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Should i give more time for the collapsed chain?

(4 Posts)
itdc Sat 20-Jun-15 14:59:01

Late April: we made an offer to a house in the local area (London) and the offer was accepted. we were told that the forward chain has formed and just wait for us to end the chain.

May: we put our house on the market and secured a first time buyer within three weeks but then were told that the forward chain has collapsed and need to wait for our vendor to find another property (in London)

Until now our vendor still haven't found anything, neither have they instructed their solicitor to progress with our buying transaction (search/survey) as they don't want to incurred any cost on their end until they found something. So there is little thing can be progressed from our end. Nor they want to take the house off the market or give us any indicative timeline etc.

I start to feel frustrated and not sure how much commitment the seller has to sell and have no idea how much longer the chain can be formed. I have been looking other houses in past 2 weeks and found something interested in (2 of them are chain free). Would it be sensible to try to put an offer to other houses (through other agents) or I should stay put and give the seller more time?

scarlets Sun 21-Jun-15 15:31:07

It's sad for your sellers, I sympathise with them and they're probably searching hard. However, you don't want to risk losing your buyer. I'd tell your sellers that if they aren't in a position to proceed by the end of June, the deal is off. It might galvanise them into renting.

itdc Sun 21-Jun-15 19:23:54

thanks for the reply. I agree it is sad for my sellers. But is it normal for a seller not to issue memorandum of sale to my the solicitor nor take the house off the market if they have agreed offer from downward proceed-able buyers? I know there is cost involved in my end too, but currently everything has to be put on hold but wait. This makes me worries as i don't see how much commitment the seller is willing to make the deal.

We keep asking if he sellers can give us any indication of time line but there is no answer, but your suggestion is good i guess we should be tougher and give them a deadline.

Would you think this is good to communicate back to our seller and ask them if they have any timeline in mind too?

scarlets Sun 21-Jun-15 19:32:13

The lack of memorandum sounds odd to me, in my limited experience. Keeping the house on the market isn't usual etiquette either. I would definitely ring the estate agent tomorrow with a deadline. I would make plans to view the other properties at the weekend too.

Sorry you're going through this. It's such a pain.

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