Anyone else nervously waiting for the vendors of their prospective new property to find somewhere themselves?

[LaksaLover]

Hi,

So we've had an offer accepted on a house a couple of weeks ago and we accepted an offer on ours about 6 weeks ago now.

Our buyer is a BTL investor and so chain free. So far they have been very patient, but for how long?

The vendors of the house we are hopefully buying, are not chain free and need to find. We made it clear when offering that we would expect them to be very proactive with their search, as we were nervous about losing our buyer. The EA said they were very keen to move, but so far I've had no updates.

I wasn't necessarily expecting them to have found somewhere by now, but it would be good to be reassured that they're actually very active in their search.

I'm really hoping that if and when they find somewhere, it's chain free. Can't stand the thought of a long chain on that side, although I appreciate it's very often the way.

I know I need to just chill out, but it's taken us so long to get to this point and we've got so many things going on right now

Anyone relate?...

We had this with our current house. I think the vendors took 3 months? And it was almost 6 months from offer to completion but it worked out.

Our (high) offer was accepted in early December. The vendors said last week that the rental house they’re moving into while they search isn’t available yet, and they weren’t prepared to exchange till May. I lost it at the estate agent and solicitors and probably people passing on the street now they’re saying they’ll ‘make alternative arrangements’. Hmm.

They need to rent. Our vendors purchase fell through go and they asked us if we would mind holding on another month (which actually suited us) but they were prepared to rent rather than lose their sale.

We did actually ask before we offered if the would consider renting and it was a definite no. We made it clear that our offer was based on us expecting them to find quickly, with reason obviously.

I know it's only been a few weeks, but I would expect the EA to be keeping me more in the loop.

I'm on RM every day, as I feel we need to cover our backs.

*they

*within

Thanks for the replies btw.

Also, if you do see another house you like, under the circumstances, is it wrong to look at it? Presumably the estate agent wouldn't let us view once they asked about our position and found out we'd had an offer accepted somewhere else....

We accepted an offer on our house on Monday, their chain is already complete. We have viewed 17 properties this week, offered on one, and are viewing another this morning for 2nd time and may well offer on it. We have a WhatsApp group with our buyers and I have been keeping them updated. I am worrying about finding somewhere quickly enough, as I don't want to lose our buyers. The house this morning is chain free which makes it more attractive too, that and the sea views! It's so stressful though, and I keep refreshing all the property websites in case anything has been listed. Hopefully by Monday we will have something in place.

We had a protracted house move last year. We had aimed to be in our new home before completing our sale because new home needed lots of work. Problems that had to be resolved by the Land Registry took months (that's another story). We ended up going into rented accommodation so as not to lose our buyer. I would certainly look at other properties but beware of getting into an " out of the frying pan into the fire" situation. Please do not rely on your EA to be honest with you. After our experience I will never trust an EA ever again.

It took our sellers from October - March to find somewhere! The waiting is crap, we didn't end up moving until May! X

The thing is, as difficult as it is, they don’t actually have to rent if they don’t want to, and they don’t have to buy something that doesn’t suit their needs just to keep you happy. House selling and buying is immensely frustrating for all involved and the only thing is patience. If they’re looking for a fairly standard property it could be quite quick, but something more specific or in a competitive market will take time. I know how frustrating this is - we offered on a chain free property last spring, and had a cash buyer. 4 weeks later we were told that our sellers had found their onward house and weren’t going into rented after all, and we were in a chain. We could do nothing except wait. Then, with exchange imminent our buyers tried to tie in a sale of theirs and hold up the process. We got there in the end but it was 5-6 months from offer to completion