

How far are you with this purchase - exchanged contracts yet? If so, expect some financial loss, but I'm sure you know this.

Apart from that, you are 100% entitled to change your mind and go for the better option. Yes, folk will be pee'd off, but that's the way it goes; with the English system, you can gazump, gazunder, and withdraw with impunity.

Some folk just won't do this, and that's fine; I hope they remain happy with what will be their second-rate choice. Because your friend is right - you will always look longingly at that other house and ask yourself why...

The current vendor has stalled you. You owe them nothing. Had they proceeded apace, it would have been a fait accompli, and you'd be almost in. But they didn't, and in the current climate, that was very foolish of them.

Yes, the EA is going to be reluctant to accept the alternative, because ALL they want is a sale, done and dusted, asap - one more off their books. That's it for them. Nothing else matters, certainly not you. And they thought this one was just that, d&d'd. It's now more work for them - the new house sounds like a cinch to sell, but they'll have a lot more issues with the one you are currently with, possibly (almost certainly) also necessitating a price drop.

So, insist on a viewing, and if they hesitate, go visit the house and explain. You don't have to even mention which is the other house, only that you had an offer accepted, but much prefer yours - but the EA is trying to discourage the change.

Of course, there's no guarantee that this new place will run smoothly, and you may be gazumped or whatever, and you can certainly assume the EA won't be on your side; many are petty, even when they have no right to be.

kjs31

ThisIsWeird said:

Hi kjs.

How far are you with this purchase - exchanged contracts yet? If so, expect some financial loss, but I'm sure you know this.

No exchange yet. Not even a suggested date from the seller. And yes in this market I think they were foolish. I got a really good price for my old house with the condition that we concluded the sale in 6 weeks. I knew that the market was heading into challenging territory so I just packed up and moved out. 

NameUnavailable

kjs31 said:

NameUnavailable said:

As for the other property, I would drop by and knock on the door - just be up front and tell them what you're thinking. If they are saying they're not looking to actually move until next year you know that it's probably better to stick with what you have. OTOH if the agent is spinning lies to keep your sale on track both you and the vendor will know!

Thanks! Trouble is, now that I’ve seen the other property the original one just doesn’t match up. Had we exchanged and it was all done and dusted it would have been game over but my nephew hit the nail on the head when he said “every time you drive past that house you’ll wish you had bought it instead of the one you bought”. I may go tomorrow night and knock on the door. 

Well if you feel that way about the 'new' house you really should go for it. Nothing to lose by dropping by and knocking and having a chat. Good luck!

Mstty

As I see it the sellers have given you the opportunity for a way out morally.

They are delaying the process so you have liked around and found another viable option.

One caution how would you feel if pulling out of house A (currently in the process of buying) results in you offering on House B but for some reason that falls through and you end up with neither.

Bit of a gamble, hopefully low risk, but whatever happens what's meant to be us meant to be.

Knock on the door.

Flugelhorn

kjs31 said:

ThisIsWeird said:

Hi kjs.

How far are you with this purchase - exchanged contracts yet? If so, expect some financial loss, but I'm sure you know this.

No exchange yet. Not even a suggested date from the seller. And yes in this market I think they were foolish. I got a really good price for my old house with the condition that we concluded the sale in 6 weeks. I knew that the market was heading into challenging territory so I just packed up and moved out. 

interesting that the developers have not made your vendors exchange and hence tie them into the purchase of the new build - this is often done and everyone has to complete "on notice" - just makes me wonder if they really are buying it or still considering it ?