Is anyone moving now?

[Seventyseven7]

GreatGranny said:

Skodapondy said:

Now in conveyancing purgatory, why is that bit so bleeding slow?

That's one of life's great mysteries.

Friend in Sweden's son moved recently, everything took 4 weeks! (sold and bought)
She said that's normal.

In Perth, Australia the average wait from offer to completion is currently 21 days.

[CT05 Nose Cone]

Seventyseven7 said:

GreatGranny said:

Skodapondy said:

Now in conveyancing purgatory, why is that bit so bleeding slow?

That's one of life's great mysteries.

Friend in Sweden's son moved recently, everything took 4 weeks! (sold and bought)
She said that's normal.

In Perth, Australia the average wait from offer to completion is currently 21 days.

Meanwhile, I had my offer accepted more than 4 months ago, have less than 72 hours before I move in, and they're still quibbling before they'll exchange.

[MonzaEvo]

Some advice from PH if possible.
Marketed our house back in March 2024 and accepted an offer. House is in an ideal location for first time buyers, and in close proximity to public transport.

We're looking to relocate a fair distance away from the hustle and bustle - however, it's now been 8 weeks since accepting the offer and we have still yet to find somewhere. A lack of 3/4 bedroom properties coming on market, together with losing two properties through being outbid (presumably) despite offering more than guide price.

Would best route forward be potentially losing (decent) buyers and having to remarket - or making the decision to rent in the area we are looking to allow completion in a good time frame before being viewed as more attractive buyers ?

I'm currently indifferent with both scenarios, as neither guarantee the outcome we're striving for - and both have financial pitfalls and implications for our young family.

Any pros/cons of either would be great to muse over

[Little Lofty]

MonzaEvo said:

Some advice from PH if possible.
Marketed our house back in March 2024 and accepted an offer. House is in an ideal location for first time buyers, and in close proximity to public transport.

We're looking to relocate a fair distance away from the hustle and bustle - however, it's now been 8 weeks since accepting the offer and we have still yet to find somewhere. A lack of 3/4 bedroom properties coming on market, together with losing two properties through being outbid (presumably) despite offering more than guide price.

Would best route forward be potentially losing (decent) buyers and having to remarket - or making the decision to rent in the area we are looking to allow completion in a good time frame before being viewed as more attractive buyers ?

I'm currently indifferent with both scenarios, as neither guarantee the outcome we're striving for - and both have financial pitfalls and implications for our young family.

Any pros/cons of either would be great to muse over

Being in rented puts you in a much stronger position as a buyer, (as long as you aren't tied into a long tenancy).

[okgo]

Depends on the saleability of the house and strength of the offer I’d say. If it’s a great house and a fairly normal offer I’d expect you to find another buyer easily enough.

If it’s a top offer and it took a while to get it, I’d probably consider rented. Obviously being chain free is the best position to be in but it isn’t super common for houses I think.

Also given you mention your buyer is a FTB and it’s a good FTB house, these people are usually happy to wait as they’re all chain free of course.

[gmaz]

gmaz said:

Just heard that our 3rd buyer has dropped out, so back on the market it goes. That's 12 months on the market now, 3 buyers all of whom have dropped out for various reasons after stringing us along for months, knocking a bit off, knocking a bit more off, then f**king off.

Aaarrgh.

Continuing our story... the property went back on the market, after 3 days we had an offer, 98% of the asking price from a cash buyer, so we accepted.

A week later it turns out his cash is locked in an account and he cannot withdraw it until September.

[cayman-black]

gmaz , good luck some real dreamers out there.

[SunsetZed]

Little Lofty said:

MonzaEvo said:

Some advice from PH if possible.
Marketed our house back in March 2024 and accepted an offer. House is in an ideal location for first time buyers, and in close proximity to public transport.

We're looking to relocate a fair distance away from the hustle and bustle - however, it's now been 8 weeks since accepting the offer and we have still yet to find somewhere. A lack of 3/4 bedroom properties coming on market, together with losing two properties through being outbid (presumably) despite offering more than guide price.

