Advice please on buying or renting before buying

[Movinghomes]

Our house sold two days ago STC to a chain free, mortgage free cash buyer. Around the half million mark. He wishes to complete in July. We too wish to complete in July.

We are looking to buy in the same town but in a specific and popular area in a particular catchment. If we cannot find anywhere we will unhappily break chain and rent. You can see why we'd rather not do that but will if we have to.

Given that house went STC on Thursday what is a reasonable amount of time for our buyer to be asked to give us to find somewhere to buy before we give up and look to rent on the sale completing? What if something doesn't come up in march but does come up in April? I guess I'm trying to also work out scenarios where for example something only comes up in may or so which is too late for buyer to complete in July - would our option at that point be to find an Airbnb style rental and "separate" the purchase from the sale?

Stressed and confused as didn't expect house to STC within under a week on the market ...

It's not vital for completion to happen in July, just because that's what the buyer wants. He'll have to wait, won't he? Otherwise how long is a piece of string? We're in the same position - contracts have been signed, not exchanged yet, and no one in this house has got anywhere to go.

I wouldn’t get drawn into that sort of discussion.

Just say you’re committed to moving out by the end of July & will rent if you can’t find anywhere to buy.

This is what I dread! Want to sell but terrified we will jot find an inward purchase. Nothing on rightmove looks at all enticing.

If you don't want to lose the sale, commit to completing in July.

Be prepared to have a gap between sale and purchase and have a plan as to what to do- short term let, Airbnb, stay with family. If it looks like you won't have found somewhere by April/may, you might want to change tactic and look for a rental for six months?

I had this happen- found somewhere to buy but not in time for the sales to be in synch. I stayed with family for a month after my place sold and the removal people stored my stuff until new place ready.

At this stage, just nod politely and agree that you'll try for July. A million things can happen between offer and exchange (as you'll see if you read the other threads there!) which is out of your control anyway, so you can't ever make guarantees. You might find somewhere tomorrow but still find July becomes a problem. Don't stress too soon - it's a stressful process, save it for when you need it!

Thanks everyone that's exactly what we will do!