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What is a fair amount of time to give someone time to buy...

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RedfordML
RedfordML Posts: 904 Forumite
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in House buying, renting & selling
Having had an offer accepted?

I appreciate no exact answer, but what time did you give your vendors to find?

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  • crisp
    crisp Posts: 435 Forumite
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    I would give 1 month maximum to get an offer accepted.

    Any serious seller would have done a lot of research and shortlisted possibles. Anything else and they are idiots
  • Davesnave
    Davesnave Posts: 34,741 Forumite
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    crisp wrote: »
    Anything else and they are idiots

    Oh dear, I must be an idiot; it took me 6 months to find this place!

    It depends how specific the person's requirements are. A stepping- stone house should be quicker than one intended to be owned for a very long period.

    A 'fair' amount of time to wait is not 6 months, though. It's shorter than that, but probably more than a month. It really depends where the rest of the chain is, assuming there's one.

    I went into rented, which solved a lot of problems.
  • nicos42
    nicos42 Posts: 63 Forumite
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    I ve been waiting for nearly three months but i found another house now.
  • Debtslayer
    Debtslayer Posts: 447 Forumite
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    Personally I would say 2 months, but it depends how much you want their house. Are sellers prepared to move in with family or rental as they don't want to lose buyer?
    Current Mortgage 01.10.17 £113,513.88
    MFW Start Mortgage: £114,794.64
    Current MED: 2036:eek: Target MED: 2026 ;)
    Overpayment Target for remainder of 2017: £2,000
    Mortgage overpayment savings: £684.80
    MFW No 124 :money:
  • crisp
    crisp Posts: 435 Forumite
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    Davesnave wrote: »
    Oh dear, I must be an idiot; it took me 6 months to find this place!

    It depends how specific the person's requirements are. A stepping- stone house should be quicker than one intended to be owned for a very long period.

    A 'fair' amount of time to wait is not 6 months, though. It's shorter than that, but probably more than a month. It really depends where the rest of the chain is, assuming there's one.

    I went into rented, which solved a lot of problems.

    how soon before you moved into rental ?

    The problem is people that look half heartedly without the option of a rental or family if possible.
  • Davesnave
    Davesnave Posts: 34,741 Forumite
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    crisp wrote: »
    how soon before you moved into rental ?

    The problem is people that look half heartedly without the option of a rental or family if possible.

    We went into rented as soon as we sold, as there was nothing interesting available to buy. We knew what our particular market was like and we expected the search to take anything up to 18 months.
  • csgohan4
    csgohan4 Posts: 10,587 Forumite
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    you should ask yourself the question, how long are you willing to wait on someone
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • Rambosmum
    Rambosmum Posts: 2,445 Forumite
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    edited 9 October 2017 at 9:41AM
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    crisp wrote: »
    Anything else and they are idiots




    We must also be idiots. We saw hundreds of houses, put in several offers, but we were in a very fast moving market and other buyers were putting in silly money offers, well above asking price.


    We had some offers through which later fell through for many different reasons.


    In the end, it took us 5 months before we had an offer accepted on the house we eventually bought.


    OP - how much do you like the house? Are there other properties of a similar type/ price/ that meet your criteria. How long are you willing to wait?
  • hazyjo
    hazyjo Posts: 15,470 Forumite
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    Our buyers offered on 19 June.


    We had an offer accepted somewhere on 17 July.


    The rest of the chain was complete on 10 August.


    Ours sounds like a fair timeline. Depends if the rest of the chain needs forming. If we hadn't got the house we're moving to, I'd prob still be looking! There have been 2 or 3 maybes since, but they would have been compromise-houses.
    2023 wins: *must start comping again!*
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