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Timeline - Vendor finding property (Inchain)

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ric1982
ric1982 Posts: 222 Forumite
in House buying, renting & selling
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

Comments

  • Alarae
    Alarae Posts: 355 Forumite
    First Anniversary First Post Debt-free and Proud!
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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:
  • ric1982
    ric1982 Posts: 222 Forumite
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    Thanks and congratulations.
  • SG27
    SG27 Posts: 2,773 Forumite
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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!
  • hazyjo
    hazyjo Posts: 15,470 Forumite
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    SG27 wrote: »
    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!
    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.
    2023 wins: *must start comping again!*
  • s_glover
    s_glover Posts: 653 Forumite
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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!
  • dunroving
    dunroving Posts: 1,881 Forumite
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    SG27 wrote: »
    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) dunroving
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    edited 10 April 2018 at 3:51PM
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    SG27 wrote: »
    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 :D
  • ric1982
    ric1982 Posts: 222 Forumite
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    s_glover wrote: »
    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.
  • s_glover
    s_glover Posts: 653 Forumite
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    ric1982 have you made any further progress since first posting this?
This discussion has been closed.
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