Can I have some advice? Complicated sale/purchase/rental and relocation decisions

[user1471530109]

I am single so don't have the normal option of talking this through with exH. I'm so stressed I'm not sleeping and tbh sick of this all going through my head.

After separating and now divorce, I started a new job a good 40 miles away. I love it. I moved the kids to a new school over there and we've been commuting ever since (2 hr round trip). This was always temporary whilst divorce was going through and I could sell the house.

House now sold. Should be exchanging Monday (been saying that for weeks). My purchase fell through! They decided not to sell. Unfortunately the area I'm moving too is much more expensive and houses in my budget close to dc school don't come up as often as I'd like.
I've seen a gorgeous house that's just wonderful. However, it's being sold by a Trust and they won't accept an offer until they've allowed it to gain interest to show they have got the best price for the Trust they can. Apparently there is a lot of interest and a few offers been put forward already. It's 'offers over' price is below my maximum, but the chances of me winning this bidding game are slim.

I'm expecting to complete on my sale in a couple of weeks. I currently have nowhere to go. I feel like I need to sign up for a rental. But I'm told the minimum is 6 months and the LL won't entertain a break Clause.

In the tiny possibility I successfully get this dream house, I will end up paying a mortgage and rent. Plus, other bills? Will I need to pay double council tax?

The timing of this is all wrong. I have three weeks until kids are back at school (and me, I teach) and I need us to be settled over there. I've looked at holiday lets and they are very very expensive. Plus, I will probably not get the house anyway! So will need to be in rented?

I'm so confused. So stressed and just plain sick of it all. Packers potentially coming a week on Monday and I as yet don't know where to tell the removals to take it to!

Has anyone got any similar stories where it's all worked out for the best? Or any ideas? Not really an option of staying with family as they live too far away.

I hope all that makes sense.

I think I would take a six month rental in the area. You would be in a good position to be a serious contender for the dream house even if you can't match the highest bid, because you will have the money in the bank and have no chain. While the conveyancing to purchase the dream house may not take six months, it most certainly will take at least half that and that's before any "issues" arise, such as good title, restrictive covenants, lack of building regulations etc. So, there could be a slight overlap but you would be in the area you and your children need to be and you can probably extend the rental on a monthly rollover once the initial six months have passed.

Yes you would be liable for council tax on both properties during overlap but you'd get a discount for the one that was empty

Furniture in storage and do a deal with the local Travelodge. Had the same thing happen to us.

In your position I would take a 6 month rental and remove the stress. Give yourself time to settle and you will be in a stronger position for negotiations on any other properties that come up.

Thanks for reading!
Allthebest give checked the local council website, and I don't think I'd get a reduction! I think I'd be liable for the lot. The house does need work, so an overlap in theory would be great. But on one income, I'm not really relishing the idea. Especially as exH has told me he is reducing maintenance down to CMS calculation as our youngest will be starting school.
The Travelodge is full! It's a touristy place and like I said, I don't feel too confident about my chances of securing this lovely house. Lots of developers around I'm sure.

Are there any other bills I haven't thought of? I've never rented before. Ever. Feel very naive.

Then try a different travel lodge and commute in. We were holed up in one 30 miles from where dp worked as we couldn't afford one that close to DPS work.

Personally I would be looking for a different house as a back up.
These things can take ages to sort out. I have been after things not dissimilar to this sort of set up and have given up. No one wants to be the one that calls time for fear of missing out on a person that offers £5 more.

Great thing about Travelodge is that there is no other bills to pay.

The problem is, there is nothing on the market! I can see a hotel may work out cheaper if it was definitely for 6 weeks or so. But that would only be feasible if I was lucky enough to get the house.
I agree about being strung out regarding the bids and offers. I'm also worried about gazumping (EA said on a previous house, the Trust had allowed a buyer to be gazumped by a higher bid).
But it's a wonderful house.

Can you see why I'm finding the whole thing so stressful? If I knew I didn't have the house, this decision would be easy.

How about long term airbandb rooms, or look at spareroom.com website. You might be able to stay in someone's house for an unspecified time. Very handy until you find somewhere to buy.

I was about to say airbnb too. Our friends did this. Honestly - move to rented for 6. I think it will be less all around stress.

