House sale - what would you do?

Get your estate agent to tell the person whose made the offer a 2nd viewing is taking place on Saturday and they need to honour it.
Get them to also tell the 2nd time viewer that if they want to put in an offer it needs to be done on Saturday, as you've had a favourable offer already. This is not unusual practice with estate agents. Then they all know the position. You go with offer 1 if none are received after the 2nd viewing. Remember you are paying for a service from the agents, make sure you get one!

If you don't have a place that's going through, find out the time constraints the would be purchaser has, if any. You can always accept an offer, and change your mind if you have no where to go I know that isn't an ideal situation but accepting an offer has to be the 1st step. Your first commitment is to yourself.

I recently sold a house as POA for a friend. I had 3 offers on or near the asking price. The estate agent set a day for final offers and I chose the one we felt most confidence in. I chose first time buyers at full asking price. That was September 3rd. Their mortgage was approved in principle, the estate agent checked the paper work etc, but there have been delays in releasing it. It is all a gamble but the estate agent is there to help. Wishing Luckygirl luck but I would go for the cash buyer. Your new home builder will wait as if you are a cash buyer he will be clapping his hands as mortgage approvals and delays are everywhere.

Sorry if this has been said: I'd accept the offer but still allow others to view (letting all know that there's been an offer accepted but viewings are going ahead) in case the current one falls through.

If these agents were acting for you during five failed house sales, I would change them.
They can't get financial details of the buyer who has made an offer , they don't have information about the prospective viewers; your current agent is useless but you stay with her because the firm is working with the builder of the house you want to buy, then the day you think you are able to make a firm commitment, that house is sold to a cash buyer. You have to instruct them to do everything.
They are stringing you along.

We are selling/have sold our house subject to contract.
We saw the house we want and having recently inherited some money didn’t need to sell ours to buy the one we want.
We put an offer in at the beginning of October,but are still sat here waiting to move.the solicitors just aren’t getting on with it. So much so that the people whose house we are buying are talking about putting their house back on the market.
We have and are doing everything we can but nothing is shifting the solicitors backsides. You have my sympathy.
This is turning me into a sleeplessgran.

Phone the man with the cash and tell him if he wants the house to buy it now, as you have other offers.

Sleepygran
Sadly at the moment solicitors are estate agents are inundated with work. It's 'he who shouts loudest' I'm afraid!
Ask them what is holding up your completion, if they say anything ask when it will be sorted. Call them back the day before it should be sorted asking if it is settled. Call them, call them again, and again! I know it's a hassle but what's the alternative? You'll be paying them anyway at this stage. Get the service you are paying for after all YOU are their client.
Start asking for exchange dates to be put in place if nothing is outstanding. Once this us done at least you know there is some commitment from the rest of the chain.
I moved before Christmas so I do know how it can be and i am speaking from experience. If I hadn't pushed, I'd still be wondering why.

I would set a date for exchange of contracts, not completion, Once you are exchanged the buyer is committed. The usual time to allow is 6 weeks.

A tricky decision to make, without the aid of a crystal ball! All you can do is follow your instincts and hope for the best. Good luck. Moving house can be so stressful.
Nothing in house buying and selling is moving fast right now. Because of everyone wanting to take advantage of the Government’s concession, which ends in March, there has been a big increase in house transactions. What with that, Covid, and the Christmas break house agents, surveyors and solicitors are up to their eyes in work. My daughter is in the midst of buying/selling, and everything is taking an age.

You’re paying an estate agent to sort it out - let them sell with it -they want the sale as much as you do. You have my sympathy -
I’m on buyers no.3 since March and have lost two properties! Have now found another which is tenanted and I don’t think the tenant will move out in time for my buyers (omg - what a nightmare our system is). Good luck hope all works out .

All gone pear-shaped really now.

Agent has established that buyer will be able to proceed very quickly - but now the house I am going to buy has been sold to someone else today - he had held onto it for me for months, but could not wait any longer - so I doubt whether my buyer will wish to proceed because my alternative purchase will not be ready till April, which is after the stamp duty holiday. No buyer looking around now will accept that.

I have 3 other potential buyers booked for Saturday - I guess I will need to cancel them.

If I sell to my current buyer (who will want to complete before end March) I will have to put my furniture in store and rent a holiday cottage or something while waiting for purchase of the alternative house.

I have no idea how to proceed now.

