The benefits of buying a chain-free property
Occasionally when viewing the properties across our website, you may see three magic words - ‘no-onward chain’. What this means is that the property you are looking at has no onward purchase and therefore has less chance of breaking down.
What is a property chain?
A property chain can be one of the most frustrating aspects of purchasing or selling a home. It is created when there is a link of buyers and sellers connected through their transactions. Each purchase is dependent on the success of the one next to it and if there is one negative step the whole chain could collapse.
When do things go wrong?
There can be lots of reasons why a property chain can collapse. It could be that someone changes their mind about selling their home, they might have a drastic change in circumstances such as a job loss or bereavement, they might find serious structural problems in a home that they were planning on buying or they might not be able to agree on a price and withdraw their offer or have an offer rejected.
Why do properties become available without a chain?
Occasionally we will list properties which have no-onward chain. This can happen when a property seller has inherited a property and simply wishes to sell it, the seller has another home already, the seller is relocating, the property is a new build or the property on offer has been repossessed.
Why should I take notice of a chain free property?
The uncertainty and worry that comes with property chains is removed when purchasing a chainless property. Instead of being part of a delicate continuum of buyers, your purchase is reduced to just two major parties. This means that you should achieve a quick and secure purchase.
For more information about moving to a new house, please visit our website - https://www.hudson-moody.com/ - or to talk to us about moving home, please give us a call on 01904 650650.