Would best route forward be potentially losing (decent) buyers and having to remarket - or making the decision to rent in the area we are looking to allow completion in a good time frame before being viewed as more attractive buyers ?

I'm currently indifferent with both scenarios, as neither guarantee the outcome we're striving for - and both have financial pitfalls and implications for our young family.

Any pros/cons of either would be great to muse over

Being in rented puts you in a much stronger position as a buyer, (as long as you aren't tied into a long tenancy).

It does indeed. However having done this in the last few years there are negatives to consider, namely it's not easy to find rentals (especially shorter term ones), you'll likely have to spend money on a storage unit, you'll likely incur 2 lots of costs (for both solicitors and moving) and it can cause issues (or be a benefit!) for school catchment areas if you're moving in the time frame that you need to apply.

[normalbloke]

gmaz said:

gmaz said:

Just heard that our 3rd buyer has dropped out, so back on the market it goes. That's 12 months on the market now, 3 buyers all of whom have dropped out for various reasons after stringing us along for months, knocking a bit off, knocking a bit more off, then f**king off.

Aaarrgh.

Continuing our story... the property went back on the market, after 3 days we had an offer, 98% of the asking price from a cash buyer, so we accepted.

A week later it turns out his cash is locked in an account and he cannot withdraw it until September.

Another player. Relist it.

[pacenotes]

MonzaEvo said:

Some advice from PH if possible.
Marketed our house back in March 2024 and accepted an offer. House is in an ideal location for first time buyers, and in close proximity to public transport.

We're looking to relocate a fair distance away from the hustle and bustle - however, it's now been 8 weeks since accepting the offer and we have still yet to find somewhere. A lack of 3/4 bedroom properties coming on market, together with losing two properties through being outbid (presumably) despite offering more than guide price.

Would best route forward be potentially losing (decent) buyers and having to remarket - or making the decision to rent in the area we are looking to allow completion in a good time frame before being viewed as more attractive buyers ?

I'm currently indifferent with both scenarios, as neither guarantee the outcome we're striving for - and both have financial pitfalls and implications for our young family.

Any pros/cons of either would be great to muse over

We did a similar move last year, We went into a rental, First we didn't know if we would want to be out of London so far away. Turns out we love the area so bought a year later. Also estate agents put us as a big plus when we put in offers.

Your solicitors would be about the same as its 1 quote for selling and another amount for buying so that worked out about the same for us.

Moving costs were a lot for the big move but a lot cheaper for the second one when we moved about 4 streets.

If we were paying a mortgage for the year after interest it would of cost about 5 grand to be in a rental for a year so not a huge amount to make sure you like the area and if its the right thing to do. Not everyone does the big move and survives it.

[a311]

MonzaEvo said:

Some advice from PH if possible.
Marketed our house back in March 2024 and accepted an offer. House is in an ideal location for first time buyers, and in close proximity to public transport.

We're looking to relocate a fair distance away from the hustle and bustle - however, it's now been 8 weeks since accepting the offer and we have still yet to find somewhere. A lack of 3/4 bedroom properties coming on market, together with losing two properties through being outbid (presumably) despite offering more than guide price.

Would best route forward be potentially losing (decent) buyers and having to remarket - or making the decision to rent in the area we are looking to allow completion in a good time frame before being viewed as more attractive buyers ?

I'm currently indifferent with both scenarios, as neither guarantee the outcome we're striving for - and both have financial pitfalls and implications for our young family.

Any pros/cons of either would be great to muse over

Pros and cons. I don't expect you'll get less than a 6 month tenancy? Moving house is a pain in the arse if its going to be a short term I.e. moving to rental then on to new house. We did it for 3 months, with an informal agreement with an aquatiance. I hadn't rented for over 20 years and the going rate was IMO daft money.

Personally if the house your selling is desirable I'd stay put.

