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Original poster

Should we pull out/start looking again

35 replies

OneStepOneStumble · 07/07/2020 12:58

Hi all, DH and I are FTB and had an offer accepted just after lockdown eased on the housing market. Sellers haven't been great at keeping us updated but we've got things sorted from our end (mortgage agreed and arranging a survey). They've now contacted us to ask if we can delay a survey because they haven't found anywhere to move to yet, and they aren't willing to move out and rent anywhere. I.e. we have to sit tight and wait for them to find their perfect place for however long it takes.

Just looking for advice - how long is too long to wait? Are they being unreasonable?

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Jumblebumblemess · 07/07/2020 13:04

You could pull out and have the same problem again!

Most sellers need to have an offer agreed on their property before onward sellers will take their offer seriously. And with not a lot coming on the market in some areas it may take a little while. This is how chains are formed. The only way for you not to have this issue is to buy a no forward chain property.

Jumblebumblemess · 07/07/2020 13:05

I also think they are being honest sellers. They have told you to hold tight with the survey so you are not spending money out already. They could have screwed you over and got you to spend money on a survey and not told you all this yet. I would hang fire for a little while if it were me.

kenandbarbie · 07/07/2020 13:05

They are really. But I don't think their motivations matter. It's up to you whether you want to wait or not. It's just down to how much you want the house. Don't think if it in terms of reasonableness, just how best to get what you want. It's business.

kenandbarbie · 07/07/2020 13:06

I would look in your shoes and if you see another house you like them that's their tough louck.

BernadetteRostankowskiWolowitz · 07/07/2020 13:08

Well, it's up to you. We were quite open with our buyers that we hadn't found anywhere yet but were actively looking. They were fine with that (who finds the house they want to buy without having first made sure they have sold?).

You just need to decide whether you want to wait, and for how long.

Tappering · 07/07/2020 13:09

One thing to consider - how long is your mortgage offer valid for? Some are only 3 months.

I'd say fine, delay the survey and carry on looking. However you are always going to have this issue unless you buy somewhere which is chain-free.

Original poster

OneStepOneStumble · 07/07/2020 13:11

That's a good point re the mortgage offer @Tappering - I'll check.

I agree that I'm glad they've told us this now so we're prepared that it might fall through, but it seems that they're not that motivated to look - of course that could be us getting the wrong impression, but it almost seems like they feel we will just wait forever

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Original poster

OneStepOneStumble · 07/07/2020 13:11

That's a good point re the mortgage offer @Tappering - I'll check.

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Mildura · 07/07/2020 13:15

it seems that they're not that motivated to look - of course that could be us getting the wrong impression, but it almost seems like they feel we will just wait forever

Is there something specific that gives you that impression? Restictions on looking at houses haven't been lifted for much over a month, it's not unreasonable to want a little bit of time to look around for something suitable that meets their needs.

Original poster

OneStepOneStumble · 07/07/2020 13:51

@Mildura from what the agent said, they've only been to one viewing in a month of looking. It's possible there's not a lot out there but the market here has had an influx recently so it seems quite a low number

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AnotherBoredOne · 07/07/2020 14:01

Keep your offer open with them but start looking. Just in case you want to keep your options open.

randomsabreuse · 07/07/2020 14:09

We've sold, got money sitting in the bank and are in a rental that is tolerable but more expensive than a mortgage, so pretty motivated buyers. We've been to 1 viewing as there's been nothing worth the effort of viewing. We've looked at loads in detail, done drive buys etc but we're not about to waste sellers' time on a no hoper. All over budget, overpriced or it turns out the catchment primary school for a big new estate we were considering on paper is inconvenient logistically!

Original poster

OneStepOneStumble · 07/07/2020 14:19

@randomsabreuse okay, that's helpful, thanks. Prepared for me to be wrong and impatient - just very wary of being taken for a ride as an inexperienced FTB.

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Cardboard33 · 07/07/2020 14:55

I'd keep an eye on the market and look at other properties, but also hold out on this one just to see what happens.