I would go for the cash buyer if possible. I sold mine last year, first time buyers who told my agent their mortgage was all in place. I was buying an old empty wreck of a bungalow to do up, so only two of us in sale. Waited and waited for their surveyor to contact me, heard nothing after 5 weeks, so challenged them only to be told their mortgage was rejected! I had house off market and I had had another lady who had been interested but needed to sell hers and she had taken hers off the market cos I was supposed to of sold mine. I was lucky enough though as a cash buyer came along 2 weeks later and bought it and the sale went through in 5 weeks. I've bought, refurbed and sold 10 houses now and I do love a cash buyer, find a lot less hassle.

I'd sell it and rent ,then you can spend time planning your new home .Dont let it drag you down ,its just a different route to the same conclusion .If you're like us you'll have far too much stuff for your new place so this way you have time to decide what you really need to take with you .

Do that; sell it and rent.
You can put all your possessions into store so it will all be sorted, ready for when you move in, plus you can supervise the building of your house and be on hand for decisions about finishings and fittings. My 72 year old friend, not in good health, did that because her house would not sell, then a buyer wanted it but wanted it immediately, so she moved at great speed, and lived with for several months, and survived, the son and daughter in law. She was also the buyer from hell with the construction company; needed to be, but it is all lovely now.

There’s no rush now. Sadly the property you wanted is no longer available so take a breath.

Let this buyer know that you cannot complete before April at the earliest. It’s up to him them to decide if he will delay his sale or go ahead and rent for a while. There is no reason for you to be the person in the chain that does that, unless it is to your advantage in some way.

Renting and storage is expensive and, as you know which property you want to buy, will not benefit you in being able to make a reduced offer for cash.

Then reinstate the other viewings if you can and see what other offers are made. It’s perfectly acceptable for you to choose your buyer and have other viewings as long as you are transparent about it. You have to do what seems best to you, not be backed into a corner by what a buyer wants, particularly as a number of people are interested.

I hope all goes well ?

I would give the cash buyer the opportunity to proceed, having first got the estate agents to examine the finances. One thing I do know is that you are not always told the hold truth by anyone when buying and selling houses.

Just give yourself a break. Sell the house to the cash buyer if definitely genuine, and rent a holiday place, putting stuff into store.

Once the house is off your hands you can relax a bit, and also have time to sort new house before you move. Only downside is paying the stamp duty.

It's so much easier to just sell, rent and then buy.

It seems far too difficult to coordinate the buying and selling. Too much stress all at once.

Rent a garage for the furniture (or a place with a garage).

You then have the great advantage of being a cash buyer for a new place. You can jump on an opportunity, get a bargain - and avoid being let down.

Last time we moved, the house we really wanted was quickly sold. We put a note through the door, with our contact details, just in case the sale fell through.

For some reason, the 'buyer' went abroad and couldn't be contacted. The seller lost patience and sold to us - at a discount - as he'd moved and had an expensive bridging loan.

He had no estate agent fees to pay, though - as we hadn't used them - so everyone was happy.

Luckygirl, what a nightmare you are having. Sell the house you will have money in the bank and something may well turn up just where you want. Bird in the hand and all that. The very best of luck.

Could your estate agent help you/ advise you. It might be that he/she knows of a place you could rent for 6 months or so. If it’s just you it wouldn’t be so bad and it would give you that extra time to have a good look around and you would be all ready to go....
A holiday cottage sounds like a good idea as most owners would be happy to let for a short period. I would stick with the cash buyer.

Sell now and rent.
When purchasing cash is king and as you know speed is important!

Luckygirl I would sell and rent. At least you will have the money in the bank. And it will give you a breathing space. Not what you really want. But you have been let down 4-5 times if I remember correctly. At least you would have sold. And that's what you really need for piece of mind.

lucky if you know you would like the house the builder will have ready in April and it’s in the right place why not accept the cash offer and rent for a short while. You’ll have certainty then. Storing your furniture may seem daunting but the company you choose will advise and manage it for you. It does sound as if you need something definite, the not knowing seems to be getting unsupportable.

Latest development: the builder is going to prioritise the house that I am interested in to get it finished first, and if I am unable to complete by the time my buyers wish to be in, he will rent it to me while the legal stuff is going on.

But if my buyer (who is prepared to wait till March) can complete on here by then, I see no reason why my sale should not also be complete in time if I decide to go for it.

I am going to look in detail at the proposed property on Saturday - it will I know be beautifully finished, as this builder is well known for this, and it has
exceptionally fabulous views. But I need to look at all the other factors that need to be taken into consideration, particularly as it is down a small hill - not steep - less steep than here really - but I had hoped to have the original house where my limp etc. would not have been a problem as it is on the flat. The big factor for me is being back with my friends and part of a community.

Thank you for patiently listening to my rantings - my head is in a bit of a spin.