what to do?

[BramblyHedge]

We made an offer on a house in July after accepting an offer on our house. The process has dragged and dragged for no determinable reason and everyone is fed up. Our sellers seem to drag their heels. Today we found out there is a problem with the deeds which will take time to sort (it is unregistered land). Our buyers are not threatening to walk.

We were all hoping to move before Xmas. Were talking of exchange and completion next week. We are bursting at the seams in this house (3 kids in a box room). Should we rent? If we lose our buyer then we cannot proceed anyway so it might be best to keep our buyer? Any thoughts?

Crying...

Should read that our buyers are threatening to walk...

In someways it depends on how likely it is that you will get another buyer. Also if the house you are trying buy falls through do you still want to move? If it is less than certain you would get a new buyer and you would want to move anyway, yes I would rent. If you think your current house will sell really easily, or you wouldn't move if it wasn't for the house you are trying to get then don't. If you do decide to rent- you also have to work out if it is possible. Are there rental properties available nearby? Can you afford to rent (are rents affordable). If you do rent make sure any equity you get out of the sale works as hard as possible. If you are out of the house owning market too long the really low interest rates coupled with increasing house prices (depending where you are) could error the value of your deposit. We have rented between properties and it has worked well for us.

Thanks for your thoughts. We have to move and the one we are buying is a practical choice but not our dream house. We can afford to rent and there are a couple in the area. Good point about making our money work for us. At least three neighbours are selling after Christmas so I'd be reluctant to put ours back on the market.

I think it will be renting

Thanks for your thoughts. We have to move and the one we are buying is a practical choice but not our dream house. We can afford to rent and there are a couple in the area. Good point about making our money work for us. At least three neighbours are selling after Christmas so I'd be reluctant to put ours back on the market.

I think it will be renting

Hi Brambly, I could've written your post last Feb. My sellers dragged heels/no impetus after a sale agreed in Nov but it seemed that everyone in the chain (5) really wanted the next house so it didn't fall through and we finally moved in May. My house also had unreg land which the E agent failed to mention to us (wouldn't have put in original offer as complicated plot). Perhaps sellers are frightened of solicitor costs? Don't give up, if you really want it, try and get one of the agents to do their job and get it sorted! Good luck!

I guess the sellers could be put off by cost. I only found out it was unregistered when I looked it up on the land reg website. Nobody told us either. The problem we have is that Mrs buyer loves our house and Mr buyer is a bit more meh about it so I worry they will pull out if this drags.