Have buyer, but can’t find new house

[BigFishFace]

We finally accepted an offer from a first time buyer this morning. The agent hinted that she wants to be moved in ASAP. I will call the agent this afternoon to confirm this. Problem is, after 6 months of looking we are yet to find a suitable house. We’re not being particularly picky although we are limited by school catchments. We’re even happy to take on a project. There’s just very little on the market.

When do I have this discussion with the buyer? I don’t want to lose him, but equally I don’t want him to spend £1000s in fees etc if we simply cannot find anywhere to go.

We don’t have many options. We can’t sell and rent as then we’d be liable for some extortionate early repayment fees on the mortgage.

Well you tell them you haven't found anything yet. Usually when you're under offer houses seem to appear - get estate agents on your side and show you anything. Look at everything that's in the catchments you need - my experience is if you look willing and see plenty estate agents think of you when new stock comes on. But your buyer must realise the chain isn't set yet. They may well want to move is ASAP but they'll have to wait like everyone else does is these situations.