Downsizing

[Muddle2000]

Wanting to move but it seems hard as we have a ftb property and moving down or at least like for like is proving tricky The estate agents turn up to flog ours but then no account taken of where we move to. Do not wish to disappoint any buyers

What do you mean no account taken? Where you move to is down to you really, the estate agents are on commission to sell your existing property, not find you your next one, although they can suggest properties they have on their books.
I’m not sure how you downsize from FTB really, are you selling to hopefully reduce mortgage payments? Is moving to a different area an option?

This is reminding me of that thread a while ago where people had bought a house, and the vendors were completely shocked that they had to move out.

Say what now?! What did they expect money for?!

Huh?

What @PushingPeopleAway said.

I'm not really clear what you are asking.

Are you saying that you haven't found anywhere to move to yet so don't want to find a buyer?

@determinedtomakethiswork if this is the thread I think you're talking about, it wasn't like that at all. The buyers hadn't bought the house, they'd simply had an offer accepted, but the vendors hadn't found somewhere suitable to move to.

Not everybody is able to "just" rent. Most people sell their house assuming they'll complete on their onward purchase the same day. If i were to accept an offer on my house and hadn't found anywhere to move to, my buyers would have 2 options: wait, or pull out. I wouldn't be selling to them and renting somewhere, as that isn't an option for me.

No, as a thread, I was thinking about was to do with what vendors did on completion.

Sorry for the typos in that.

@determinedtomakethiswork set Apologies! I was thinking of a while back when there were a few threads where people were told they must move as they had 'sold' and they were being too picky!

Ignore the set in that reply 😂

Thanks No one really told me how hard it would be to find somewhere Mine is relatively easy to sell so EA grab it but I cannot move somewhere suitable I could not afford to rent or go in a hotel1!

Surely you start looking for a property for yourself before trying to sell yours? Why would anyone have to tell you? If you are downsizing, you need to look for a smaller property, such as a flat. Or you could move to a cheaper area.

OP, if your finances are likely to get better in the future, have you explored different payment options with your mortgage lender? You could a) ask for a mortgage payment holiday, b) ask to be put on interest only or c) ask for the term of the mortgage to be extended by several years.

If you are in a job that doesn't get good pay rises, these will probably only help for the short term, and selling is still likely to be the best option.

I'm not sure what you mean about "no account taken" but there's not much on the market at the moment so it is tricky. People are sitting tight.

Seller not being able to find somewhere is a legit reason that sales fall through. Buyers won't withdraw lightly but they can't wait forever either. You might just have to disappoint these buyers and find new ones once you have found somewhere you want to move to. Remember it's a business transaction, it's not personal, and it's understandable that other parties push for the outcome they want especially as it's costing the buyers money every month you've not moved.

When did you accept the offer?