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Original poster

How long would you wait for a house

22 replies

Redwhiteandnotblue · 05/07/2021 13:52

Hi newbee here

I'm in the process of selling my home, had an offer last autumn 😱, buyer still wants to buy, it's july😱.
Just wondering how long people would hold out in general, can't believe they have hung in for so long.
Not got a onward purchase yet and don't think I will in the next few months unless things change in the housing market.
They are a first time buyer, think I might have to bad guy and withdraw.
Ta for reading

OP posts:
LucindaT73 · 05/07/2021 14:04

Isn't your solicitor chasing this up for you?

Do you have one?

Also, truthfully, ought you be putting your house up for sale when you have no intention of moving yet? That seems quite unfair if you had a buyer ready to move and being held up by you.

To answer your question, yes, it's too long to wait. If a buyer hasn't sorted a mortgage and is ready to move, they aren't serious.

But neither are you! So you aren't really holding out, you're treading water while it suits you.

BluebellsGreenbells · 05/07/2021 14:16

Why haven’t you found anywhere?
It’s you holding up the chain they must be completely fed up of you

Sloaneslone · 05/07/2021 14:18

Why are to proceeding if you know you can't move?

They may wait forever. I know someone who has been having to have bat surveys and all sorts, so his buyers were waiting 17 months.

Zenithbear · 05/07/2021 14:23

Buyer still wants to buy because they got last Autumn price. I'm imagining you now want them to pull out so that you can achieve this years price.

Ladyof · 05/07/2021 14:23

I would like to know what these people expect you to do if nothing suitable for you to buy is going on the market.

If it was the right house for me I would be prepared to wait for it. All you can do if be honest, they are free to buy another house if they don't want to wait.

They might be looking but nothing compares to your house. I would give them the option to pull out or wait rather than you taking their control if that makes sense.

The market is too crazy to risk going into rented near me, I don't know if that is the same for your area.

Good luck

readytosell · 05/07/2021 14:23

Well the buyers might be perfectly happy to wait for this particular house. Would i have waited that long? No I would firmly walked away after a few months max, but we are all different. They could have walked away by now if they really wanted to.

So not sure why you want to be the bad guy - they're perfectly capable of making their own decision!

LucindaT73 · 05/07/2021 14:30

It appears that not only are you not being clear here in your post, you aren't actually communicating with your buyer!

As PPs have said, if you haven't found a new home, YOU are the one holding things up!

Is your buyer not asking when YOU are moving?

How often are you in contact with them via your legal team?
(Or don't you have one?)

Neither of you appear to be talking to each other!

You need to tell your buyer that you have not found a place to buy.
If they want to wait, that's fine.

But it's not THEIR fault things aren't moving.

Have they had a survey done on your house?
Have they got a mortgage in principle?

CellophaneFlower · 05/07/2021 14:45

OP isn't blaming her buyer for holding things up! She's feeling bad as she can't find anything she wants to buy yet. I assume she didn't put her house on the market for the fun of it... often now you can't even view a house unless you've sold. Also I'm sure her buyer is well aware she hasn't found somewhere yet Hmm

OP just be honest with them. If they're happy to wait and you're still keen to move I wouldn't pull out.

Original poster
Redwhiteandnotblue · 05/07/2021 14:48

I took the offer on condition I could find a forward purchase.
As you all are probably aware you need a buyer before you can go offering or even looking at houses.
Yes I have looked, offered, over asking but so is everyone else, very little coming on.
Oh they have made demands for pulling out, reducing the price, wanting furniture thrown in to proceed, I refuse and they still come back asking for a Completion date.
I'm probably the only house for sale in their price bracket in a five mile radius they want to buy in.
In conversation with sol, estate agent seem to be keeping out of it

OP posts:
Livingintheclouds · 05/07/2021 14:59

I pulled after waiting two and a half months. My seller had said they'd go in to rental, and I offered on that basis. I had a deadline of this summer so could not wait indefinitely when it became clear they wanted to buy but were having no luck. However, I did not want to hold up my own sale so said I would move out regardless (little thinking that the second, chain free house I tried to purchase would have seller pull out).
If you want to hold on to your buyer and put yourself in the best position to pounce when a house you want comes on the market, move in to rental.

LucindaT73 · 05/07/2021 15:09

As you all are probably aware you need a buyer before you can go offering or even looking at houses.

We bought our current house and the previous one without having a buyer.

It's chicken and egg. Depends what you think works best for you. We decided we'd find a house for us, harder than finding a buyer for ours, so did it that way round.

namechange90832 · 05/07/2021 15:13

We went into rented for our buyer, I don't think it's fair to make them wait (maybe a month to complete the chain but no more), I didn't want to lose them. I sure as heck wouldn't wait for 9+ months.

Emimummy · 05/07/2021 15:21

We sold our house to first time buyers that were living with parents. They waited nearly 6 months for us to find a house and move.

FourTeaFallOut · 05/07/2021 15:24

I'd wait about six weeks for someone to make an offer on an onward purchase or a resolve to move into rented. I have no desire to put my life on hold while a strangers arses around dragging their heels and mooning on about dream homes.

CellophaneFlower · 05/07/2021 16:19

@LucindaT73

As you all are probably aware you need a buyer before you can go offering or even looking at houses.

We bought our current house and the previous one without having a buyer.

It's chicken and egg. Depends what you think works best for you. We decided we'd find a house for us, harder than finding a buyer for ours, so did it that way round.

Pre covid I assume? If not, you're lucky. Mostly now you can't just choose to buy first. You can't even physically look first. The days when you could view a property before having even put your house on the market are long gone.
readytosell · 05/07/2021 16:25

@Redwhiteandnotblue

I took the offer on condition I could find a forward purchase. As you all are probably aware you need a buyer before you can go offering or even looking at houses. Yes I have looked, offered, over asking but so is everyone else, very little coming on. Oh they have made demands for pulling out, reducing the price, wanting furniture thrown in to proceed, I refuse and they still come back asking for a Completion date. I'm probably the only house for sale in their price bracket in a five mile radius they want to buy in. In conversation with sol, estate agent seem to be keeping out of it
Then I don't have any sympathy much with them.

If they were really that bothered, they would have walked away well by now. If they don't want to, that's fine, but still their choice. Nobody is forcing them to hold on.

StarCat2020 · 05/07/2021 16:48

Latest PHE analysis of deaths in over 50s with Delta showed that for the 109 deaths, 50 of them had been double vaccinated.

FourTeaFallOut · 05/07/2021 16:56

Given that the vast majority of over 50s have been double vaccinated that must represent a tiny proportion as compared to the proportion of unvaccinated dying of the delta variant.

Sloaneslone · 05/07/2021 17:00

So they were aware it was going to be a while. So they could hold on indefinitely.

FourTeaFallOut · 05/07/2021 17:02
Blush

I'll just get back on the right thread too. Sorry.

StarCat2020 · 05/07/2021 17:02

50 double vaccinated
18 single vaccinated
38 unvaccinated
3 no data

109 deaths

StarCat2020 · 05/07/2021 17:44

Just realised that I am in the wrong tab and therefore the completely wrong thread.

What a doughnut.

Sorry

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