House Buying Delays

[henry1]

We have sold up two months ago after our house had been rented out for two years and we were living in rented accommodation in another area, found a house we liked and agreed the asking price, the vendors said if they did not find a new house quickly they would move in with family so two months on and having paid for surveys and searches they have not found anywhere and are still looking, no more talk of moving in with family. We like the house but think we should cut our losses and find another so we are viewing one tomorrow.
Do you think two months are long enough to give them, their agents would say ' they are looking hard', we phoned on Friday to be told the guy handling them would call back with an update but no calls, we are fed up with renting and need to settle down.
henry1

 

[envy]

issue an ultimatum so no they know you arent messing about but in the interim, have a contingency property lined up and hopefully something better. dont let them fob you off with looking for a place to stay, there are hundreds of properties up for rent where they could move to if they really wanted

the estate agents will soon show some gumph when they realise they are going to lose a sale and miss out on their commission

 

[srhutch]

As above really.

 

[StevenH72]

We have sold up two months ago after our house had been rented out for two years and we were living in rented accommodation in another area, found a house we liked and agreed the asking price, the vendors said if they did not find a new house quickly they would move in with family so two months on and having paid for surveys and searches they have not found anywhere and are still looking, no more talk of moving in with family. We like the house but think we should cut our losses and find another so we are viewing one tomorrow.
Do you think two months are long enough to give them, their agents would say ' they are looking hard', we phoned on Friday to be told the guy handling them would call back with an update but no calls, we are fed up with renting and need to settle down.
henry1

The exact same situation happened with us. We had to pull out eventually. Sadly it's a seller's market at the moment down south. We wasted 17 weeks and £1500 on surveys, searches etc.

Our vendor agreed to move in with family. Then changed their mind and said they were going back to market as things had gone so crazy price wise. We agreed to up our offer by £12k (~3%), they agreed and said they'd move out as soon as we were ready. 4 weeks later the solicitors were ready to exchange. We agreed a completion date of 1 August, but contracts didn't exchange for a week. Our solicitor was then told by the other side that the vendor wanted to firm up living arrangements with parents before exchanging. Another week passed and nothing, then the vendor said that they were no longer willing to move out, so we had to pull out.

One of the most frustrating processes of my life. Not a great time to be in the property market sadly, and an even worse time to be out of it. We've effectively been off of the 'ladder' since March....just before things moved by about 5-10%. You can't judge these things in advance sadly, but we're probably £30k worse off as a result....could have bought an E46 CSL for that!