Anyone else under offer but nowhere to buy?

[Naptrappedmummy]

We have a great offer on our house - well over asking, no chain, proof of funds all fine - but simply cannot find anything to buy in our chosen area. There were a good handful of potential properties on the market when we listed a couple of months ago but now, nothing.

We’ve searched high and low but everything has just dried up. It’s keeping me awake at night, I don’t want to lose our offer but I don’t want to choose the wrong purchase as we will be there 10+ years minimum.

Anyone else in this position that fancies a chat?

☹️

I’ve been the buyer in this position. Make sure you keep your buyers updated on the fact you are searching and going to viewings etc.

We waited a long time and eventually pulled out. We might have waited longer if they’d communicated better.

I’d see about renting, give you peace of mind since you’ve sold the house and then rent until you find the place you want.

I wish I was in your position! 😊👏🏼

My sellers are!!! 🤣

We've been waiting since October so far. Lucky for us mortgage rates are still dropping so financially it's all good. Although we are selling too so are a bit concerned about our buyers and that they will want to renegotiate the price when we actually start to move but nothing we can do.

The estate agent has told us they have made offers and are looking. We have started looking again through as we just want to get on with our lives. So just wait and see what happens I think.

We are annoyed though as we were told when we viewed that they were going into rented which as soon as we made the offer was no longer the case.

We went into rented. It was hard work but is working out well for us

Are your buyers prepared to wait? We sold a while back, we were relocating, took a few weeks to find our new home. I was on RM day & night. Our buyers really wanted our house and were prepared to wait a reasonable length of time. All worked out for us, but keep on at all the local EA, so you can get the heads up.

We originally thought we would rent to chain break, but changed our minds due to lack of availability and also we didn’t want to move twice and pay for removals twice, we also wanted to settle as a family asap and didn’t think we could do that in rental. Thankfully it all worked out well for us, we found the perfect new home. Good luck OP, hold your nerve, I hope the move works out well for you.

Yes, our buyers offered in July & are still waiting for us. I feel awful but we’ve offered on at least 5 properties & lost out on the last 2 to FTBs, despite being the highest offer.
Going into rented isn’t really an option, so I feel like we’re just waiting for them to pull out at this point :(.