Vendor waiting for new build to be built? Risk or not?

[OnTheHuntForAHome]

Viewing a house tomorrow, looks like it's exactly what we want however the vendor is waiting for their new build and said it won't be ready until autumn.

What happens when autumn comes and it's not ready?

When would we do our mortgage application etc?

Any advice?

We bought a Newbuild 3 years ago. It was due to be ready in December. We moved in in March. They kept telling us December even towards the end of November when the house had no roof. The developers never give a realistic date. I would say you should push for a definite exchange date. If their house isn't ready they should move into rented accommodation. Otherwise you'll be waiting and waiting just like they will

We sold doing this just last year, we were delayed 1 month but we moved into parents (were going to get an air b&b but couldnt find one) for that month, to allow our sale to go through. It wasn't the buyers fault so were happy to do so. The sellers here may be prepared to do the same.

Developers are only required to give a season that the house might be ready until the property is built and pretty sure you only get a fixed date once it's decorated

That being said a developer isn't going to want to delay completion because it's cash in for them therefore any delays will be outside of their control eg if we have a really bad summer and can't get the structure up and watertight

If you work to say an October date but allow a further 6 week buffer as a timescale? If you wanted to do it quicker to get the chain moving then you'd need to negotiate them going into rented to allow you to move in earlier

Are you selling too OP?

Ask your broker regarding how long the mortgage offer will last and what the process will be if you go over that date. Will your circumstances change within that period, ie are you concerned about your job? are you pregnant?

We bought a new build a couple of years ago.
It took much longer than we were initially told and then everything was a mad rush at the end with the developers being very inflexible.
We moved into a rental and I'm very glad we did as it removed the extra stress of possibly losing our buyer.