Broken Chain
“We lost our dream home because the sale of our house fell through after five months!”
A broken chain is when the other party don’t want to sell their house anymore due to many different reasons, or when you can’t get your house sold within the agreed period.
This is a very common scenario faced by many buyers and sellers who are stuck in a chain. If you are in a chain and if any part of the chain is broken, your sale will fall through. There are many situations that may depend on the sale of a property:
- Relocation
- Found a new home
- Moving abroad
More urgent ones include:
- Redundancy / unemployment
- Facing repossession
- Facing bankruptcy / severe cash flow problems
If the situation requires a quick sale of your property, you really cannot afford to sell through an estate agent. It’s just too much uncertainty, how long it takes before you can obtain an offer. You may receive an offer already, but you have to remember that the offer is not guaranteed sale. Anyone can make an offer on the property – and quite often, the potential buyer has not even completed the request form for a mortgage yet, let alone that he can move quickly. Applying for a mortgage will take time and there is no guarantee that the application will be accepted.
Adding to it a less-than-efficient conveyancing from most of the solicitors, it could be several months before the property eventually gets sold.
So what happens at a critical time just before exchange of contracts if a part is the chain gets into trouble? The chain breaks and falls through your sale.
The best way to sell your property quickly is to sell it for money. With Lloyd Reeves, we have buyers who can pay cash for your property. There are no worries and no hassles. You will receive an offer within 48 hours, just after one single viewing. This offer guarantees completion within 28 days or any day that suits you.
Request a cash offer online now for a no-obligation preliminary offer from a buyer in your area. Alternatively, you can call us free on 01252 730040 (24 hours)
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