Time between accepting an offer and finding a property

[RoseMartha]

What is a reasonable time to keep your buyer waiting if you have accepted an offer to then have to find something for yourself?

There is nothing suitable in my area in my budget. In fact in total in my budget there are three properties for sale. I am talking of a five - seven mile radius of where I am now.

Whereabouts are you?

I would prefer not to share exact.

South east.

Nice property came on today which EA sent me but 10k over my max budget.

@RoseMartha so what if it's over by 10k? Properties are generally listed at a higher price. You offer what you think it's worth.

However long it takes, communication is key - don't do what our vendors did, which was to go silent for six weeks. Eventually it transpired they were frantically trying to find somewhere because they hadn't expected an offer so quickly! Which would have been fine with us, we just wanted to know it was still on.

@Smallgoon Compared to others it is probably worth that give or take 2k. I looked at nearby sales and last one was about eighteen months ago at similar price.

It is a shame because apart from one minor issue looks ideal. Of course can not really tell unless I have seen it and requested particulars.

@SparkyTheCat Ok thanks. I did tell my EA that I wasnt sure how long it would take and please could he talk to the buyers for me.

The market today isn't the same as 18 months ago. You have absolutely nothing to lose by offering 10k less. Guessing the agents know what your budget is, so surely they wouldn't have forwarded to you unless they felt you were in with a chance?

Thank you @Smallgoon . Yes I told them my budget. I will look into this property