Vendor not suited

[TidyPanda]

Hi I have recently made an offer on a house which has been accepted. I am the end of the chain, nothing to sell. The vendor has not found anywhere as yet, she has been out looking, apparently.

How long would you give them before you would be getting impatient? I know from experience it takes time to find somewhere, but it has already taken 4 weeks just for a sales memo to be issued. The agents have advised me not to instruct a surveyor until the chain is complete which makes sense but I want things to get moving!

I had exactly this. After just over 6 weeks of them having found nowhere, with my buyers getting a bit angsty I started house hunting again and found an even better house for less money, and chain free.

When I rang the agent to say I was withdrawing my offer, she said she didn’t blame me!

Nearly 4 months later and they’ve not yet sold it again (I keep looking!).

4 weeks to be offer accepted - it’s a buyers market.

We were in this situation as the vendor. We found a house in around a week. We already had quite a few saved on rightmove so it was a case of arranging viewings and going to look at them. I think 4 weeks is too long already.

Just keep looking and if a good alternative comes up switch to that

Thanks, I wasn't sure if I was being unreasonable. It is 5 weeks on Monday, I am still on Rightmove checking what comes available. I think I'll give the agents a ring tomorrow and put the pressure on.

It’s a slow market, there’s not really much they can do about it? No one is going to move to a house they don’t love, so I think YABU. If it were me, I’d be taking as long as it took to find my perfect home, if that meant getting a new buyer along the way then so be it.

You're not being unreasonable. I agree with the advice to keep looking yourself at other houses because if they aren't committed to the deal, neither should you be.

It is their right not to move into a rental if they can't find anywhere to buy. But equally, it is your right to keep looking at other properties in the meantime.

If i were the seller I would move to rented to avoid losing a buyer.

I would be very much considering it as an option in this buyers market.

Not everyone can do it, but possibly time for the EA to put a little pressure on, or risk the deal falling apart if OP finds somewhere else.

I wish that people in your position didn't accept offers. It wastes so much time.

OP, YANBU.

I agree with those that say to keep looking. You may find something you prefer. It's also reasonable to call the agent.
A lot of people seem to be finding it challenging to sell at present so it would be wise for the seller to at least consider renting to keep their buyer. How quickly did these sellers take to have an offer @TidyPanda? That may well affect their decision here.

They put it on in February. No interest until they reduced it at the end of May. No offers or second viewings until I offered at the end of June and the offer was accepted after a week. It really is a buyers market, and I think they would be foolish to lose me. Not sure the vendor would be able to rent though, rents are sky high in this area and she is on her own.

Given those circumstances, I totally agree with you. Quite a few sellers seem to be deluded about the state of the housing market though. No harm in speaking to the estate agent and continuing to look around.

Keep your offer on the house but keep looking for properties at the same time

But if you don’t accept an offer on your house then you can’t make one on another house yourself - so how do you expect the chains to be made!? That’s the way it goes, you get an offer on yours, then find a house you want. The vendors shouldn’t be forced to buy a house they don’t like because their buyers are impatient. Chains take time for this exact reason.

Would you accept an offer from someone who hasn’t already had an offer on their house? No one does. Either OP is patient and waits or they find a new house to buy and their vendors find a new buyer whilst they continue to search for their new home.

Renting is a huge deal and not something most people would consider. It’s very reasonable to ask her if she’d be able to, as you never know, but I doubt many would agree to it, buyers market or not.

Yes you have a point that of course you need a buyer to make an offer on another property, but read your last line, 'find a new buyer while she continues to search for their new home'.

This is what she hasn't done, she didn't view any until a week after my offer was accepted. Second viewings 2 weeks after and no offers made according to the EA. Surely when you have a cash buyer, you'd get a move on? There is no sense of urgency or commitment, that is my issue.

It’s absolutely ok for you to want it to speed up but at the same time it’s ok for her to take time to find her ideal home. If she works full time or has a busy schedule for any reason then it’s perfectly normal to take a week to see a property or another week for a second viewing. Perhaps she didn’t like the property much but viewed it again just in case while waiting for a better one.

If you aren’t ok with the pace it’s taking, find another property, you aren’t tied in.

You may be right, she may be a messer, or she may be particular or have particular needs you’re not aware of. Buying a house is a very stressful process so I do understand how you feel, I’m just trying to be balanced and whilst it’s stressful for you, it will be stressful for her too.

Get yourself back out there looking at houses and see which chain gets complete first.