Conveyancing before chain is complete

SuperDuck

Hi,
I have had an offer accepted on a property, but the sellers have not yet found a property to buy, so there is an incomplete chain (we are chain free buyers).

My expectation is that we would not get our solicitor do any conveyancing work until the chain is complete.

Is that way it usually works?

Any advice would be much appreciated.

kingstreet

Yep. Find a solicitor. Instruct them and have them open a file.

Then ask them to await the chain forming and a draft contract from the vendor's solicitor.

Richard_Webster

Yes that's sensible. However if you were also selling you might find that the FTBs at the bottom don't understand about chains forming above and wonder why everything takes so long!

hazyjo

Would they consider going into rented? Might be something you want to put to them in say a month's time if the situation hasn't changed. You probably don't want to waste three months or so waiting for this house only for them to realise they can't get what they want so withdraw their property from the market.

Should also make it clear that your offer reflects today's market. If you really are willing to hang on indefinitely, keep an eye on the market/prices and consider adjusting your offer in say 6 months' time if your'e in the same boat! Of course, if the market shoots through the roof during that time (okay, not likely), they're just as likely to ignore you and put it back on at a higher price.

I'd definitely keep my eye on the market for other properties in the meantime.

As you and others say, hold fire on spending money until the chain is complete.

Jx