A break in the chain is one of the worst things that can happen when buying a home. In fact, you’re better off avoiding being in one.
Recent studies have shown that chain breaks help contribute to 300,000 property sales falling through each year.
We recently published a blog highlighting just how much money is wasted due to collapsing sales – a staggering £818million.
One way to avoid this is by avoiding being caught up in a chain, and there are a number of ways you can do that…
Find a Buyer Who Isn’t in a Chain
Sounds obvious, but it’s not as easy as it looks. Many buyers will also be in a chain themselves. One thing to take note of is that the highest offer may not always be the best one. If there a lower offer that involves no chain, it may be a wise decision to accept that one.
Find a Seller Who Isn’t in a Chain
It works the other way round too. If you’re looking for another home to move into, it may be worth seeking out a seller who isn’t in a chain too.
The same reasons apply. Chains slow the process down and once it’s broken it can cause all manner of problems.
Make Yourself Chain Free
Naturally, you may have to juggle a few things in a chain yourself. However, selling up and moving in stages may be a good option.
Selling your home and then moving into temporary accommodation, whether that be rented or perhaps a member of the family or friend, will leave you chain free when buying and more appealing to sellers.
Think About a New Build
Naturally a brand new home is without an occupier to begin with and therefore you’ll have no chain to deal with and can move in much quicker.
Additionally, to speed the process even further you could sell your house via a service like ours, where we deal person-to-person and can exchange contracts within as little as 48 hours, meaning you’ll have the keys to a new home in no time.