Chain free - How much do you think this effects asking price v actual sold price?

davilown

As per the title, does being chain free positively effective (from the buyers point of view) the sold price versus the asking price when compared to a chain purchase?
if so any ideas on what % less to offer?

Many thanks

G_M

Marginal difference.

A seller might choose to sell to a chain-free buyer, rather than a buyer in a chain, if both make the same offer.

davilown

Thanks G_M - trying to decide whether to sell now or in a year when we have to sell so weighing the positives and negatives

Clutterfree

I always thought a chain free buyer was the best sort of buyer to have but then my EA told me that a chain free buyer is more likely to pull out of a sale because they haven't got to worry about upsetting their own buyer because there isn't one!

eddddy

davilown wrote: »

if so any ideas on what % less to offer?

It depends entirely on the circumstances of the seller.

If the seller is in a big hurry to sell for some reason, they might be prepared to take a lower offer from somebody who can move quickly.

(There could be many reasons why somebody is in a hurry to sell.)

But if a seller is in no particular hurry to sell (maybe they haven't found a place to buy yet), they might be far more interested in getting a high price, rather than a fast sale.

T21JMF

We haven't found any advantage to being chain free and cash buyers I'm afraid! We thought selling our house and temporarily living with in laws would help with buying our next adventure but we tried to buy two properties before the one we'll be getting the keys too tomorrow and neither seller were swayed by the fact we had the cash to go and no chain.

csgohan4

bare in mind chainfree may become chained, so a vender saying they will move into rental and then later transpires 3 months down the line, Vendor is not moving out and hasn't found a place to buy yet

MK__2

I guess it can do - it all depends on the market where you are, and the individual circumstances of the vendor of the house in question.

I've lost out on a property recently - the vendors were a couple who were divorcing and they wanted a quick sale and didn't want to have to do any negotiating. So they told their EA what price they wanted as a minimum, and then left it up to him to recommend bidders based on which seemed the most proceedable. Our house is being bought by FTBers, so we thought were were in a decent position with such a short chain, however, when someone came in who was chain-free (in rented) and matched our bid, they went with that instead. Didn't even want to give us the opportunity to increase our offer. Frustrating.

Linton

If you put in a reasonable offer a vendor wanting a quick sale may not haggle too much, but being chain free probably wont cover the difference between reasonable and silly. IMHO.

catshark88

csgohan4 wrote: »

bare in mind chainfree may become chained, so a vender saying they will move into rental and then later transpires 3 months down the line, Vendor is not moving out and hasn't found a place to buy yet

This is very true!

Benefit of being chain free really depends on local market and the particular attitude of the people involved!