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Vendors's contract received. Vendor still searching for a house

(4 Posts)
househunterftb Wed 29-Mar-17 16:47:05

Hello everyone,

Any advice or suggestions would be highly appreciated!

Basically we are First Time Buyers and have our offer accepted on 11th March roughly. We got to know from the estate agents then that the vendors would be now looking for houses. So we decided to actually put this on hold till the vendors find a house.

We are continuously in touch with the EA, and they are telling us that the vendors are actively looking. So we are unclear about the chain yet!

Now just, I got a call from my solicitor that she has received paperwork/draft contracts from the vendor's solicitors.

Where does that leave the sale? Does that mean vendor is happy to proceed? Its confusing. Why would they instruct their solicitor to proceed if they haven't found a house yet.

I confirmed from the EA the day we got our offer accepted. The vendor would want to buy and sell the house simultaneously and wont consider moving to a rented place. That's the reason, we still haven't applied for a mortgage (to avoid evaluation fees) and haven't instructed solicitors to proceed (to avoid searches fees). We have a mortgage in principle and our mortgage adviser is confident.

But having received contract from the vendor has got me thinking!

What would you do in this case? Just need as many opinions as possible.

Regards,

househunterftb!
Quick Reply Thanks 0 Edit PostQuoteMulti-quote

specialsubject Wed 29-Mar-17 17:05:59

It is as they say - they are looking. Could take months.

LIZS Wed 29-Mar-17 17:10:55

They are looking and still intend to sell. As you are ftb they feel no time pressure. Draft contracts are just that, even if you subsequently pull out their solicitor's work could largely be reused.

dancingqueen345 Wed 29-Mar-17 17:11:56

I'd ask the EA what kind of assurances you will be given timescale wise to ensure you don't waste your money.
Maybe an agreement from the vendor to cover any abortive searches fees in the event that it doesn't complete within 6 months.

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