Wanting to buy a different property

RelievedSheff

Flugelhorn said:

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 ?

Not all developers work in that way. We exchanged and completed on the same day with the new build that we are in now.

Flugelhorn

RelievedSheff said:

Flugelhorn said:

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 ?

Not all developers work in that way. We exchanged and completed on the same day with the new build that we are in now.

That is good to know! Have heard of some developers really pressurising people to exchange months before the property is ready

kjs31

Mstty said:

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.

I viewed 2 other houses in that road previously, neither of which suited me but houses do come up for sale there off and on. Gut feel currently is that I will be gutted if I don’t get house B, but house A not so much so I think that tells me everything I need to know. House B is more money of course 😉. Estate agent says that there have been 2 offers already on house B but neither have been accepted. I’m hoping to get it for 2.7% less than the asking price but could go up to the asking price if I really had to. I can’t realistically go higher than that but I don’t know if the estate agent is being truthful or not. They always seem to have ‘2 other offers’ 😉. 

I called the estate agent first thing. Woman in the office knew nothing about a second viewing being arranged but ‘will get back to me’. Still waiting to hear back. Suggested viewing date was supposed to be tonight but I’m going to drive over there anyway and knock on the door (or slip a note through the door if they are not in). 

kjs31

Flugelhorn said:

That is good to know! Have heard of some developers really pressurising people to exchange months before the property is ready

A few years ago now but I was made to exchange in January for a new build that I finally moved into in July. I hadn’t even sold my existing house at that stage but luckily it worked out OK. 

MeteredOut

OP, it sound like house 2 is the one you now want. Be wary that if you go back to the sellers of house 1 and say you're pulling out because they no longer want to move out until their new build is ready, what if they then say "ok, we'll move it, its all yours, here's completion/moving date". What would you do then?

Schwarzwald

kjs31 said:

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. 

if the EA is reluctant to arrange a second viewing for YOU, can you ask somebody else to enquire with the EA and view it again? maybe your partner or a sibling? EA doesnt need to know they are viewing on your behalf.

ThisIsWeird

MeteredOut said:

OP, it sound like house 2 is the one you now want. Be wary that if you go back to the sellers of house 1 and say you're pulling out because they no longer want to move out until their new build is ready, what if they then say "ok, we'll move it, its all yours, here's completion/moving date". What would you do then?

Kjs should ideally be frank and honest. In the time they've been waiting, a significantly better property has come up. That's it. 

gelato_cat

kjs31 said:

Mstty said:

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.

I viewed 2 other houses in that road previously, neither of which suited me but houses do come up for sale there off and on. Gut feel currently is that I will be gutted if I don’t get house B, but house A not so much so I think that tells me everything I need to know. House B is more money of course 😉. Estate agent says that there have been 2 offers already on house B but neither have been accepted. I’m hoping to get it for 2.7% less than the asking price but could go up to the asking price if I really had to. I can’t realistically go higher than that but I don’t know if the estate agent is being truthful or not. They always seem to have ‘2 other offers’ 😉. 

I called the estate agent first thing. Woman in the office knew nothing about a second viewing being arranged but ‘will get back to me’. Still waiting to hear back. Suggested viewing date was supposed to be tonight but I’m going to drive over there anyway and knock on the door (or slip a note through the door if they are not in). 

Don't worry about that.  Offer what you want to offer and don't think about what may or may not have happened in the past (because you don't have the full facts).  Then enter into a negotiation if needs be.  If you get to speak directly to the owner, you'll be able to get a feel for their situation and what they might be willing to accept.

kjs31

I rang the estate agent a few minutes ago. Still no news on a second viewing. I’m going to drive over there later and knock on the door. 

Slinky

Be wary of the EA trying to suggest that you are an 'unreliable' purchaser, and pushing the vendors to accept one of the other offers. They could suggest that the delays in the sale of A are down to your side messing about (for all you know). Be honest with the vendors of B, tell them that you have been delayed by vendors of A and that you are genuine in your offer.