What to Do When Buying a House in a Chain Goes Wrong
Aside from first-time buyers, most people who are looking to move into a new home are buying a house in a chain. When it comes to the property market, the chain is when you are buying a home but also selling your current property with each house effectively acting as a link in a chain.
If one sale falls through this can lead to other sales collapsing or becoming delayed. This is process is therefore known as breaking the chain and roughly a third of all house sales each month break down because of a broken chain. Scenarios like this are where property buying teams such as A1 Home Buyers UK come in very useful. They buy houses for cash and can provide a valuation and completion of the sale in just 5 days.
If you would like to hear more about our broken chain services and get a free cash quote for your home now then simply click here.
Moving house in a chain
Normally when people are moving house in a chain the reason that the sale of their existing property could fall through is that the person buying it has struggled to raise the sufficient funds needed to complete the deal. If this happens to you then you can be left in the lurch and in desperate needs of quick funds in order to complete the purchase of the home you were seeking to move into. A1 Home Buyers will buy any home or property and can perform the exchange as quickly as possible or can also allow extra time for you to move into your next home if that is what you require.
Sales can fall through when you are buying or selling a house in a chain because an offer on a property is not legally binding meaning that until the exchange of contracts no sale or purchase of a home is guaranteed. This can leave homeowners desperately seeking a quick sale so they do not lose out on buying the property they have an offer on themselves.
Buying a house in a chain
A1, a nationwide property purchaser, have a three-step process to allow you to sell your house fast. To begin with, we make an initial offer based upon the current market value of your home and this is then followed by a formal offer following a valuation from two independent local agents. We cover all solicitors and surveyors’ fees. Finally, upon agreeing on a fee we exchange contracts at a time that suits you, which then allows you to continue buying a house in a chain.
To learn more about moving house in a chain, the best course of action is to get in touch with our experienced team who can provide a free instant evaluation of your property. We buy properties in every part of the UK, including the Channel Islands, and all our offers are free of charge and made without obligation.
Contact A1 Home Buyers UK today to begin the process of selling your home quickly for cash. We buy properties no matter the condition and all sales are made with complete confidentiality and discretion.