Putting your house on the market is a complicated business particularly if you need to sell the property to move to another place for financial or work reasons. The worst case scenario is that you will be involved in a chain that may collapse. Most house buying chains involves at least three sellers, and a broken chain occurs when one of the sellers cancels there sale. You might need to tie up with another chain and hope that it won’t collapse, starting the whole process again. This generally takes between 3-6 months.
Already stuck in a chain
There are numbers of ways that you can do to avoid the risk.
- Don’t start a chain. Assess if your potential buyer is really capable of buying your house and stay away them if they are in a chain. Also check the status of the people you are buying the property from.
- Keep your finances in place. Don’t let yourself be the weakest link. Prepare your mortgage offer before you give offers for propertys
- If possible, arrange for a bridging loan. This loan can cover minor financial losses and is typically subjected to a 2% monthly interest. This is purely a short term solution.
- Ask for the paperwork. This will ensure you do not just have to taken a sellers word for it.
- Prepare to lower your sale price. If it’s been three months+ and you have been unable to sell your house that is a sign for you to check if you are marketing above the market price. You might need to lower your price and match it to true market value
The bigger problem
It is normally too late for you to save a chain when broken and you are left to wait on your own and hope that the seller decides to reconsider the sale. However, if the problem is constant and you really need to move out as soon as possible, you might have a big problem which can delay numerous things. Cancelling the vans you scheduled for the move or reporting late for work is not a healthy decision to make. Most vans will not allow a money-back option for cancelled moves and your employer can always replace you to someone who can start on the expected date. You end up losing the house sale, losing money for the van, and losing your job.
In all cases, selling your house to A Quick Property Move can save you money and keep you away from chains. We can buy your property in less than seven days so as soon as you find out that the chain is collapsing, we can still buy your property and help you move out. Let A Quick Property Move rescue you from the chain.
How we can help?
Call us free today at 0800 111 4634 or click on Call Back Request and leave a message with your name and contact details. You may also use the Apply Online Now. Fill out the form. Receive a call within one hour and meet up. Let’s start A Quick Property Move now!