To pull out of house sale?

[EmM300725]

Hi all,

looking for some advice! We had an offer accepted on a house back in December, sellers are still to find somewhere. Nearly 6 weeks later and no real development. Our seller has said she has looked at everything in her budget and cannot find anything suitable - she’s selling due to divorce and doesn’t have many funds. She offered on something 3 weeks ago, offer was rejected and she could not increase. She’s now offered on somewhere else but they are basically waiting to see if they get a better offer before accepting. They also need to find somewhere themselves. She’s also refused to move into rented or in with family and has said we just need to wait for her to find somewhere.

We had agreed to wait until end of Feb for her to find somewhere, before we start looking. However we have been contacted by an estate agent about a house we previously like which has gone back on the market - it sold before we could offer previously - this house has no onward chain.

We did go and view this house and we really like it, even more so due the fact it has no chain. Our buyers are FTB so it would hopefully go through quickly!

My question is, AIBU to pull out now, even though we said we would wait? To further complicate things, we have the same estate agent, so I don’t feel I can speak to them and get advice as they are working in both interests!!

Any advice would be helpful :)

I would be looking very closely into why your preferred house is back on the market so soon after being sold. Was it SSTC but the sale fell through, or did did the sale complete and it's straight back on the market?

That sounds like an absolute nightmare tbh. Imagine doing that with children, schools and pets etc
We don’t really have many short term rentals either.

Only you can answer that.
tbh I think the seller of your house is trying to move. She’s offered on a couple of places so she’s actively looking and trying. My son is trying to buy a house at the moment and it’s a nightmare. Every house he books to view is gone before he even gets there and also with a limited budget, there’s only x amount of houses to go round. I think it’s a little unfair to bring into the argument about her limited budget…everyone has a limited budget whether it’s 250 or a million, everyone has a cut off point that they can’t go ahead with more. I’m sure yourself you only have X amount and you only liked at houses in your X bracket.

Personally I think you’re expecting a lot to be able to get her to find a house in 6 weeks. It’s actually a very small amount of time. And with Christmas included in that where nothing goes on really.

i do think however at the end of the day you need to do what’s right for you. If the other house is absolutely it , then go for it. If you can’t wait around any longer then that’s your prerogative. We’re all adults to make our own decisions and if that is the decision for you then you must do it. Sure it will fit shit letting the woman down but someone else will come along for her. All these things work out in the end.

I last moved house 10 years ago. I sold my house in the September and I didn’t find anything until the march and we all moved in the June. No I wasn’t prepared to rent and I kept my buyers informed every step of the way. They knew when they offered on my house, I was looking for a very specific type of house in a very specific area. In fact they went into rented into the end to wait for my house. Whilst yes I was very grateful for them at the time, they were free to go elsewhere at any time. And I’m sure they must have looked, I don’t know. But clearly they wanted my house that much.

all you can do is decide how much you want her house. If your immediate reaction is no I don’t, then pull out. If you are going to pull out, do it asap, it’s only fair to everyone involved

Can't see the Brits going for that, I wouldn't, I'd just stay out - then no one would move.

As nice as it is to consider other people this is a house. The biggest and most expensive thing you can own as well as somewhere you need to feel happy, safe and secure in. It needs to be right for you.

Do what you wish do to and don't worry.

I would hate that, what a terrible system. And like I said above that I suspected that it involves a lot of irritated relatives having to put up a family member for unknown periods of time

What happens to pets, children at school, jobs?

Quite a usual situation among our friends and family. You hear all the time - waiting for the people in the chain to find something, someone can’t find anything and is pulling out, we’re pulling out, the survey indicated this and that - and so on. Pull out if the other house seems ok.

Years ago we had an offer accepted on a house after a bidding war. The lady selling was looking but hadn't found anywhere. We were in no rush so said we could wait. We then viewed another house a few doors down and had an offer accepted on that one. We didn't plan to pull out of the first house until the second had gone through. In the end the agent rang us to say she was struggling to find somewhere and was taking the house off the market - she's still living there now 20 years later! Our purchase of the second house went through with no issue.

In your situation I'd do the same. At the moment you've not spent any money and aren't committed to anything, so do what is best for you.

When DC will be changing schools, moves tend to happen in the summer.

People start working with EAs early and a lot gets done before houses are listed so that sales can proceed quickly.

Or as PP said the sale can be completed and if the buyers don’t need to move right away the sellers can ‘rent back’ - in America this is a standard process.

Good EAs tend to be plugged in to rental networks. Etc.

If you want the other house, go for it. Your seller has plenty of options if she wants to facilitate her sale like moving out into rented accommodation while looking. But instead, it's all for her convenience not yours.
If you prefer her house then maybe stick with it. But be warned, she is probably 'not finding' something deliberately and it could go on for some time.

Of course it's to do with being fussy - she wants more than her budget allows. Wishing and hoping for her dream house to appear in her budget isn't helpful.

I'm always intrigued by comments like this because I don't understand what could possibly be changed to help the situation?

Someone is selling a house and can't find somewhere to buy - what reform would help?

You’ve been more than patient. I’d pull out.

Do it.

Being held to a deadline concentrates the mind. The thinking in cultures with a different approach is that you don’t market your house until you are serious about moving, with a time frame you can stick to.

The seller does not sound in a rush to move but that’s not your problem.

I’d offer on new house.

That makes sense, thank you!

I guess there’s positives and negatives in both systems.
Ours has the possibility of a short term inconvenience of moving/not having found next property (negative) but the certainty of timing, sale going through (positive). I genuinely can’t imagine the stress of chains collapsing or not knowing if/when a purchase will go through. I can’t imagine the frustration of wanting to sell a house and still being in the house over a year later.

To answer your question, it depends where people are moving to. It’s a large country and distances are vast. If you’re moving in the same region then jobs and schools are not affected. If you’re moving far for work, it’s not unheard of for the company to pay relocation costs and help with housing initially. My sister moved from QLD to WA and the company packed her house, arranged a rental and also provided a person to help them find a house to buy and recommend areas and schools. Otherwise, like PP said, moves tend to happen at end of school year so child starts the next grade at the new school, Pets stay with you? They’re allowed in rentals and most caravan parks, I guess you could board them but no one I know has ever mentioned an issue.

No, not unreasonable at all. You entered into this with good intentions. Also know, your current estate agent wouldn’t hesitate to contact a previous viewer on any one of their houses to try and restore the sale so they can’t really be too upset by this happening here

If you like the other house put an offer in and see what happens. I wouldn't pull the offer on first house until your second one is accepted and your moving forward.

I suppose I cant help apply to this country where rentals are few and far between and landlords will choose a family with no pets and no or only older kids as a preference meaning you might be scrabbling to find a rental. And that is on top of the fact that you're then tied into a fixed term

This is where airbnb comes in handy I think, you could find a property to rent for 3 months, not tied in, its just a 'holiday let', easier to take kids and animals with you.

A lot of upheaval though, I wouldnt move somewhere temporarily.

Fair enough, but the thinking in many countries is - then don’t market your house. Stringing your chain along is considered disrespectful in these cultures (and prohibited by the nature of sales contracts).

You can always try to negotiate a fixed term rent back agreement in the sales contract.

Yes I would pull out. Open ended purchases are a nightmare. If you have the chance of a property with no chain that you like go for it. The seller is being unrealistic thinking buyers will wait until she has her ducks in a row as they have chains behind them too. Only two questions really. Which house do you prefer and if your seller can’t find anything how long will you wait?

This ^ @poetryandwine 's answer