Buying on a chain

sixpence.

Hello all - I would really like to get some advice on this:

First time buying on a chain, my question is:

When should I start looking for my new home with the intention of making an offer? Once the property I'm currently living in is listed on the market? Or should I wait until I have an offer?

Thank you!

nicmyles

Most people won't accept an offer from you unless you have an offer accepted on your property, so there's often not much point seriously looking until then.

EssexHebridean

Certainly get it listed, and, at this time of year, I'd be inclined to wait until there is at least some interest on it too. however, there's no reason not to view properties you like the look or, albeit you do have to accept that because of the understandable expectation that chains tend to build upwards, it might well be that you see the perfect property that then gets away from you because yours takes a little longer to sell. 

prettyandfluffy

It depends if you know what and where you want to buy.  Viewing is a good way to help clarify criteria such as location, layout etc. 

pinkshoes

sixpence. said:

Hello all - I would really like to get some advice on this:

First time buying on a chain, my question is:

When should I start looking for my new home with the intention of making an offer? Once the property I'm currently living in is listed on the market? Or should I wait until I have an offer?

Thank you!

I'd list it immediately.

There is no harm looking once your property is listed, but you're not in a strong position to put an offer in until you have accepted an offer on your own.

We had the same. Listed our property, put an offer in on a property we really liked, but the vendor obviously kept it on the market as we were not able to proceed. We then accepted an offer a  couple of weeks later, but unfortunately the house we wanted had an offer accepted and taken off the market the day before! That's life! We ended up completing and moving in with the inlaws to break the chain, which put us in a much stronger position when offering!

sixpence.

Sorry to resurrect such an old thread. My only excuse is that I got totally swept up with Christmas and the end of the year!

Thank you for the replies - so helpful to hear about your experiences.

@pinkshoes How did you live with the in-laws for? Breaking the chain sounds like a great idea but I'm not sure if I know anyone I can reasonably impose upon. Food for thought!

pinkshoes

sixpence. said:

Sorry to resurrect such an old thread. My only excuse is that I got totally swept up with Christmas and the end of the year!

Thank you for the replies - so helpful to hear about your experiences.

@pinkshoes How did you live with the in-laws for? Breaking the chain sounds like a great idea but I'm not sure if I know anyone I can reasonably impose upon. Food for thought!

Actually it was OK, but they had a big house so we had two bedrooms (one for me and DH, one for our son) then a downstairs room for our stuff and some privacy! 

I was pleased to move out after 4 months though! 

It just made buying a house much easier as there was no rental agreement and no property to sell, so we could move when we wanted and just had to get our stuff back out of storage.

FlyMeSomewhere79

We kept a list of contender properties on Rightmove abs constantly monitored what was available on the market until we finally got an offer on our property on Oct 31st, we were then able to secure the property we wanted to buy on the 2nd Nov especially as our buyers pur first time buyers which creates a stronger position because it of course shortens the chain.

Some estate agents won't even let you view a house unless you have an offer on your own but not all are like that. 

My seller has failed after two months to find anything he likes so he has agreed to break the chain and move into rented once we get a date for completion.