Would you move out to complete chain?
Beagled · 31/08/2020 17:06
Our house is now approaching second viewing stage and both the interested parties are chain free And state they are not in a rush. We are after a new build which won’t be complete until February. Now in an ideal world (due to child and dog) we’d complete in Feb and move straight in. However, with all the uncertainties with the world at the moment I’m contemplating whether it would be safer to complete and move out into rental ASAP to endure the sale goes through, just looking for opinions or advise on anyone who has done similar?
JoJoSM2 · 31/08/2020 17:30
I think I would be tempted to as February is half a year away and there could be delays in finishing the building work on top of that.
User43210 · 31/08/2020 17:37
I would say it's safer to move into rental and confirm the sale!
notheragain4 · 31/08/2020 18:07
Yes we've done exactly that. Accepted an offer on ours in May, new build due to be ready in November. Then the sale took longer than expected and our new build got brought forward to September so we will be in rented for a grand total of 4 weeks ha, although it's a ball ache it's a huge piece of mind that our house has sold and overlapping the moves so we don't have to rush and do in one day. (We have a very flexible rental).
notheragain4 · 31/08/2020 18:11
The only thing I would say, if your buyers aren't in any kind of rush, the new build will expect you to exchange within about a month usually, with a long stop completion. So you could exchange on your sale ASAP and ask them to do a long stop completion in Feb, so you've got the security of exchange having happened. I've known others to do that, I personally think it's an unfair ask on the buyers to wait that long though so it's not something I asked of our buyer even when our new build got brought forward, but it might be an option depending on all your circumstances.
Jessy2903 · 31/08/2020 18:21
Yes 100% if it confirms the sale.
We are now on our third buyer as it keeps falling through right at the last stages.
I would defo move out, also then gives you time to move into the new house in Feb without rushing - I would keep renting for a few weeks so you can get it all how you want it.
Mothersruin123 · 31/08/2020 18:27
We're in the same situation and are contemplating moving elsewhere for 2-3 months until our vendor can move into their new build...we want to secure our buyer ASAP. Question is where to move to? Most rental properties seem to be 6 month minimum let and Air bnb's are £££.
TabbyStar · 31/08/2020 18:37
We did. We moved in with my DPs in the end, although we did eventually find an estate agent who would give us a three-month tenancy we turned it down hecause it looked like there was only going to be a two week gap ... until our "chain free" seller suddenly announced that she was buying after all, so we had to wait for that, then everything got stuck in storage over Christmas. I did seriously consider the Premier Inn, it wouldn't have worked out much more expensive, other than we'd have had to eat a lot of sandwiches and take our washing somewhere! Anyway it gave us peace of mind on the sale.
user1471538283 · 02/09/2020 18:48
Yes I would and we are!
NotMeNoNo · 02/09/2020 18:50
We did . Someone else in the chain had a property to rent, that's how we managed to get a 3 month tenancy with pets. Worth asking your solicitors if anyone prepared to be helpful to keep it moving.
bigbradford · 02/09/2020 22:27
Yes. Take the money. Move out and rent.,Hopefully your buyers can get a mortgage and complete.
Els1e · 03/09/2020 06:36
Yes, I have and I would do it again. Made the whole process a lot less stressful.
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