What is a property chain?

Property chains are fairly unique to England.  While some other countries have loosely connected property transactions, few are as tightly coupled as those in England.  This combined with no contract in place until just a few weeks or hours from completion leads to over 30% of chains failing ⛔️. 

So what are they and why do we use them?🤔

A property chain is a set of dependent property transactions (sales).  For example...

👱‍♀️ A first-time buyer is buying a flat 🏢 from a young and growing family.  

👨‍👩‍👧‍👦 The young and growing family is buying a house in the country 🏡 from an older couple. 

👴👩‍🦳 The older couple is looking to downsize into a new-build🏠 near the centre of town. 

The young family needs the money 💷 from the sale of their flat for the down payment of their new home and the older couple need the money from their home to buy the new-build.  In order to ensure the money required is available and no one is left homeless, they all complete their transactions and move on the same day. ⚠️ This means a lot of moving parts and clear communication is vital to making it all happen. 

✅️ See how Clear Chain can increase your odds of success and reduce your stress while buying or selling your home.