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How can I speed up the chain?

When you are part of a long chain, the speed of your sale — and the purchase of your next home – will, to a degree, depend on everyone else who is involved, from the first time buyer at the bottom, to the downsizer at the top. The chain will only move at the speed of the slowest link. Ringing your agent for daily updates quickly gets tedious, but there are some steps you can take to help things along.

 

How can I speed up the chain?
How can I speed up the chain?

Get your own house in order

Start by pre-empting as many of your buyer’s questions as you can. Make sure you have a copy of the deeds of your house, and any supplementary permissions, like authorisation for extensions, or buildings regulations approval. The government’s guide to selling a home includes a useful list of paperwork that is worth digging out.

If your built-in appliances, including your boiler and any fitted white goods you are leaving behind, are still covered by a manufacturer’s guarantee, assemble these in a single folder and, if there are any protected trees on your property, make sure you know which ones they are and what you — or your prospective purchaser — are permitted to do. Be up-front about potential problems, which can save the purchaser’s surveyor time.

If you are going to need a mortgage, make sure you know exactly how much you can borrow before you start searching and, if possible, get an agreement in principle on the understanding that this may be withdrawn or varied subject to a property survey.

Set some parameters

The extent to which you can push things along may be limited by your own situation. If you have been searching for months but only found one house that meets your requirements, your options for imposing conditions will be fairly narrow. If not, defining your expectations at the outset can help to focus the minds of the parties immediately above and below you on the chain. They, in turn, can push for progress on your behalf if it looks like they risk losing you. Naturally, whether you choose to follow through on any threat is a decision you can make at the time. Bear in mind, though, that some tasks, like local authority searches, can’t be hurried along, and the time they take will be determined entirely by the workload and working practices of the authorities concerned.

Uncouple from the chain

If you have had a bad experience of being in a chain in the past, and it is putting you off the idea of moving at all, talk to a few estate agents anyhow to see what chain-free properties they have on their books. Explain your situation and specify that you only want to deal with first time buyers, or buyers whose homes are already on the market. You could also specify that you are only willing to book viewings from potential purchasers who have already accepted an offer on their own property.

Looking up the chain, only agree to view properties being sold by vendors who aren’t buying a home themselves. Whether that is someone selling a second home, holiday let or a house or flat they inherited, there should still be plenty to choose from. Be wary of buying a home that is still subject to probate, though, which can involve an increased amount of administration.

If you have already sold your own home and moved into a short-term let, so much the better. If not, and you’re happy to buy a new-build property, look for a builder who will take your existing home in part exchange.

There are plenty of options for you but no matter which route you go, preparation and organisation are key to help what can be a trying time run more smoothly.