A property chain is generated when a homebuyer and a seller will be able to complete their deal after another property sale is completed first.
If you’re selling a property to someone who has to acquire money from another purchase and your offer is already accepted, you will have to wait for them to complete their other deal first so they can fund the purchase from. In this case, there’s a property chain that will delay the new deal until the previous is complete.
A property chain is generated when a homebuyer and a seller will be able to complete their deal after another property sale is completed first.
If you’re selling a property to someone who has to acquire money from another purchase and your offer is already accepted, you will have to wait for them to complete their other deal first so they can fund the purchase from. In this case, there’s a property chain that will delay the new deal until the previous is complete.
Respectively, a buyer might be in a property chain because the seller is waiting to find a new house before selling his old one, the reason for forming of a property chain may come from both sides.
The sooner both sides deal with the property chain, the faster they’ll complete the property sale/purchase deal between them.
Depends on the scale of the chain if there are any issues or delays with it. If there’s a chain from both sides (seller and buyer), the house move will be delayed with months.
The average time to move house with a chain is approximately up to 4 months when there is a property chain with up to 3 properties.
In case there’s a break in the chain and deals fall apart, expect delays in your house move of up to 6 months.
If you’re looking for a new home to move into and there’s no property chain at all, you can have your house move completed in 2 months or even less.
Things such as hiring good solicitors, real estate agents and using the services of a professional removals company will undoubtedly speed up the whole process of relocation.
