Sellers not committed?

[Candleabra]

I accepted an offer on my house, and offer accepted on our purchase 6 weeks ago.
The sale is progressing well, with survey done, paperwork returned, searches requested etc.
My purchase - not so much. The vendors haven't found a property. Nor have they returned any paperwork to their solicitor. I booked a survey for next week but not sure whether to cancel it?
Am I unreasonable to expect them to show some commitment to their sale? Do I just have to accept that the timeline is governed by their onwards purchase or is it time for a discussion with the estate agents?

Have they updated you with how their search is going, are they viewing properties etc. To be fair the last 2 weeks have been so quiet (in my area anyway) for houses goingbyp but I am hoping next week will really pick up.

I think they were looking at properties before Xmas. I was feeling ok until the solicitor said they hadn't returned any paperwork, especially as they've had weeks to complete it.
I suppose I was hoping they'd be willing to break the chain if they hadn't found somewhere. I was still holding onto a vague hope of buying the house before 31st march, but I feel that's becoming increasingly unlikely.

I have asked my estate agent to be honest with my buyer and tell them that we havent found anywhere else and could we have a bit of time to find somewhere before staying the process. For us we have only had about 9 working days as it was just before Christmas and most agents were closed during christmas and new year, the market will hopefully pick up now as nothing suitable has gone on so far.

I am praying with the 3rd lockdown the stamp duty deadline to be extended and I know our council are so far behind on searches but knowing my luck it wont get extended.

Good luck I hope things get moving soon for you.

I imagine it's that they're deliberately stalling on the paperwork so that your end of the chain doesn't get too far ahead of the other end. Harder for you to pressure them later on if your transaction isn't much further along than their own purchase. Not necessarily a lack of commitment, as such, but they're clearly not in a hurry.

I agree they're probably just trying to slow things down. Leaves me in a difficult spot though, as I think I'll be the one who has to break the chain fory sake to proceed, and I also doubt I'll get the advantage of the 0% stamp duty. I wish house transactions were simpler!

Have you had the conversation with them / their EA about the stamp duty holiday?

Would they be prepared to go into rented and then have the advantage of being chain free buyers?

You need to get the EA to get them to be honest.

Will you lose your buyers if you don't make the 31st March? Would you be prepared to sell and go into rented and then have increased bargaining power as a chain free buyer?

Until they actually start spending money you won’t really see a commitment. Verbally you can be full of hot air, it’s only when you start spending money on your purchase that the seller will feel more comfortable.

They could be fussy buggers with regard to a new place, one might want to move and the other less so.

My DH wasn’t as keen as I was. It was my idea to move and I was totally committed to it. Had already scooped out the area to look at and peeped at Right Move. Visited the area and spoke to the locals so once we had our own house under offer we saw six in one day and found the place quickly.

Definitely had the Stamp duty conversation when we made the offer, they're totally committed etc etc.
I just think as they haven't found anywhere yet, they're probably thinking there's no point in rushing as if the completion date is after 31st march, it might as well be significantly after so they get what they want.
They're not prepared to move into rented.
I'd be prepared to move into rented though to keep our buyers. I reckon it's harder to sell than buy.

But...then I'm in a dilemma as to whether the house I'm buying is the one for us. Its a lovely house, but I don't want to buy at the top of the market and miss out on the SD holiday. I may as well bide my time and shop around if we have to go into rented anyway.

I certainly would not be paying for a survey at this point. Only you can decide if the house is worth hanging on for.

I suspect that the stamp duty saved before 31 March will come straight off the sale price after it so financially probably little difference.

@JoannaDory

I certainly would not be paying for a survey at this point. Only you can decide if the house is worth hanging on for.

I suspect that the stamp duty saved before 31 March will come straight off the sale price after it so financially probably little difference.

Yes agreed. I'll have a think over the weekend, but a serious conversation with the estate agent required next week I like the house a lot, it's a good solid house, but no dream property or anything.

They stand no chance now of buying and completing a purchase before the end of the Stamp Duty holiday.

I think I'd get the estate agent to have a clear chat with them about how much longer they are expecting this to take, as it's not fair to expect you to wait indefinitely.

@NewYearNewPlumbing

They stand no chance now of buying and completing a purchase before the end of the Stamp Duty holiday.

I know. My only hope would be if they would be prepared to move out or rent. Which they're not.

@KitKat1985

I think I'd get the estate agent to have a clear chat with them about how much longer they are expecting this to take, as it's not fair to expect you to wait indefinitely.

Agreed, thanks, everyone's comments have been really helpful and confirmed what I thought. I'll speak to the estate agent on Monday.

I guess you will end up reducing your offer to reflect the stand duty bonus you are missing out on?

It could all work in your favour if the house prices nosedive late spring.

I'd give them a deadline. If they haven't had an offer accepted on another property by X date then they've killed the chain and you're pulling out of the sale. Don't pay for a survey yet.

Quick update: I spoke to the estate agent and the vendors aren't prepared to commit until they have found a house. I've cancelled the survey and withdrawn the offer.

Sorry to hear that. So frustrating for you. At least you didn't pay for a survey.

@Candleabra

Quick update: I spoke to the estate agent and the vendors aren't prepared to commit until they have found a house. I've cancelled the survey and withdrawn the offer.

That's a shame but no point in spending a lot of money if they are not committed. You would potentially end up paying over the odds for the house and stamp duty too.

I know. I feel really sad today but I'm sure I've made the right decision.

I'm sorry to hear that. I feel in the position of your sellers. We cannot find anything suitable and I just wake up each day praying something good that suits will hit the market.

I've put posts on facebook, rang EA weekly to check in with what they have coming up etc I literally feel helpless.

We are totally committed to sell but just sadly cannot find anything.

I'm hoping we have more time as my buyers only offers christmas week.

You might find they find a purchase in the next week or so and you cant find anything else so it could work out.

I'm sure it will in the end, that's what I keep telling myself anyway.

Would you considered renting or could you stay with family?

Good luck xx