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What does no chain mean?
focus888
Posts: 1,483 Forumite
Ive seen this on a couple of house sales and i have no idea what that means. can anyone help me with the explanation? thanks
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Comments
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they have died/going into rented/emigrating/repo or some other reason why they are not currently buying another house too0
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Hi, it means that the seller is not intending to buy another house whilst selling his own. It could be there he has a) already bought another house and is just wanting to sell the old one; b) moving into rented accom; c) this is a repossessed property.
No chain means you can complete the sale asap because you don't have to wait for the seller to buy another house and then his seller to buy another one , so on and so forth. I am guessing you are a FTB, and being in a 'no chain' position, you have greater bargaining power because all chains need a FTB or a person with no chain to break it.
Good luck with your house hunting!0
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