Shall i stay,or shall i go now.

7 replies

Shotinthedark2022 · 14/09/2022 07:50

I sold my property back in june.I havn't managed to find anything that i like to buy despite casting my net far and wide.My buyers are now pushing,as we are getting close to exchange.My estate agent has asked if i could go into rented.That would not be possible with pets,also i don't want to get priced out of the market.
The thing is,i love my house.The only reason i considered moving was because the garden is large,so requires quite a lot of up-keep.I have many happy memories here,and have grown with the house over the years.
I am seriously considering pulling out of the sale.Has anyone been in the same position,and if so what did you do?
Thank you

OP posts:

KylieWasHere · 14/09/2022 08:02

I don’t think you have a choice. You’re not willing to go into rented and you can’t find anything you like. Either your buyers wait or you pull out of the sale.

Roselilly36 · 14/09/2022 08:07

We were in a similar position, found a buyer fairly quickly, lucky for us we found exactly what we wanted, but if we hadn’t and our buyer was pressuring us, we would have pulled out, it’s too expensive to move and make a mistake. Good luck OP, I hope it works out for you.

Original poster

Shotinthedark2022 · 14/09/2022 13:41

Roselilly36 I am pleased you managed to find somewhere.I have fatigue from looking round properties.Can't seem to find anything that comes up to my current home.The only one i did find,which went to best and finals,i wasn't the highest bidder.I hate being pressurized into things.

OP posts:

RidingMyBike · 14/09/2022 17:04

If you can't find anything then you'll have to let EA know and your buyers will probably pull out. You can remain on the market and carry on looking, or take it off for a while and go back on in the Spring?

justfiveminutes · 14/09/2022 17:21

I wouldn't pull out of a sale now. I'd be in rented and waiting for the market to cool, having sold at the peak.

But if you love the house you're in, it's not just a financial decision and you might be better staying put.

Twizbe · 14/09/2022 17:24

Why are you moving? Is it to downsize?

If so I think you need to view properties with your head not heart. What can you manage as you get older.

Other option is just to sell off some garden if the house itself is manageable

BlueMongoose · 15/09/2022 20:38

There comes a point when you have to consider your buyers. Three months after you accepted an offer, and you haven't even found a property to move to yet? Your buyers are being very patient- presumably because they have a lot invested emotionally and financially in the purchase. If you are going to to leave them in the lurch, to be fair to them you need to tell them. Now.

It's not just people in your position you need to be asking for experiences from, though- its people in your buyers' position. I know that you often can't be taken seriously as a buyer unless you have sold, but I do feel that the very least people ought to get to know the local market thoroughly before putting their own up for sale. I kept a weather eye open for well over two years the last time in the general area I was interested in. If you look and there aren't properties out there that suit you, and you are unwilling to move into rented for whatever reasons to wait for that 'special' one to come up, then that's an indication that you aren't committed enough to selling for it to be fair to accept an offer. Please don't waste buyers' time only to doom them to disappointment and often considerable expense. Just as you don't want to rent when prices are rising, if you pull out even now you may have trapped them into a situation for months with rising prices where they now won't be able to afford as nice a house as yours, thanks to you. If you leave it longer and still pull out, that will, if prices continue to go up even slowly, make it even worse for them.

Flip