How long is reasonable to wait?

[Fallulah]

We’ve sold our house to first time buyers (full asking price in under a week - very unexpected). They have said they are happy to wait for us to find somewhere and they’re aware we would prefer to move just before or during the summer holidays, which they’re happy with.

We’re in the South East, and I don’t know if it’s the same everywhere but agents here were not letting people view properties until they were ‘proceedable’, which we clearly are now. We’ve viewed four houses so far and ruled out three with a second viewing next week on one we are quite keen on, but it also has other second viewings on it so may not come off. And it’s not perfect, but compromises have to be made, I know.

Nothing new has come on to Rightmove in the last two days in the area we want to move to. Our estate agent says they’ve done a letter drop in the area for us, but nothing so far. All the agents are saying the market is slow at the size we are looking at.

It’s now been a week since we accepted the offer. What’s a reasonable time for us to take to find somewhere? Another week or so? A month? Don’t really want to lose this buyer but equally going in to rented (twice what a mortgage would be) isn’t going to be an option just to keep them.

Thoughts? I’m getting quite stressed!

A month.
BUT, if you don't get going, the summer holidays are getting unlikely. It's only 16 or 17 weeks until the schools go back, and 12-16 is a typical conveyancing timescale (ours was 17 weeks, minimal issues, only 2 houses/3 families in chain)

It won’t matter how quickly you find somewhere, even if it’s empty, I doubt you’ll move in the summer holidays. If it needs to be holiday time you are better off aiming for Christmas and hoping for October half term.

I was just using the summer thing as an example of how willing they are and not pushing at all. But I don’t want to take the piss and wondered how long is reasonable.

We will continue to obsessively check Right Move and harass agents for a week or so longer then before ultimate panic sets in!

I sold at the start of Feb.

I’m VERY motivated to move and have viewed everything even remotely tenable that’s come up. Due to a purchase falling through (vendors decided they didn’t want to move after all…) I’ve only just in the last fortnight found an onward purchase. And the vendor hasn’t found hers yet.

My buyers are being patient but I’m bricking it that they’re going to lose their cool.

But what else can you do? I would’ve worked on rented as a back up, but the estate agent suggested I’d be lucky to even find one, and it was risky to exchange before finding a rental in case I made myself homeless…

@LividHouse Exactly. I feel powerless - all I can do is just refresh Rightmove a
billion times a day and email agents to see if they have anything new coming on, and they never do - they just say to watch Rightmove!

I don’t think a month is much at all. We have been under offer since early March and still haven’t found anywhere, now mid May. Our buyers know this and are patient. They know housing is in short supply everywhere. But to be honest there’s no use trying to guess a timescale as best laid plans etc.
Hopefully your agent is managing their expectations that these things take time. She/ he will let you know if they’re starting to wobble. Just be careful you don’t end up offering on something you’re only half hearted about because you’re so worried about doing it quickly.

If your buyers are genuinely patient, and know you are actively looking then don’t worry. Obviously the longer you are looking the higher risk they’ll walk. We’re buying now and in the same position as your buyers, we’d actually prefer it takes ages as we’re living with parents so can save more money for renovations and furniture

My parents sold mid march and are still a way of exchanging. So I wouldn't get your hopes up about moving in the summer.