Taking the Pain Out of a Property Chain
‘No onward chain.’
When searching for a new place to call home, the above phrase catches people’s eyes.
But why?
Well, no onward chain means the home you are interested in is owned by someone who, for whatever reason, isn’t selling it to facilitate their next move.
Theoretically (and often practically), this makes the home easier to purchase as you’re not relying on the owner finding or having to finance a new property.
If a property transaction is part of a big chain where people need to sell before moving, the risks of things falling through are raised. The rule of thumb is that the more people involved, the more potential problems and delays.
But it’s not a reason to worry. Here’s how we use our experience to help our clients involved in property chains make it to the finish line and move successfully.
1) Clarity – Whenever we are involved in a chain, our first step is to determine the situation of every other buyer or seller involved.
2) Communication – This is an essential part of keeping a property chain intact. We regularly contact all parties involved in the sale, banks, solicitors, and other agents. This proactive approach heads off any issues before they become problems.
3) Organisation – We’re very organised, and reminders to follow up with people involved in the chain are set out clearly. We also encourage our clients to have their paperwork in order, as this speeds things up and removes potential hurdles.
So, a property chain isn’t something to be feared. Instead, it’s often part of the property selling process that simply needs to be managed by experienced professionals.
If you need any help or advice about selling your property, get in touch with us today.