AIBU to pull out of this sale? Is 9 weeks too long for a vendor to find an onward purchase?
We’re desperate to relocate to be closer to family, my unwell sister, a new job and for better schools. It took seven months and 4 price reductions to go under offer on our home.
It took us 10 days to find our onward purchase. We offered £5k more if our seller broke the chain and moved into rented, which he refused. We ended up paying asking price anyway to secure it . We wanted to start conveyancing process even though chain wasn’t complete, again seller refused to instruct solicitor until he’d found somewhere.
We made it clear in writing that we were happy to wait a reasonable amount of time for him to find an onward purchase, but we weren’t going to wait forever because we had secured a place in a now oversubscribed school for my son, and didn’t want to lose it.
Fast forward 7 weeks and he still hadn’t found somewhere. Our buyers are getting impatient. We tell the estate agent we’ll wait another 2 more weeks then start looking again, or sell and go into rented ourselves and pull out of the purchase.
Those two weeks pass, we saw an even better, cheaper property, warn our first vendor’s estate agent we’re going for a second viewing. Loved it even more after second viewing.
As I’m about to make an offer on second house, first estate agent calls to say vendor has found somewhere chain free.
YANBU: to pull out of our first sale, we like second property more, 9 weeks is an unreasonable amount of time to wait for onward purchase
YABU: you morally committed to the sale, 9 weeks is a reasonable amount of time to
wait to find somewhere to purchase