How property chains work and what this can mean for you as a buyer or seller

A property chain is exactly what it sounds like – a connection of links between a number of home owners and buyers.

If you would like to buy a property that is part of a chain, the status of your move will rely heavily on the plans of its present occupants. In other words, you can’t move in until they have moved out to their new home. Consequently, this means your buyer cannot move into your existing home yet either.

If you see a property that is listed as having ‘no chain’, or ‘no upward chain’, this means you can move as soon as your Solicitor has completed all the legal requirements. This is commonly the case with new build houses where you will be their first occupant.

If any part of a property chain breaks, this will have a knock-on effect on everyone involved, which means the shorter your chain, the better. Property chains can get held up for a wide variety of reasons, such as inefficiency of agents and legal teams, mortgage offer expires, issues with funds, negative surveyor reports, or even something as simple as someone changing their mind.

If you would like to purchase a property with a chain, you don’t have to worry that it’s a hopeless goal. Many chains do run smoothly and successfully, and we are here to support you through the entire process to avoid any and all issues that might arise. For more information or to get started on your home buying journey, please don’t hesitate to give us a call.