How long is reasonable to search

[FiftyStoriesHigh]

We accepted an offer on our house on Wednesday. Buyers are keen and able to move forward but not at all pushy as of yet. We did find a house we loved but we didn’t get it (put in the highest offer but at that point, we hadn’t sold and they went with FTBs). Basically, how long do we have? What’s a reasonable amount of time to house hunt? Worried we might rush into something - already feel guilty about it’s been 3 days since we sold! Thank you.

Also we’ve already done all the solicitor paperwork etc. Is that wise or is there anything we should stall? First time we’ve sold.

I would wait a bit to buy time, but you wouldn’t actually lose too much as the seller of it didn’t go through. Plus you’d probably recoup it on asking price anyway.

You could let your solicitor know the situation but the buyers would expect to see the forms etc so they have more information.

We’re 5 months down the line … still waiting for them to find something

[quote FiftyStoriesHigh]@Woahthehorsey Yeah I don’t want to end up feeling pushed out. I do love our home, it’s just too small now. I’m a bit worried about what we might lose in solicitors costs etc if they pull out but I’m assuming it won’t be a huge percentage. Am I right to get the ball rolling with solicitors now or did you wait to buy time? Thank you.[/quote]
Well don't let your solicitor do anything until you've found somewhere, then you don't lose the money!

Sounds like part of you already hopes they will pull out and you can get more for it. Delightful. Just remember these are real people who are more than likely very excited at the prospect of moving house.

@Guttedbuyer Complete projection on your part there and not the case at all, not even implied. They made an offer 3 days ago and I’m already checking how not to take the piss, so no. You’re way off.

Strange to mention possibly being able to get more for your house then. Maybe it’s more just that it doesn’t matter if they pull out. The joy of a sellers market I suppose.

I don’t know where you are obviously but here it could be literal months between suitable properties coming onto the market so to be worrying about it after three days isn’t necessary.

Wow, I feel bad now that our buyer has been waiting 6 months for us to find somewhere and we are still looking! It's not like we haven't been trying though, it's just a crazy market around here.

@Guttedbuyer I wrote that in response to another post. I am worried about losing money, who wouldn’t be? And the potential to relist if they pull out means I can atleast salvage that with the current uptick, but I’ve no intention of us being the ones who pull out. I just wanted to know what was a reasonable wait time.

I’m sorry you’ve been waiting a while. That must be massively frustrating. I just don’t want to ask too much of them either, but not sure what’s normal.

@Harriet181 We thought we’d hit the jackpot by finding one we loved so much but despite highest offer, we hadn’t sold at that point so they didn’t choose us. We sold two days later and didn’t want to go back and offer again as it seemed unfair.

Or a very real anxiety about being able to find something half way suitable in the current crazy market!

Don’t forget OP will hopefully soon be a buyer subject to the exact same risk as you mention so why make a snarky post?!

I wrote that in response to 23.10 post.

Sellers usually have to become buyers!

Just something off about it IMO. Presumably if you’re planning to sell up/buy you have at least a rough idea if the market and would know it’s unlikely you’ll find something in three days …

OP can now see from the thread that it’s perfectly normal at the moment for a buyer to wait months so at least it’s been helpful for them in that sense.

@Guttedbuyer I know it’s reasonable to wait three days. I was asking what’s a reasonable timeframe not should we have exchanged in the same week. Feel like you’re being wilfully obtuse at this stage.

I totally disagree with somewhereovertherain 's stance, as, like you say, round here you can't even view a house until you have SSTC, or have proof you are a cash buyer.

Of course, each sale is individual and each buyer is individual, so "how long" is going to depend on how desperate they are to be in, and how many similar houses to yours are on the market, that they could buy instead if you don't give the impression of being serious.

The whole buying and selling system in England is ridiculous and there has to be a better way.

I think it totally depends on the buyer. I would have been happy to be super flexible (and actually have been with our sellers, they’re moving into rented now as won’t complete on their onward purchase til the summer).

Realistically though, it took us nearly 2 years to have an offer accepted that went through. I think a month is very, very optimistic at the moment.

I've offered on a property and they will accept once I have sold. Open dat yesterday so let's hope some offers appear over the weekend.

I'd sell asap, move to short time rental to make sure you find the right house

Ok, so unless we creep over a few months probably no need to worry too much. Thanks everyone. We’re really actively looking and not massively picky and I’ve heard it’s peak-time soon so fingers crossed. Rental isn’t really an option for us but we’ve made everyone aware of that.

Yeah @oranga we were in a similar situation but then FTBs also offered so we lost it. Good luck.

@samsam123

I'd sell asap, move to short time rental to make sure you find the right house

That's not always possible though, and can be very costly.

I ended up having to give my vendor a deadline. Which I didn’t want to do as she was a lovely lady but I think what she was looking for was simply not available for her budget (or anywhere close to!) and essentially if she wasn’t going to realise that she was never going to move.

Yeah that sounds fair @lastqueenofscotland. I’m pretty sure we’re in-budget for the house we want but it’s good to remember to keep it realistic. Hope it worked out for you.