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What Are The Main Reason Of People Putting There House Up As No Chain?


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Indeed, it is of absolutely no consequence to the buyer.

It does mean you're not going to be hanging about while the sellers find a place to buy. It also indicates that the sellers may be reaosnably motivated - they either are prepared to rent to expedite a sale or they've already moved out and are more inclined to want to sell fast

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Having been viewing properties on the net over many years quite a few in this part of the wood are either priced for a quick sale or have no chain. What are the main factors of people selling with no chain?

Because it's such a PITA waiting for people in a chain to decide that they really do want to move that I won't even bother to view a house with a chain above it

tim

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Having been viewing properties on the net over many years quite a few in this part of the wood are either priced for a quick sale or have no chain. What are the main factors of people selling with no chain?

We are (trying to!) sell with no chain at the moment, because we will rent for a while if and when we sell.

The main reason is that we want to be in a better position for buying our next house - not having to rush to make a decision because we have a moving date and have to find somewhere, being more attractive buyers as we are ready to carry out the transaction, and hopefully less risk of wasting money on surveys etc etc only to have our own sale fall through

I'd say that most cases though are those the other posters have suggested - deaths, people moving into care homes or with relatives, accidental landlords, BTL and second home owners.

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Some other reasons why there might be "No chain" that I've come across...

1) Probate sale

2) Second home of some description

3) Seller moving abroad

4) Older person moving to care or to live with children

Owner recently jailed, and Crown realising the convict's assets?

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It is of consequence. I am currently looking and am only prepared to view properties wheer there is no chain. As someone who has been involved in property for many years I know it is by far the easiest and fastest way to buy. Tghe more people in the chain the slower it will be. theer are more chances of someone changing their mind and pullling out. More opportunies for a buyer in the chainto be refused a mortgage, a solicitor to be totallyb useless and many other factors that cause chains to break or crawl on a a snail's pace.

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It is of consequence. I am currently looking and am only prepared to view properties wheer there is no chain. As someone who has been involved in property for many years I know it is by far the easiest and fastest way to buy. Tghe more people in the chain the slower it will be. theer are more chances of someone changing their mind and pullling out. More opportunies for a buyer in the chainto be refused a mortgage, a solicitor to be totallyb useless and many other factors that cause chains to break or crawl on a a snail's pace.

And if any of these people along the chain are pulling out for one reason or other, the entire chain collapses.

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Nearly always a deceased's house & family are selling it.

Try & avoid chains wherever possible

A good idea but it doesn't always work. When we bought this place the woman selling said there was no chain. In fact she had two other empty houses, a manager's flat in the old folks' home she ran, an empty bungalow AND a motor home, all available for instant occupation.

But she still refused to move out before buying yet another place....

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  • 3 weeks later...

And the other D - divorce. Although some divorces leave one partner or another staying permanently in the marital home, many involve one partner moving out immediately, and the other finds the house too big and expensive and moves in with the parents/friends until the house is sold and they can buy a smaller place. (We considered buying a house where this was the situation)

Quite a few people we came across either had a second property (holiday home, inherited family mansion) or a rental lined up and could sell the house as "No Chain".

db

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Have you ever bought a house in a chain?

I thought not.

Well, no. But I have sold a house in a chain - does that count?

We were trying to buy a house we liked a lot. We found a couple in rented accommodation who wanted to buy our house. The couple we were buying from were prepared to move into rented, though they had found a house they liked. This is how chains are built.

The people whose house we were buying admitted that there was a small legal problem, which they had discovered a few months earlier, when a previous would-be purchaser's solicitor had found that they had no legal right to access their only parking area. But not to worry, the legal eagles were on it, and it would be sorted out in a few weeks.

Four months passed.

Our solicitor said that the glitch had to be sorted out before we bought (in case it never was - which was a real possibility). The people whose house we were trying to buy were desperately chivvying things and their end, but had, in any case, lost the house they wanted. Our buyers got fed up with waiting for us to set a date, and pulled out - especially as another house (in better nick than ours too) on the same street had come on the market, so they bought that. So we had to pull out of the purchasing of the place we really liked, and had, eventually, to go into rented accommodation. This is how chains are broken.

We are now trying to buy the place we are living in - which has to be sold anyway - but there's a small legal glitch, which should be sorted out in a matter of weeks, but our solicitor says that he advises us not to buy until it is sorted out. We have personal reasons for wanting to move soon, so if the Glitch starts to become a Problem we may be looking for somewhere else. We shall - like a number of others - be looking for somewhere where the present owners are prepared to get out on a given date regardless, either into another existing home or somewhere rented. The phrase, "no chain" gets any house a second look.

db

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  • 2 weeks later...

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  • 415 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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