Waiting to move - offer accepted and getting cross now
Discussion
Hello all, I’m after some advice on whether my expectations are too high/whether I’m being unreasonable.
I had an offer accepted on a flat in March. Since then, my vendors have had their offer accepted on a house, and the next step of the chain has too. BUT the chain is still incomplete as the lady above them hasn’t found anywhere yet.
So I’m getting impatient with the 3 month delay and want to move things along. Would I be unreasonable to tell the estate agent that I want a suggested completion date provided by the end of June, and that if he can’t sort that, then I’ll start seriously looking at other flats? The evil side of me wants to say that I’ll reduce my offer for every month that goes past, but that feels like I’m going back on an agreed deal.
So, what would an appropriate next step be?
I had an offer accepted on a flat in March. Since then, my vendors have had their offer accepted on a house, and the next step of the chain has too. BUT the chain is still incomplete as the lady above them hasn’t found anywhere yet.
So I’m getting impatient with the 3 month delay and want to move things along. Would I be unreasonable to tell the estate agent that I want a suggested completion date provided by the end of June, and that if he can’t sort that, then I’ll start seriously looking at other flats? The evil side of me wants to say that I’ll reduce my offer for every month that goes past, but that feels like I’m going back on an agreed deal.
So, what would an appropriate next step be?
Well, you might not want to hear it, but I reckon you are being unreasonable. A 3 month delay isn't abnormal, the place we're living in now we bought in June but didn't complete until November and the folks we bought from had already got their next house sorted. The longer the chain, the more the hassle/delays.
But there's no harm in talking to folks to see if they can speed things up.
If that fails then you could drop a few subtle hints to their agents that you're desperate to move, with the implication that if there's no end in sight you might be forced to start looking elsewhere. That could get their agents on your side simply because they only get paid when a sale is completed. But if the chain isn't complete, then it's likely that someone, somewhere, will be moving into rented accomodation which is dead money and with the chance that the housing market could take off before they get back in.... not something I'd do myself if there really are signs of recovery around.
Selling houses gets strangely emotional with seemingly illogical results. For example, we'd already bought our new place with a bridging loan and thus were paying a fair bit each month so you'd assume we were very keen to complete our sale. But when our buyers suddenly decided to move the completion date forward a month to the extent of booking their removers and carpet fitters without discussion, we told them to clear off. Paying the bridging loan bothered me far less than the hassle of moving a month earlier than planned into an unfinished house. Illogical to some eyes, but not to us....
Ok, I know you're not going that far, but it's worth bearing in mind if you decide to start reducing your offer because there may be considerations you aren't aware of at the moment.
Despite all that waffling I can see your frustration. It's quite understandable to ask if it can be completed earlier, you just need to go carefully and suppress that evil side !
But there's no harm in talking to folks to see if they can speed things up.
If that fails then you could drop a few subtle hints to their agents that you're desperate to move, with the implication that if there's no end in sight you might be forced to start looking elsewhere. That could get their agents on your side simply because they only get paid when a sale is completed. But if the chain isn't complete, then it's likely that someone, somewhere, will be moving into rented accomodation which is dead money and with the chance that the housing market could take off before they get back in.... not something I'd do myself if there really are signs of recovery around.
Selling houses gets strangely emotional with seemingly illogical results. For example, we'd already bought our new place with a bridging loan and thus were paying a fair bit each month so you'd assume we were very keen to complete our sale. But when our buyers suddenly decided to move the completion date forward a month to the extent of booking their removers and carpet fitters without discussion, we told them to clear off. Paying the bridging loan bothered me far less than the hassle of moving a month earlier than planned into an unfinished house. Illogical to some eyes, but not to us....
Ok, I know you're not going that far, but it's worth bearing in mind if you decide to start reducing your offer because there may be considerations you aren't aware of at the moment.
Despite all that waffling I can see your frustration. It's quite understandable to ask if it can be completed earlier, you just need to go carefully and suppress that evil side !
V8mate said:
Tam said:
So, what would an appropriate next step be?
Put your flat back on the market with a different agent - ask for first-time/cash buyers only 
It does sound like if a deadline is set, there is no reason why the deadline can be met. What if the top of the chain finds somewhere, but then THEY become the top of the chain, and have to keep going?
I would just keep looking for a property where completion can be reached sooner.
RichBurley said:
V8mate said:
Tam said:
So, what would an appropriate next step be?
Put your flat back on the market with a different agent - ask for first-time/cash buyers only 
I thought that he was doing both.
3 months is not a long time to wait. however if you have no chain behind you and are in effect a cash buyer then you are in a commanding position (from my pov) I would do exactly what you suggested
If I was selling you the flat, I would make sure I didn't lose out on you so would move into temp accom myself in order to complete the sale, certainly in this market.
If I was selling you the flat, I would make sure I didn't lose out on you so would move into temp accom myself in order to complete the sale, certainly in this market.
Tam said:
so I'll try talking to the estate agent and explain that I'll be looking at other flats if things drag on.
If you go to the same estate agent and get details of more flats available with them then they wont be too bothered as you will probably end up paying them commission on that one anyway. I would driop it into conversation that you are viewing flats with other agents too, then they would have the possibilty of losing a sale and will work harder for you IMO.I feel your frustration, we are waiting to move into our house and are currently living with the in-laws awaiting completion.
All the best
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