FTB buying in to a chain

Jabbis

@chocolatefund - Glad to know I'm not the only one!

There didn't seem to be much guidance only for FTB's buying in to chain, most is aimed at people already in a chain. Think I will definitely get the solicitor appointed then, and instruct them to sit on it, but will have a look around in the mean time just in case!

Jabbis

So the agents have actually listed the property as Sold STC, rather than under offer.

I guess that's better news for us as it means viewings/offers are much less likely now?

marksoton

It's just the EA's chosen terminology. They equate to the same thing.

Guest101

Jabbis wrote: »

So the agents have actually listed the property as Sold STC, rather than under offer.

I guess that's better news for us as it means viewings/offers are much less likely now?

Depends, if I see a house I like, regardless of if its SSTC or Under Offer or whatever, I'd ask for a viewing.


The seller might refuse and be honourable, or they may accept and be greedy

pinkteapot

You could ask if the seller would consider renting, so they can complete on their sale and be chain-free. They'll more than likely say no, but sometimes someone's prepared to do it. Doesn't hurt to ask.

We sold our old house to a FTB and they had to wait three months for us to find (and then it took a few months for the chain to all go through and complete), but we told them it might take a while as we wanted something specific, and kept them updated regularly. They got our house for a good price so they waited for us. We wouldn't have been prepared to move out and rent as, at the price they were paying, we'd easily get a new buyer to offer the same amount. If we'd managed to get a really high offer out of them then we would have been willing to get sold and rent. Basically it comes down to how replaceable you are if they lose you.