A property chain is a sequence of linked house purchases each of which is dependant on the proceeding and succeding purchase. The reality is that there is often a long chain of buyers and sellers, all linked together.
The average property buyer in the UK will need to sell their current property in order to fund a new purchase. A property chain is formed when you are selling your home to buy from someone who is selling their home. Unfortunately, a quarter of all house sales fall down because the chain breaks. When this happens, everyone that is part of the chain is affected and a new buyer has to be found.
When you are part of a property chain, one person exiting the chain for any reason can lead to a complete collapse. Are you in such a situation? Have you had the chain break on you at any point? Contact us right away to get you out of that problem. We have helped many homeowners across the UK to quickly complete a sale with minimal fuss.
There are many reasons why a property chain can come unstuck. Some of these are included below:
Survey revealing concerning information
A house survey can point out defects that may have been unnoticed by buyer and seller. When this happens, the deal can end if both parties are not able to come to terms on how to factor in the defect into the sales negotiations.
This is especially true with minor structural issues.With more severe issues, it could be difficult for the buyer to secure a mortgage forcing them to look elsewhere.
Buyer and Seller Disagreements
Even when a price has been agreed upon by both a seller and buyer, a disagreement can arise and scupper the deal. A “simple” issue such as minor repairs or similar can be the focal point of a disagreement. There are many things that can go wrong. When both parties involved are unyielding, the deal falls through.
Failure To Secure a Mortgage
If any constituent of the chain fails to secure a mortgage, everyone else will be affected. Unfortunately, there are a variety of reasons for a mortgage being declined that are out of the hands of both buyer and seller.
In some cases, conveyancing could take months or more, holding up the entire chain for everyone involved.
There are numerous examples of sellers simply changing their mind about a property and taking it off the market for a number of reasons. When that happens, buyers are left with no option but to find an alternative. This can sometimes be months later when substantial costs have been incurred
We Buy Your Property with Cash
If you are thinking of selling your property. Simply fill out our house valuation form and a member of our team will be in touch with an initial offer quickly. When you accept the offer, we can proceed with a proper valuation and then make you a formal offer. With us, there is nothing to worry about as we take care of all aspects of the sale. We can work to a date that suits you.
Selling your house fast for cash is a quick and effective way to avoid all property chain related issues. When you are not a part of the property chain, you are at an advantage when compared to other buyers and sellers in the market today.
We don’t have any need for an analysis of your financial situation or an inquest into why we are selling your home. We can provide you with a cash offer for your property and make it easy for you to have your cash in as little as two weeks. Regardless of the condition of the house and your location anywhere across the UK.
Please contact us right away to begin the process of putting your cash in your pocket!