Might have a buyer but not ready to move yet!

[Dotty342kids]

Hi,

Briefly, we've been talking about moving to a new area approx 2.5hrs away from where we are now (but one I know quite well) for the last month or two as it's much nearer husband's head office where he's spending increasing amounts of time. Got a valuation from local EA and were thinking of putting house on market after Christmas with view to moving in the summertime next year.
However, this week someone approached the EA looking specifically for a house like ours, in our road, so we agreed they could come and see it. And now they apparently love it and want to put in an offer (subject to an appt with their mortgage advisor on Monday)!
Whilst this is great in what's quite a stagnant market round by us i'm not ready to move quite yet! I am trying to think of what's best for kids and given that the market is pretty slow where we are was thinking that a move in June / July was most likely and would work well for children.
We've not even looked at any houses in the new area yet (other than on Rightmove) and I think these guys will be in quite a hurry as they already have a buyer lined up for theirs.
One major factor against quick move is that kids were really upset at idea of moving and whilst they're gradually coming around to it I think it would be best for them to see out most of this year in their current school, especially as dd (age 6) has SATS in May.
So............. I am thinking..... if their offer is acceptable should we a) say, yes please, we'll take it off the market and accept your offer but we don't want to go till June or thereabouts so can you find somewhere to rent for six months.
b) accept their offer and we move out into rented in the town we are now so that kids can finish off this school year before we leave
c) take the plunge and find something to buy in new town asap
d) there's another cunning plan that you mumsnetters are going to come up with

What would you do and why?

We are in a similar position - have accepted an offer but there is nowhere we want to buy. It's the wrong side of Xmas to be house hunting. I would go for option b). This gives your children continuity, puts you in a strong position as a buyer and gives you time to look for somewhere in your new location and still hopefully be in a new home by the summer.

We're going to have to move into rented for 6 months I think. I think it buys us time and we're so pleased to have an offer that I don't want to risk loosing it by taking too long to find somewhere to buy.

Yes, I'm leaning in that direction too. Congrats to you for finding a buyer too, not easy in current climate!

the way prices seem to be falling if I were you I would sell now and take their money and get into rented for a while. You may find your money buys you so much more in a year or so if prices keep falling.

Option b maybe, or stay put for now. I doubt any buyer would commit to a property with a six-month time-lag

However, make sure that before you do anything at all, the buyers have actually got an agreement in principle for a mortgage otherwise it could all be for nowt.

I wouldn't worry about moving kids - they are adaptable and SATS are surely just for schools' benefit only (or am I missing something?!)

No, I agree SATS not the main priority, but giving the kids a bit more time to adjust is..... I know they're seeing mortgage advisor on MOnday so fingers crossed. Am def leaning to the move out and rent for six months, then move option the more I think about it. Just got to work out how to get a work broadband line in a rental property for six months. Hmm......

I would go for option C. In fact I have gone for a modified version of option C. DD didn't want to move at all, daily complaining about it, but now we have actually moved she just getting on with it and is quite happy. I had no particular reason for staying and didn't want to hang around all winter somewhere I'd decided I didn't want to live. Also house hunting is way easier if you are actually living in the area - I was only moving about half an hour away and I was finding it exhausting going backwards and forwards as it took me ages and a lost sale to find the house that I am now buying.

But, whatever you decide to do, definitely take the money and go. It is a bit of a hassle but takes so much of the stress out of buying again in lining up chains etc. and if property prices decrease you will have made some money. I would also say that I'm not sure how important SATS are, especially if you did decide to move schools you move at least a couple of months before them so she gets the preparation at the new school.

I've been the buyer on the end of this situation. However, our vendors accepted our offer and then just did... nothing. We put the offer in August. We phoned the EA weekly, and just had- "they're very relaxed vendors, waiting for their dream house".

...Unfortunately for them, we've put in an offer on another place last weekend. We don't want to rent for any longer then we have to (we moved into rented because we had the perfect buyers previously).

Long and short, whatever you decide, please tell your buyers what your intentions are!!!

PPT, that's awful to keep you hanging like that!
After a weekend of soul searching we've decided that actually we're going to stay put and not move. I think, although obv I feel sorry for the people who came last week and loved the house, that had we gone with original plan of putting house on market after Christmas we'd have had the time to think this through. It was just unfortunate that it was them coming around to view that made us really think about what we were doing, much as we'd talked, talked and talked some more prior to that!
So, house off market and, for a while hopefully, we'll be staying where we are.
I know it's never nice to be mucked about so we phoned EA at 9.30 this morning to tell them asap....