House purchase taking too long - should we let it go?

[Cuteasa]

Hello. We are buying our first ever home after being in rented forever. We've found the house (vacant posession, probate sale), had our offer accepted, had surveys etc back, finances lined up and are all ready at our end. Suddenly we've heard that the vendors don't have the grant of probate yet, and it's going to be a minimum of 4 weeks from whenever the accountant finishes valuing the estate. So realistically a couple of months, or more?

Does anyone have any experience with how long probate can take?

Our big problem is that DH has a 4 month overseas posting coming up in June or July. We were hoping, back in early February when our offer was accepted with the vendors saying they were keen for a quick sale, that we'd be completing about now and would have a few months to sort out the house (it needs a fair chunk of work inc a new kitchen to make it liveable) before he went away. Now it looks unlikely that we'll be in before he leaves.

We have a 6mo DS - I'm not sure I can take the stress of moving into a new house in a new area (only 15 miles from our current area, but even so) and camping out in it/trying to tackle the diy jobs solo.

What would your advice be? Give up on the house and start looking again in October (by which time prices will have risen, DS will be mobile and I'll have had 4 months with no help with DS because our current flat isn't big enough for family to come and stay and help me). Or go for it?

It's not our dream forever home, so we're not too emotionally invested, but a good doer-upper that'll give our family some space to grow into over the next 5-10 years.

Has anyone been in a similar situation? How did it work out for you?

A house purchase often takes longer than expected - there's always something that slows it down. So even if you found another house you want, it wouldn't necessarily be quicker - you'd be starting from scratch. Presumably you would also lose the money you've already spent on solicitor, survey etc?

Can you afford to keep renting while you get the work done, so you don't have to move in until it's finished? That would make it less stressful with a baby.

It's frustrating but you just have to wait it out. It will be worth it in the end!

I viewed a house that was new on the market with owners who didn't have probate yet. My offer was not accepted in the end, but it took about 5 weeks for probate to be granted.

AnotherEmma It might be a good idea to have a few months overlap to get some work (kitchen) done before we move, so depending on how long it actually takes for probate to come through we could be in a situation where we don't complete until August, then DH can come back two months later when the house is in a state that we could move in.

Alternatively it might just take 5 weeks like sianihedgehog's house and DH might just about be in the country long enough to help us get moved and settled.

I just wish I knew which way it was going to go!

Personally I'd stick with it but apply some (realistic) pressure re timescales so they don't take forever to value the estate etc

If you can afford it, a slight overlap between the two would be good and gives you time to do essential work.

Did you get any indication of how complex the estate was? They might just need to get bank accounts closed etc

I just bought a probate and it took 6 months including the grant of probate. The process was straigtforward but just slow. I would probably hold on if I were you because your alternatives of renting and waiting will also give you stress.

I would not worry about prices rising. They are falling everywhere and For Sales are piling up, esp. probate.

Explain you situation with the vendor. Explain you are annoyed that they have not kept their side. Lay out a realistic timetable and get buy in for some sort of penalty - price reduction, they pay some of the rent.

Assuming you can afford it, its makes sense to stay in rented for a month or 2 whilst you sort the house out esp. for a probate, which normally need gutting.

Prices are rising where I am - up 9.8% in the past year, and continuing to increase now.

you need to put the pressure on, probate doesn't have to take that long if everything is in order.

When we bought our first house we put in an offer on the Saturday, and the owner died the following Tuesday and we still owned the house within 10 weeks, and that was with delays from our end thrown in.

OK the guy who died was terminally ill and his daughter was a solicitor and so they had done much of the work in advance of his death but still, it demonstrates that if the solicitors want to, they can push things along.

Id stick with it if I were you though, if you pull out and start again you probably wont get anything else in the timescales you describe so will be no better off.

One piece of advice is that if you do find yourself having to do the move while DH is overseas then use a packing service. We moved last week and we lived normally up until the day before the move and then they came and packed for us. DH was also working away that week and id never have managed on my own with a 1 year old either. Cost about £300 but worth every penny.

Sounds like I need to be chasing them then and giving them our deadlines.

The previous owner had purchased the house with a view to doing it up and letting it out, so possibly he had other BTLs as part of his estate which could be holding up the valuation.

Thank you BasinHaircut for the tip on packing services.

I'd be quite annoyed at the vendors for not disclosing that they didn't have the probate completed. A delay of around 4 weeks doesn't sound too bad in the grand scheme of things. Or even 6 weeks but you don't want it dragging on for months.

Just to add it's anybody's guess of course but I think it's unlikely prices will rise very much in the next few months.

Prices may or may not rise (it depends very much on where you are, as well) but one thing is for certain - if you pull out now, you will be back to square one at an already busy and stressful time for you.

My advice would be to chase your solicitor, be patient and see how the situation unfolds in the next few weeks.

I've moved 4 times. It's always taken about 6 months to complete even on vacant possession. I do think your timescale is a little unrealistic.

Also house prices are going up round me not down

Yep prices rocketing round here too. We've just moved and the house we sold increased in value by about 5% in the time between we accepted the offer and completion. The one we have bought has probably increased by 10% in that time.

Out of the seven times we've moved, the longest the process has taken is five months (but that was buying a house with four tenants, two of whom had to be evicted) and the last couple of times (2011 & 2014) it has taken nine weeks max from offer to completion with chains in both directions.

So not necessarily unrealistic timescales....

Nine weeks wow! that's amazing!

Why has it taken so long for me? There seems to be so many useless searches. Mining search! What's that even about? They shut all the mines 30 years ago

Orange - to make sure your house isn't likely to fall into a disused mine (seriously)

I doubt prices will do much this side of the election and then who knows? I'd pursue this one given how far down the road you are already

We lived in the flat that we were buying (we rented and then our landlord died). He died in Oct, we were advised in Dec, and given notice in March that his brother wanted to sell. We offered, they accepted- it didn't complete til November!!!!!!!!! Sorry, but sometimes it is long winded