Selling Property due to a Broken Chain

Having a property sale chain break means you’ll need to start over with trying to find a buyer for your house or flat, and some solutions can result in you getting a quick and fair offer.

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Your top questions when selling property due to a broken chain

✅ What exactly is a broken chain when trying to sell a house or flat?

Property chains are those involving three of more homes where the sale of each is dependent on successful sales with all parties. Typically, this means that one person is trying to buy a home, the second person is selling that home and wants to purchase a separate property, and third person is selling that house or flat, and all the transactions must happen for it to succeed.

✅ What are some of the explanations for a broken property sale chain?

The reason behind each broken property chain will be unique to the specific circumstances of the properties and people involved. But some common explanations for why a chain might break include one of the buyers or sellers changing their mind due to financial problems, illness or something else, gazundering or gazumping, a downturn in the property market, and more.

✅ Are there any potential costs associated with a broken home sale chain?

Depending on how far along the property chain was in terms of buying or selling before it broke, there might be one or more costs associated with it that you may already have paid and will be unable to recover. This can include legal fees, mortgage fees, costs associated with property searches and surveys, and other charges, and they can quickly add up to a lot of money.

✅ Is it possible to still sell my property in a chain that has broken?

Yes, there are a couple of ways that you could still successfully sell your house or flat even if part or all of the property chain collapses. In certain cases, you might be able to salvage the property chain, although this will be the exception rather than the rule. In other cases, you can pursue one of the four conventional methods for trying again with finding a buyer.

✅ What are my options for selling a home once the chain breaks?

You could try to sell your property through an estate agent but that might lead to another chain which you may want to avoid. There are three other options available for trying to find a buyer for your flat or house and these are selling at an auction, selling without any help from a third party or selling to a no-fee quick home buying company, for example LDN Properties.

✅ What is the quickest way to sell a property after a chain is broken?

Generally, the fastest way to sell almost any type of house or flat is by contacting LDN Properties or another quick buyer because it should only take a handful of weeks before you exchange contracts and receive the full sale proceeds. But selling via an estate agent, an auctioneer or on your own can all take at least many months, if not longer.

✅ How much will I pay in fees to sell a home that has a broken sale chain?

If you choose to sell your property at an auction or with an estate agent then you will need to pay them commission if they are able to complete the sale of the home, and this fee will be taken out of the final sale proceeds. But if you decide to sell to a zero-commission quick buyer such as LDN Properties or sell without any assistance then you will not pay any fees.

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