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The benefits of buying a chain-free property

Sep 24, 2024
The benefits of buying a chain-free property
When buying or selling a home, you need to be aware of all the factors that may affect, delay or even scupper the sale. One of them is the "house buying chain" or "property chain". This guide explains what that term means and explores the advantages of buying a chain-free property.

Key Takeaways

Faster transactions

• Being chain-free can significantly speed up the process of buying or selling a property
 
Reduced risk
• Chain-free sales offer advantages to both buyers and sellers
 
Simplicity
• Purchasing without a chain is more straightforward and less stressful
 
Appealing to sellers
• Sellers prefer chain-free buyers because there is less risk of the sale falling through 
 

What is a property chain?  

When you're in a chain, your property transaction is linked to those of other buyers and sellers. Each transaction in the chain is reliant on the successful sale of another property by a different vendor – all at the same time.

 

What's the average length of a property chain?

While there are no official figures, some chains are reported to involve as many as ten properties. However, the average chain contains around three properties.
 

Why can a property chain be a problem?

Being in a property chain can be risky because if one person pulls out or has difficulties with their sale, the whole chain can collapse. As a result, they may miss out on a property they've set their heart on or fail to sell their current property for the price they wanted.

 

How can I avoid property chains?

When buying your new home, look for the phrases "no onward chain" and "chain-free". They mean that the purchase or sale of that property won't depend on the successful purchase or sale of other properties.
 
As a chain-free buyer, your purchase isn't reliant on the sale of a property you currently own. If you're a first-time buyer, you're a chain-free buyer by default.
 

What are the benefits of buying chain-free?

A property chain can make the homebuying process more stressful. Here’s why you should try to buy a chain-free home:  
 
• You'll have peace of mind – No chain means you won't experience the anxiety of being reliant on another party for the successful completion of your sale.
 
• You'll be more appealing to sellers – Vendors will view your offer more favourably because they'll get to sidestep the hassle of the property chain, too.
 
• It may make for a better, smoother deal – You'll avoid the potential property chain problems, while your attractiveness to sellers may help you secure a property at a price that suits your budget.

 

Be chain-free with David Wilson Homes

Looking to break free of the property chain? David Wilson Homes can help. With our Part Exchange scheme, we'll buy your current home to help you move into a new one quickly and hassle-free. 
 
Besides having a guaranteed buyer and no estate agent fees to pay, you'll also have peace of mind knowing you're not part of a chain. Plus, selected homes are already finished, so you could be moving in a matter of weeks.
 
Explore our brand-new properties across the UK and discover various homebuying offers to help you move.   
 
Call or visit our Sales Advisers at your nearest location to get started.
 

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