A property chain is a number of linked conveyancing sale and purchase transactions that are all reliant upon each part of the chain to complete. Chains can be short, i.e. you are selling your property to a first time buyer and you are buying a property that is empty. Chains can also be quite long with many sets of sellers and buyers who all want to move on the same day.
Buyers and sellers often worry about their chain collapsing and how best to manage a long chain. Moving home when there are two people in a chain is stressful enough, however when there are multiple people, just one slow party can have a ripple effect up and down the chain. This is why it is so important to know how many people are in your chain and find out their circumstances.
If a part of the chain becomes particularly slow, it may be possible to break the chain by asking the party with the delay to move into temporary accommodation to allow the rest of the chain to proceed.
Our specialist teams can assist with complex chains. Please contact a member of our team for assistance or visit https://hewitts.brighterestimates.co.uk/Quotes/New#/index for a free conveyancing quote.