CHAIN BREAKING
How a quick home sale can repair
those broken links
Property chains, we’ve all come across them and we all realise
the benefits of being chain free. However in today’s turbulent
property market they are a stressful and difficult part of any house
purchase or sale.
Most property chains contain 3 or 4 links, each one being an independent
transaction but with the whole chain being dependant on all 3 or
4 transactions being completed. In practice however it is now accepted
by the industry that 1 in 3 chains will collapse.
In real terms this now means that even if things go smoothly it
is common for the whole process to take up to 12 months. If however
things do start to break down you would normally have three options.
- Accept the delay and run the risk of loosing any money already
spent even though you may not be responsible for the delay.
- Say goodbye to the dream home that you’ve had your heart
set on for months and start all over again, which will all cost
time money and heartache.
- Try to hang on to your dream home by risking further money
by taking out a bridging loan in the hope that the chain repairs
itself.
In reality no matter what course of action you take once a chain
starts to break down they very rarely repair themselves. This is
where HBFS can help. With our fast home buyer solution we can give
you the freedom to join a chain happy in the knowledge that you
have a guaranteed sale and that if things go wrong you will be part
of the solution not the problem.
Once we have agreed a purchase you will then be able to take advantage
of our two flexible purchase options. We can exchange contracts
and delay completion until a date that suits the needs of you and
others in the chain or we can complete the sale and rent your property
back to you with our sell and rent back scheme.
Which ever option you choose at HBFS we pride ourselves at being
as flexible as possible in order to meet our client’s needs.
This means that if you were previously unable to join a chain due
to time restraints imposed on them by the other links you now in
a position not only to be a part of that chain but also help manage
it. This will give you much greater control over the situation.
This is however only the first part of our solution. It may be
that the break in the chain is down to someone else. Here at HBFS
we offer a service which will allow us to purchase any broken or
missing link which may cause the chain to collapse.
There is however obviously a cost involved in this service as we
would be looking to buy at a discounted price not current market
value. These costs could be spread across the whole of the chain
thus making an affordable solution especially when compared to the
overall costs incurred when a chain collapses (solicitors, surveys,
mortgage payments, etc)
In short here at HBFS we understand the stress and heartbreak involved
when a chain collapses. This is why we offer you a tailor made service
to suit any requirements you or your chain demand.
With a fast home buyer solution we give you flexible options which
allow you to remain in control of your situation and allow you to
move into the house you’ve been waiting for.
Call Now On
0800 043 4133
