The number one piece of advice we can give here it’s to try not to panic. Understandably, this is a lot easier said than done, but keeping your head straight can help you to achieve your goals despite a chain break. Spending time panicking is just wasting time.
- Contact Estate Agents
- Inform everyone who needs to know. If you’re selling your home and your buyer has pulled out, you should tell the rest of the chain and the people handling your sale.
- Contact the Buyer if they have pulled out. There’s a chance that the buyer may have pulled out over a minor issue that could be rectified in order to keep them happy. Reducing asking price may also help you pull the buyer back.
- Get an offer from North East House Buyers. Losing your buyer means the whole chain is at risk of falling through. You can hold things up if you can sell your house, fast. We buy homes directly from homeowners right here in the North East. After reaching out to us we can make an offer within a few days and complete as quick as you need to, saving the chain.
If you have time on your side, you could actively search for properties to buy that don’t form a link in a chain, avoiding this whole fiasco in the first place.
This may require a little bit of work, but talking to estate agents can help with this.
Properties that are being sold where the owner has passed away recently, or where the homeowners aren’t buying another property to live in, you can end the chain dead in its tracks. It’s worth giving this a little bit of thought, because communicating effectively with the other parties involved can put you in a much stronger position.
It’s not always possible, but working with the vendor to agree a date for them to move out can help you move into the property even if the chain falls apart.
Keep the process moving
There are many aspects of the home buying/selling process that you can have an impact on, in order to reduce the chances that the chain could break. Implementing the below as part of your approach and you’ll find that everything is a lot more secure.
Become a stickler for details:
- Make a shortlist of estate agents and solicitors
- Buy a box or storage to save and organise correspondence
- Make notes of outcomes of ALL phone conversations
- Sign and return any paperwork ASAP
However you go about things, keeping a record of what happened can prove immensely useful if the chain starts to weaken. Having the ability to answer questions from both vendor and agent quickly and professionally will help things to keep moving along.
Keep in mind, all paperwork is time-sensitive, due to the nature of the process. Don’t delay anything until the next day. Ensuring that you return all documents, signed, by the deadline (before the deadline ideally,) in person if it’s vitally important will give you the best chance of stopping issues with paperwork affecting the chain.
One thing that is massively overlooked, is the estate agents you work with. They are not one and the same, choosing a good team to work with can go a long way. Shortlisting agents and solicitors can set yourself up for a more positive home selling/buying experience.
Preparation can go a long way, keeping all the paperwork, knowing the buyers and communicating effectively with whoever’s helping you sell or buy. Keeping the momentum going reduces the risk of the chain breaking. And remember, if it’s going to break, the likelihood is that it will be something completely out of your control.
If your chain has broke, things may not be lost, see if we can help you repair the chain by selling your house fast directly to us. Filling out the form below will place your enquiry, we will come back to you quickly, to get a bit more information and start formulating an offer for your home.