I feel for you - what a nightmare that your purchase has fallen through. I've just been through a very similar thing - completed on our house 28th July but my ongoing purchase wasn't ready. Am also a single parent who was relocating and trying to get it all sorted during school holidays... was so stressful! I was lucky enough to have somewhere to stay over the summer but if it had fallen through I would have gone into rental.

In your situation I would think through the options and think about how they would make you feel if you choose them.

Is there a deadline for the house you're interested in? What have they told you? I agree with the Airbnb suggestion but imagine you've already looked into that. Look into any other hotels as they may also do you a very good deal for an eg 4-6 week stay.

Is there anyone you can stay with near to where you are at the moment, to give you some breathing space?

Unfortunately, due to the area, all short terms let's airbnb and the like are very booked up and very expensive.

In terms of amount of stress, the rental would solve a lot of problems. It's just the thought of potentially wasting £5k on a 3-4 month overlap that is causing me a lot of discomfort. That is such a lot of money to me.
I almost wish this lovely house didn't exist. It would make this decision so much simpler. I haven't put an offer in yet. Im viewing again next week with a builder friend. I was hoping to get more information off the EA. But it's very unlikely she will give away what the other offers are? If they are above what I can afford, it would easily sort the issue! Any tips on how to wrangle information out of them? I've already read up on how to maximise my chances of 'winning' the accepted offer. I promise this house is worth it! Hence the dilemma.

My exh's family all live v close to the area. But they've made it clear they won't help. Which has been hard in itself since the bastard had an affair and walked out on me and 2 under 5s

Are you in an area with holiday chalets or even static caravans if not holiday flats. My experience is that outside the summer peak I have big voids for my holiday flats, and it's got much worse silence Air BnB increased supply. I would leap at someone offering a few weeks/months.

In reality, it will take over 6 weeks for the conveyancing to be sorted particularly as you haven't offered yet and you're dealing with a Trust. I think a rental would give you settling time, you can bring your furniture etc with you rather than living out of a suitcase. If it all falls through, you can start looking again (I'd keep looking anyway).

Thank you all for your replies and suggestions. It has been helpful to talk it through.
Needsmore I think that could possibly be an option. I think if I had had my offer accepted that would make a lot of sense.

I may get more information from the EA tomorrow, but I'm not holding my breath. Even if I was successful, maybe I could exchange quickly and negotiate a longer time for completion? An overlap would be good as it needs a bit of work anyway.

MrsPatmore I am obsessed with looking. I've viewed 12 properties in a week and offered on two. It's a very slow market in this price bracket over there.

thanks for your help.

I think a rental has to be the solution.

Even if your offer is accepted, it wouldn't go through for at least 4-6 weeks (more likely 6+). Your offer being accepted is out of your control. The EA is out of your control.

What is in your control is to find a rental giving you somewhere to live before term starts.

Your 'worst case scenario' then becomes that you have spent money you didn't need to, should the house come off. BUT you'll be so happy the house came off I don't think it will bother you in the long term.

If the house doesn't come off, well then you're already settled in the right place and will be renting so hopefully a bit more flexible when the next right one comes up.

And you could move in slowly getting work done for example, if you rent for a while, and do manage to buy the house.

I am in a similar situation and have taken a six month let. it's a real pain, but we have been looking to buy for a long time and just haven't found the right place. I looked at holiday lets etc, and many landlords don't want to let for six months, but you just have to look until you find somewhere that is willing to have a break clause. If there isn't anything else on the market anyway you haven't much choice. It does mean double council tax though in the event you buy fairly quickly. Two removals aren't cheap either.

Thank you all for your advice.

Things are a little different this morning.

The letting agency, despite telling me a week was enough time to sort the legal side of it and move in, now seem to think this could take a lot lot longer! It sounded more like a month! Does this sound right to those that have rented before?

Then my solicitor contacts me and says buyers can't do the original agreed completion date. This has tipped me over the edge with the whole shit journey. They have dragged this out for 6 months now. I'm starting to doubt them. Bloody EA hasn't called me back.

I'm in even more limbo. In theory, I'm going to need a month between exchange and completion (really???)? and then are the buyers serious? and if I get a decent shot at my dream house, an extra month seems daft.

I hate moving house. I really really do. I'm wishing I had never bothered. I don't remember it being this bad last time!

I meant an extra month added to rental. Maybe I'd be better pushing for completion on the house instead?

Has anyone bought a house from a Trust before? Do things get messy?