Q. I’m buying my first property and very excited but at the same time apprehensive as the sellers of the house I am buying now need to find a property themselves. I have asked how long this will take but my agent is telling me they can not say. I have suggested exchanging as soon as possible with completion when their ready but the vendors will not accept this, what shall I do, realistically I could be waiting forever for them to find the right property but I love the house?
A. I understand your predicament but at the same time you need to understand that the vendor has to get their property ‘under offer’ before they can find and offer on a property themselves. Now the vendors have sold – the agents in their chosen area will take them seriously as buyers and the likelihood of them finding now is so much higher as the agents will take them more seriously as buyers. Some vendors can be coaxed into moving into rented accommodation if they don’t find their ‘perfect property’ by the time their buyer is ready to exchange contracts, but some vendors are just not comfortable with that situation and want to remain put until they find a property that they are happy with. Of course you can’t be expected to wait forever and be assured that the vendors will not want to lose a chain free buyer so they will do everything they can to find as quickly as possible to reduce the risk of losing you. In my experience once a property goes under offer the vendors usually do find quite quickly as they are as keen as you are to move home. If you really feel like this is the house for you and I assume at this point you have viewed plenty of property to compare then relax and wait patiently for the vendor to find, be assured your agent will keep you regularly updated.