No onward chain purchase - now in a chain

MrsP1000

Hi

Back in May we had an offer accepted on a house that was advertised as no onward chain. We met their full asking price.

In June we found out that the vendors were purchasing a new build property. At this stage we simply accepted the change in status.

Today we received an e-mail from the solicitors stating that someone further up the chain has not got their purchase very far along.

What can we do? We don't want to pull out as we love the house but each delay is costing us money. Can we ask for compensation, or drop the offer?

Any advice would be greatly received as we are first time buyers.

Thanks

hazyjo

What do they mean by 'further up the chain'? If they're buying a new build, I don't get it...

You can do what you like, doesn't mean they'll accept it. If you make any threats at all, you have to be prepared to carry them through or it's pointless. Can drop your offer, or can give them a time limit, up to you. Why is each day costing you money? Are you renting elsewhere, you mean?

You're only 2 months in (roughly). Usually it takes around 3, so I'd not be too worried about timescales at the moment. Took us 5 LONG months to buy ours last year due to one prob or another...

Jx

melysion

I know the feeling. I put an offer on a flat that was supposed to be chain free but isnt now. I've been waiting 7 weeks now for the paperwork to be given to my solicitors ..

MrsP1000

In June we were told they were buying a new build then today we find out there is actually a chain so the new build story was a lie!

StuC75

Either sit & wait it out (hoping your mortgage offer lasts that long - so no risk of problems if extending etc)..

Or ask that the sellers look to complete thus breaking the chain; so that they become the bottom of the chain for there onward purchase..

Or start looking elsewhere if you havent paid too much out in searches... Afterall if they had to start looking for a buyer again who was willing to pay asking price....