They are being honest with you, if they weren't they wouldn't have told you to hold off on the survey, as you can't get your money back. When we sold our FTB house to FTBs they were pregnant and obviously didn't want to be mucked around. We only accepted their offer once we knew we'd had our offer accepted etc as we didn't want to screw them over by not being able to commit to their timescale, and we had other interest/didn't honestly expect to sell.
As others have said, you'll likely find it takes them a bit longer as they've probs got more requirements due to being more experienced (ie: things you'd accept as a FTB you probs wouldn't later on as your circumstances are different) and there might not be anything on the market that they want to buy. But if you do find something else that you prefer/think is better then feel free to make an offer and go elsewhere, although also be prepared that the same thing won't happen again as it's v difficult to be taken seriously as a buyer until you've got a buyer for your property.

GrumpyHoonMain · 07/07/2020 14:58

It doesn’t take long to move on a property now if you aren’t a first time buyer. Our buyers are like you, were concerned and we kept getting messages via the solicitors to ask when we’ll move etc. But our arrangements were sorted within a week and now we are more progressed than they are. I would just give them a bit more time.

Cardboard33 · 07/07/2020 15:02

Also remember that the EA is working for them, not the other way around and they're not impartial. Buyers (particularly FTB) often forget this and the EA only knows what they've shared. They might have been on one viewing with this company, but unless they've specifically told them they've only been on one viewing full stop then they don't know about their competitors.

Fettfrett · 07/07/2020 15:15

It probably feels like you've been waiting a long time, but if you take lockdown out of the equation it really isn't an unreasonable amount of time.

This is how housing chains always work. People won't accept an unporoceedable offer from someone who hasn't sold their house yet, so the bottom of the chain always has the longest to wait for the chain to form. Only you can decide how long you're willing to wait but very few sellers are able or willing to sell without an onward purchase so unless you find an empty house you're going to be looking at a long wait no matter what.

Most solicitors and EAs suggest waiting for the chain to be complete before going ahead with mortgage applications, surveys and searches for this very reason.

brainstories568 · 07/07/2020 18:13

Didn't lockdown on house viewings only end a few weeks ago? Our first house took almost 4 months and that was without a chain - the person we were "buying from" was dead and we were first time buyers. In comparison, when we sold that house, it was a chain of 5 and we went from offer accepted on our house (ie: the bottom of the chain) to completion within 7 weeks. I think you're just being impatient, which is natural in your position as it's exciting.

seaduck · 08/07/2020 08:37

Yes, you are being impatient. Isn't the advice not to apply for mortgages/surveys until the whole chain is ready to proceed? i.e. everyone has a house. Otherwise you run into problems with mortgage offers running out etc.
The estate agent should have let you know this at the start when your offer was accepted.

OfUselessBooks · 08/07/2020 08:43

This is what's worrying me about selling. There are very few houses in the area we want - and we cant really start looking until our house has sold.im very worried t may take a while. I cant imagine they're procrastinating though - what would be the point? They're probably panicking about finding somewhere before you pull out. It's good of them to suggest you don't incur expenses until they're ready - if I were you I'd keep an eye out for an alternative and generally sit tight. Hopefully the stamp duty announcement will get things moving.

It's occurred to keep that maybe, somewhere, there's someone waiting for a house that will eventually buy ours. We're putting it in in 2 weeks. It's the first time we will have been in a change and I'm dreading it!

BernadetteRostankowskiWolowitz · 08/07/2020 08:54

Isn't the advice not to apply for mortgages/surveys until the whole chain is ready to proceed?

You need at least an agreement in principle before anyone will accept your offer to buy.

If it expires, fine, just get another one.

BernadetteRostankowskiWolowitz · 08/07/2020 08:55

just very wary of being taken for a ride as an inexperienced FTB

There will come a time in the future when you are in their shoes. Selling this home to a FTB who is chomping at the bit to get in, all the while trying to make the right decision about where to go next.

Original poster

OneStepOneStumble · 14/07/2020 11:26

Hi all, I'm back with an update. They have now put in an offer on an 'off-plan' new build (i.e. waiting for it to be built). Expected completion not until November.

I'm pretty nervous about the 'expected' part of this - does anyone have any experience with new builds and how often they go over deadline?

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randomsabreuse · 14/07/2020 11:30

I'd assume more predictable than a chain type sale tbh. Obviously lots were delayed by lockdown but they should be pretty robust now...

Original poster

OneStepOneStumble · 14/07/2020 11:35

@randomsabreuse if it was already built I'd agree with you, but I worry that building a house comes with common delays, if it's not due to even be finished until November.

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