Have an offer on our house - no where we want to buy

[audley]

Just curious to know what others would do if they were offerred a decent price for their house but their deam house had just been sold and there's very few places up for sale in the right location. I suppose my question is do I accept and rent or do I ask them to wait or what? I adore my house but it is simply too small so we must move but I am worried about getting something that's not right because there is so little for sale or if we rent will prices rise imminently so we lose out financially? Sorry for the ramble!

[Sidge]

I would accept a good offer, put any equity into a suitable account and rent in the area I would like to live. This would mean I could take my time and find the perfect house in the ideal location.

[UniS]

any leads on a "suitable acc"???
I could have writen the OP,
Word from the coal face- seems we are a few weeks ahead of you. Try and get a rental property sorted sooner rather than later. We are having a mare, landlords messing us about and time is tick ticking towards completion.

[pattymc]

hi audley we could be in a similar position shortly as our place on market and sure to get an offer soon as we live in good location but just no properties that are quite right to buy - if we get a good offer I would def be tempted to rent and then be in the best position to snap up the property we really like before anyone else.

[nickytwotimes]

Accept the offer.
I don't get this reluctance tbh.
You are doing bloody well to get a decent offer.
We sold 7 weeks ago for 30 grand under what it is 'worth'.
We just withdrew from buying a house because the sellers were buggering us about with dates.
Get real and rent for a while. Puts you in a good position for buying anyway.
IT IS A BUYERS MARKET.

[Northernlurker]

Take the offer, rent and see what appears. You will be in a good position to bargain on your purchase and cash in the bank is better than cash tied up waiting for someone to free it!

[Jux]

We sold our London flat with no idea where we wanted to live, let alone anything else. We lived in our camper van for 7 months looking at parts of the continent and bits of England. Settled finally in Devon.

'Twas fun, but a bit stressful towards the end. I wanted to be in a house by Xmas and it was end November when we found the one we wanted. The solicitors had a race with each other to see who could finish in time! We got in just in time; one of the best Xmas's ever.

[HerHonesty]

depends on where you are and whether you think a dream house will come up. and how bad the house you are in at the moment is.. sorry not enough info!

[bran]

We did this about 9 years ago. We had a fab offer on our house but the house we wanted to buy fell through, so we moved out and rented. It worked very well, not least because we tried renting in an area that we weren't sure we wanted to live in and found that we loved it. Then we were in a great position as buyers because we didn't have a chain so we were very appealing to sellers.

[Speckledeggy]

If it's a good offer and it feels right then accept it and rent if you have to. If you dither you may lose your buyer then who knows how long it will be before the next one comes along.

The right house for you will come along (probably tomorrow after you've accepted the offer!).

Good luck

[Rox73]

You could also see if your buyers are willing to exchange with a delayed completion to give you a little bit more time. We're in that situation now. We're (fingers crossed) very close to exchanging with a delayed completion of no later than beginning of Nov. If we can't find a place to buy before then we'll rent. If we find a place before then, then we have to give our buyers at least a weeks notice to agree a completion date.

[MarquesDeLeon]

Stay put. We sold six months ago (took quite a hit) and are now stuck in a very expensive rental (not as nice as the house we sold) which we have just had to renew the lease on as there is nothing to buy. We are in an excellent position so finance has not been the issue. I miss my lovely (but too small house) which cost us nothing to live in and if I could turn the clock back would have sat out the current market. Sorry.

[somewhathorrified]

Definitely sell and rent. The position it puts you in is amazing. Your bargaining power when you have no chain can make all the difference. Start looking for a good rental place and don't settle thinking you won't be there long, you never can tell how long it'll take for a house you really want to turn up.

[noddyholder]

We sold and rented best thing we ever did!

[goldenpeach]

Renting helps you decide if you want to live in an area or not. Rent with garage and you have free storage too.

[swineofthetimes]

Agree with nicky (we are in an identical situation). It is still a buyers market. With unemployment and national debt as they are how possibly can house prices start to rise?

If you're serious about selling then accept, and look for a rental property.

[Ripeberry]

It is MUCH less stressfull, to sell your house first, then rent and then you can find your 'perfect house' and be in a good position as you will have no chain.
I just don't know how people can cope with the stress of being in a 'chain'.
When i moved in with my then BF now my DH, he sold the house two years later and we moved back in with our parents (paid them rent) and then almost 8 months later we found our perfect house with no chain and moved in within 3 months of first visiting it!