[Justhe-1]

gmaz said:

gmaz said:

Just heard that our 3rd buyer has dropped out, so back on the market it goes. That's 12 months on the market now, 3 buyers all of whom have dropped out for various reasons after stringing us along for months, knocking a bit off, knocking a bit more off, then f**king off.

Aaarrgh.

Continuing our story... the property went back on the market, after 3 days we had an offer, 98% of the asking price from a cash buyer, so we accepted.

A week later it turns out his cash is locked in an account and he cannot withdraw it until September.

TBH I don’t see this as unusual.

We are currently looking to buy, are in rented (rolling contract), and are 100% “cash” buyers, but our money is sitting across various 90 day notice accounts to obtain the best rate of interest we can get.

We do however have enough readily available cash to exchange immediately, so to me 90 days max to complete from exchange doesn’t feel unreasonable, given the estates agents I’ve spoken with are all quoting 10-12 wks to complete with no chain?

I assume your pot. Buyer must have been locked into a 120 day notice account/s though is they are citing Sept withdrawal.

[oblio]

We accepted an offer on our property towards the end of March and to date our buyers solicitors appear to have done very little. On our purchase side it's all just about good to go but our buyers solicitors haven't even sent any pre contract enquiries yet and their searches are not back either.

[CT05 Nose Cone]

Still waiting for them to exchange, now have 48 hours until the removal van shows up...

[CT05 Nose Cone]

Double post, but I still haven't exchanged and was able to confirm they were supplied with the information they need on Monday lunchtime. Sent several emails without reply, rang repeatedly with no answer until just before 5. Finally someone picked up, although when they casually informed me the person whose been dealing with it was off today I had to take a few moments to avoid losing my temper completely.

So now a very stressful night lies ahead, but at this point I'm thinking of going for the nuclear option - ring first thing tomorrow and tell them they have 8 hours to get this done, or the house comes off the market.

[normalbloke]

CT05 Nose Cone said:

Double post, but I still haven't exchanged and was able to confirm they were supplied with the information they need on Monday lunchtime. Sent several emails without reply, rang repeatedly with no answer until just before 5. Finally someone picked up, although when they casually informed me the person whose been dealing with it was off today I had to take a few moments to avoid losing my temper completely.

So now a very stressful night lies ahead, but at this point I'm thinking of going for the nuclear option - ring first thing tomorrow and tell them they have 8 hours to get this done, or the house comes off the market.

Normal behaviour in my experience. Best of luck.

[gotoPzero]

Joining the thread... listed ours about 2 weeks ago. Just had an offer a bit over asking.
Sleeping on it tonight but think we will take it as its a cash buyer.

[six port]

Ours had an acceptable offer on it 1 week after we found out the house we’d had an offer accepted on sold to someone else.

Lo and behold the agent rings me Friday 19:45 and asks if we still want it as the buyer lost their buyer.

So we now have memorandum of sales out and solicitors instructed.

It’s all a big game of roulette really so many variables it’s silly.

3 in the chain now so hoping swiftly does it as everyone seems very keen to get moving.

[okgo]

Went live yesterday - have 5 viewings booked for next couple of days. There’s one property we really like, and another we aren’t allowed to see (they’re both off market) until we are proceed-able - one is probably over priced a bit and the other looks like a bargain to me - neighbours sold a fair bit more.

Haven’t dared look at the financing side of things yet as I don’t want to depress myself but suspect that bitter pill shall need to be tasted soon.

[Mr Whippy]

okgo said:

Went live yesterday - have 5 viewings booked for next couple of days. There’s one property we really like, and another we aren’t allowed to see (they’re both off market) until we are proceed-able - one is probably over priced a bit and the other looks like a bargain to me - neighbours sold a fair bit more.

Haven’t dared look at the financing side of things yet as I don’t want to depress myself but suspect that bitter pill shall need to be tasted soon.

More proceedable bollarks.

I expect the seller to spend 3 months looking once they agree on a buyer, decide they can’t find owt, then decide not to sell