Property Chains – Don’t let them break you

  • By Dan Green, Home Selling Expert Founder
  • 4 minutes read

Table of Contents

Get A Free
No-Obligation Offer
lock 100% secure & confidential. Data protection registration number ZA065473

I'm a property expert that still remembers the days when having broadband was a selling point! My articles cover issues that homesellers face in the UK and answer the questions we're all asking. I've bought and sold properties and helped others do the same, so my writing comes from years of experience.

Read Full Bio >

Whether or not you have purchased a property before you have probably heard of the term ‘property chain’. The term relates to the linking of house purchases. Here is an example of a very short chain:

Chain

In this chain, Annie is a first-time buyer and therefore there is no one in the chain behind her. She is looking to purchase Craig’s home. Craig is looking to purchase Elizabeth’s home as it has the space he requires. Elizabeth has no one after her as she already has a property lined up but needs the cash from the house sale to make the move and fund her new life in Europe.

 

For Elizabeth to get the cash she needs, she is relying on Craig but also Annie. Without Annie’s purchase of Craig’s home, Craig would be unable to fund his purchase of Elizabeth’s.

 

So, what happens if there is a break in the chain? Maybe it turns out Annie can’t fund Craig’s property or Craig has discovered something about Elizabeth’s property in a survey that means he no longer wishes to purchase it. This is what is termed as a ‘break’ in the chain. Many chains can reach up to double figures in links and any issue can bring the whole chain collapsing down around you.

 

Before putting an offer in on a property it is important to ask if the sellers are part of a chain and if so, how long is that chain. It might make you think twice about putting an offer in but don’t let it put you off. Most properties on the open market are part of chains so it will be hard to avoid.

YOU MAY ALSO LIKE:  Can I Sell My House and Give the Money to My Son? UK Guide

If you are in a chain the important thing to do is to ensure you are doing every on your end to keep the chain moving. Ensure your finances are all in order and you have a mortgage in principle. Ensure that the next chain in the link is close to completion as best you can by staying in regular contact with your agent and solicitor.

 

For more property advice or expert help on selling your home contact us today. Our lines are open 24/7.

By Dan Green, Home Selling Expert Founder

author

By Dan Green, Home Selling Expert Founder

I'm a property expert that still remembers the days when having broadband was a selling point! My articles cover issues that homesellers face in the UK and answer the questions we're all asking. I've bought and sold properties and helped others do the same, so my writing comes from years of experience.

Read Full Bio >

Success rate when selling
through estate agents

Selling to house-buying company

  • Formal offer within 24-48 hours
  • Complete in as little as 14 days
  • No contracts - change your mind if you aren’t happy
  • No viewings or chains
  • Sell your house as-is
  • Sell for approx 80-85% market value
  • Some disreputable companies

Selling with Estate Agent

  • Wait for viewings and offers
  • Delays with solicitors
  • Lengthy contracts - can’t withdraw
  • Viewings at inconvenient times, many will be in chain
  • House should be at its best to impress viewers
  • Get the highest price possible
  • Estate agents are tightly regulated

On average, you should expect to sell for 85-90% of you property’s full value when selling by auction.

Tags

100% market value add value are bungalows hard to sell average time best we buy any house companies can estate agents lie about offers Can I Sell a House with Old Wiring Can I Sell My House and Give the Money to My Son? UK Guide Can I sell my house if my husband or wife is in jail? Can Someone with Dementia Sell Their House? Capital Gains Tax Capital Gains Tax Property cash buyers only property sales cheapest way to sell house choosing an estate agent Do I Need an EPC to Sell My House? do I pay tax when I sell my house Does Underpinning Devalue My House? Energy Performance Certificate EPC EPC Certificate Equity Release estate agent selling fees exchange-of-contracts fees when selling a house full market value Gazumping HETAS certificate house buying companies house not selling house won't sell How Does Modern Method of Auction Work? How long will it take for me to move house after an offer has been accepted? How many mortgage payments can be missed before repossession How much will i make selling my house calculator How to sell an inherited house in the UK if i sell my house can i still claim benefits uk If i sell my house can i still claim universal credit? inherited house is it a good times to sell a house is Mouseprice accurate Leasehold Mortgage My Ex Won't Sign to Sell the House negative equity calculator preventing repossession Property Buying Property Conveyancing Property Ombudsman Property Selling property tax Property Tips Restrictive covenants and house sales: everything you need to know reviews for we buy any house sell a house that was gifted sell a property that was gifted sell house fast sell house faster sell house for £1 sell house for one pound sell house for one pound to son Sell house quickly tips sell house to daughter for £1 sell house when partner refuses sell house with Artex ceiling sell house without deeds sell house without party wall agreement sell my bungalow selling a house and buying a new one calculator Selling a House to Pay for Care selling an inherited house Selling Home to Pay for Care selling house Selling House Quickly Selling Leasehold Property Selling Property Selling Property to Family Below Market Value Selling Property When in Debt Selling Property with Absent Freeholder Should you sell your house to get out of debt? Tax On Selling House tax selling property The Property Ombudsman we buy any house companies we buy any house reviews We Buy Any House Scams what circumstances can you force a house sale uk What do You Legally Have to Disclose When Selling a House UK What does 'under offer' mean? What happens when a leasehold ends? What is the best way to sell a house fast in 2024? what not to fix when selling a house Which questions should I ask an estate agent when I’m selling my home? Who is the best company to buy your house? Who is the Vendor? Why house sales fall through Why Isn't My House Selling? Zoopla estimates