How long to find house?(11 Posts)
I know this is very much a 'how long is a piece of string' question, but how long are you comfortable waiting for sellers to find a house?
We had an offer accepted on house about three weeks ago. At the time we were told the sellers had found somewhere and just needed to get an offer so they could put an offer in. They then decided the house wasn't for them. They didn't look at anything (according to the EA) the following week. The EA suggested they start looking, which they did, but they're now saying there isn't anything they like within their very small search area so won't be viewing anything else ATM.
What would you do in this situation, and how long would you wait? We really like the house, but we don't want to be in this situation for months, and we certainly don't want to risk losing our buyer.
I think I'd give them a deadline, particularly if house prices are increasing in your area. Whatever you think is appropriate - a month / 6 weeks? Say if they haven't had an offer accepted by that deadline, then they have the choice of going into rented (although they may agree to this then drag it out so they don't have to) or you walk away.
Thanks name. We have talked about doing that. I think we'll give them another week then talk to the EA. I know they are apparently looking for their 'dream home' as they now have a bit budget, but we can't be supporting their dream for the long term.
I think it depends on how much you want the house. I would keep looking if I were you: you might find something you like more. Until you find something you like more you might as well leave your existing offer in place.
'Dream houses' are notoriously tricky to come across..I would either suggest they sell and rent or consider selling and renting myself. And as HiD says, see if anything else comes up - no need to withdraw your offer just yet.
I would leave the offer, but don't progress with the sale unless they have had an offer accepted. No surveys, solicitors fees etc. Just tell the ea the offer stands, and you'll proceed when they're also in a position to do so.
In the meantime, keep looking. If you find somewhere that will move quicker, either use it to move your original sale or pull out.
It's a tough one because what if they found their dream home 1st but then didn't get a buyer for their place? They've done it the right way round IMO although should be actively looking for somewhere of course.
I would contact the EA regularly for updates to try and hurry them along
I am in this exact position. My house sold in a very popular area about 6 weeks ago with 12 offers on it. Buying is proving difficult as as it's so popular and there is a lack of houses (got to sell as separated from h) on the market. If my buyers give me an ultimatum I will simply say no and put the house back on the market. It very much depends on your local housing market.
We are chasing the EA (who is selling both our current house and the one we have the offer on) and, as he keeps pointing out, it is very much in his interest to get this sale through (I.e. Lots of commission).
I think many of you are right, and we won't actually withdraw our offer, as we are struggling a bit with finding houses we like. Technically we don't need to move in any rush, but I'm getting a bit stressed as DC starts school in september, as we'd obviously like him to start near the new house. Although we should get a place at one of the schools nearby, we actually need to be living in the area.
Unfortunately, it's not really an area we can rent in (very rural, few rentals) and we're worried about doing so anyway, as prices are still going up.
We had exactly this except our sellers were keen to move, it was their sellers who hadn't even started looking at houses. We ended up moving 7 months after our offer was accepted and almost lost our buyer but thankfully they were in rented and loved our house enough to wait. It's a pain in the neck but worth it in the end if you really love the house... so long as you know your sellers definitely want to move. Prior to this house we had an offer accepted on two different houses (not at the same time!) and in both cases when we pushed a bit more they pulled out of the sale... turned out neither party really wanted to move.
Ok here's what we did
March 2016 - offer accepted for a proposed June/July 16 completion. Told sellers willing to rent if they couldn't find somewhere (cross country move complicated by personal circumstances)
April - July 16 told repeatedly sellers will rent if required.
July 16 - damp survey highlights potentially 3-4K of work (sellers refused to move carpet to allow floor timbers to be inspected we suspect several are rotten due to flow movement) sellers refuse to drop even a penny to cover works give us 24 hour deadline to decide or they're relisting it. Needless to say we took a risk and said ok let's exchange. Sellers now refuse to exchange as they haven't found anywhere and point blank refuse to rent.
August - September 16 sellers find but lose out on several due to not being cash buyers. Absolutely zero communication through this period.
September 16 still refuse to rent, find a new property and have offer accepted. We ask for reassurances and are told to just deal with it. No further communication from seller despite chasing multiple times.
October 16 that purchase falls through. They find another property with a short chain due to a new build but that will be built by December so completion still in 2016.
October - December sellers completely ignore us, solicitors (seemingly their own too) and the estate agents (both lots).
January 17 - new build complete sellers still refuse to communicate regarding completion.
Feb 17 - propose multiple dates for completion. All rejected with no counter proposal, tell us to suggest a time at end of march.
March 17, proposed dates ignored. After weeks of chasing they finally respond directly saying they've sent a letter via the solicitor but that it's nothing to worry about.
1. Personal circumstances now worse and therefore not moving cross country.
2. They're starting to look for somewhere locally.
3. We just have to be patient/flexible.
Needless to say I was more than a little annoyed at this point!!!! Especially as the market has moved 15% in that one and we risk being priced out!!!
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