we have a buyer lined up for our 2 bed flat. he's all ready to go.
the people selling to us just decided to pull out of the sale 2 days before exchanging.
I'm 4 months pg and work full time in W.London (an easy commute from where we are)
DS is settled in a great cm
Dh needs an operation after which he'll be immobile for 6 weeks.
So, do we...
a) beg our buyer to hold on while we frantically look for another house to buy? Is it a buyers market? this might happen quite quickly, a bit risky though as he may refuse.
b) if he refuses to hold on say see you later and keep looking for both a new house and new buyer (plus side of this is dh can have his op, ds can stay in childcare, I can keep my easier commute - downside is may take ages to get another buyer, it took us 3 months to get this one)
c) sell to him as good buyers are hard to find (his money is all lined up, surveys done etc) and move in with my parents for a while, and hope we find somewhere soon(downsides - it's a longer commute for both me and dh, though he might have his op by then and not have to commute, we'd have to find some childcare for ds, my mum can do some days but they're on holiday for three weeks in July - I could take leave I suppose but might not get it at this short notice, living with his in laws isn't dh's idea of heaven even though he gets on with them well enough. Upsides, we'd be saving around £1400 a month on mortgage and childcare costs)
Our mortgage offer is open to the end of Oct (the rates have all gone up since we fixed) so we've got some breathing space on that.
I've got too many choices swimming around my head and need some perspectives.
Off to bed now as I'm on nights but I'd love to know your opinions.
I would move into either rented or your mum's then carry on looking. Having had the money from your flat you'll be a chain-free cash buyer so will be in a fantastic position to get a good bargain on another house.
Interesting, so far the opinion is to move in to rented or my parents.
dh and I are pretty agreed we're going to say to our buyer that we'd like to go ahead and exchange and if he's willing we'll complete say 6 weeks later giving us time to find somewhere. If we have to go to my mum and dad's for a couple of weeks it'll be a pain but bearable.
The problem of going in to rented for longer term is that the rents are much much higher than our mortgage as we have a lot of equity. for the same as our mortgage all we could find are tiny nasty ex local authority places miles from anywhere in rough areas. So I'm less keen on that.
Plus we have a really good mortgage offer on a rate that is no longer available as they're going up, and that offer is only valid until 30th October, so I'd rather buy, even if it means being at my mum and dad's or somewhere like that, than stay in rented for 6 months.