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Timeline - Vendor finding property (Inchain)
ric1982
Posts: 235 Forumite
For the buyers who are in chain, thought I would start this thread to see how long is it taking for the vendor to find his/her dream house.
Its painful and slow wait and you cant (shouldnt) start any process at your end (mortgage etc.) unless the chain complete.
Offer accepted: 09/04/2018
Vendor Started Looking: 09/04/2018
Vendor Found the property (offer accepted): TODO
Its painful and slow wait and you cant (shouldnt) start any process at your end (mortgage etc.) unless the chain complete.
Offer accepted: 09/04/2018
Vendor Started Looking: 09/04/2018
Vendor Found the property (offer accepted): TODO
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Comments
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On the other side of the fence (vendor), I can tell you we accepted an offer on 17 Jan, and finally agreed our onward purchase on 16 Feb. Took us almost a month, but should be exchanging in the next couple of weeks :beer:0
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Thanks and congratulations.0
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Im just startimg selling for the first time. House on the market for a week so far!
I dont understand how chains actually work. So you have to wait for your sellers to find then they have to wait for the sellers and then they could have to wait again for there sellers and so on! It could.go on for ever!0 -
Yes, that's it. Although it's usually much shorter than how you imagine. I've usually only had 2-4 people (ish) in a chain, although my last one in Nov had 6 or 7! :eek: That's a fairly long one.I dont understand how chains actually work. So you have to wait for your sellers to find then they have to wait for the sellers and then they could have to wait again for there sellers and so on! It could.go on for ever!2024 wins: *must start comping again!*0 -
Thanks for this thread ric1982.
We're just about the put our house on the market. First time selling and buying.
Last time we were FTB with no onward chain as our vendors were moving into rented.
We're planning on being in the next house for quite some time and have quite a long wish list. There's not too much coming up which meets our criteria at the moment. I know there will have to be some compromise but it could be a long search. I just hope it all works out!0 -
Im just startimg selling for the first time. House on the market for a week so far!
I dont understand how chains actually work. So you have to wait for your sellers to find then they have to wait for the sellers and then they could have to wait again for there sellers and so on! It could.go on for ever!
- and just like a real chain, if just one link breaks, the whole thing goes to Hell in a handcart.(Nearly) dunroving0 -
Im just startimg selling for the first time. House on the market for a week so far!
I dont understand how chains actually work. So you have to wait for your sellers to find then they have to wait for the sellers and then they could have to wait again for there sellers and so on! It could.go on for ever!
Some or all of the people upstream of you may already have made offers and had them accepted. It doesn't have to ripple up in the way you suggest. And some buyers/sellers may drop in and out and be replaced by others.
And there's a 1 in 3 chance it will fall apart
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Thanks for this thread ric1982.
We're just about the put our house on the market. First time selling and buying.
Last time we were FTB with no onward chain as our vendors were moving into rented.
We're planning on being in the next house for quite some time and have quite a long wish list. There's not too much coming up which meets our criteria at the moment. I know there will have to be some compromise but it could be a long search. I just hope it all works out!
True its agonising process, the wait and all the uncertainty so I thought its good idea to start this thread. There is no right or wrong answer to how long would/have to you wait. But it does gives you some idea.
Hope people will use this thread to share their timelines/experiences.0 -
ric1982 have you made any further progress since first posting this?0
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