Can someone explain how a chain works to me?

[HairyPorter]

Sorry for asking such a dumb question! We are chain free. If we want to purchase a house with a chain, and put in an offer, will there be a delay in getting to exchange? Or are we able to get to exchange first and then give the vendor time to sort out their chain before completion? Or is that a stupid thing to do? We don't mind hanging on in our rental place but are worried about hanging on for months and then things falling apart!

It depends how long the chain is ie how many houses are involved and when you exchange the contract states the date you complete so you can't exchange without the completion date.

We have been really lucky, bought 3 houses and sold 2, each time only 2 houses in the chain!!! People buying new builds or relocating so renting first.

It all boils down to communication and timescales. Some people want to move fast others don't. We bought this house in November (years go) we sold to cash buyers, we knew nothing would get done before Christmas and due to complications with the buyers solicitor being incredibly slow we finally moved in the February. But we have moved in a 7 week time frame before now.

chains are supposed to work by everyone exchanging close together, and then completing on the same day. The exchange has to go up the chain, so each vendor has a buyer who is committed before they in turn commit to their own sale.

so yes, a chain can delay exchange - been there! You need to keep pestering. You can only talk to your solicitor and the estate agent, the agent is on commission so has an incentive to get the sale through.

don't give notice on your rental until you have exchange!

Thanks! We had put in an offer which had been accepted but the vendor keeps stalling and doesn't want toget started with instructing solicitors and so we haven't even started with arranging mortgage etc. she keeps saying that she needs time to sort out her move, but I was under the impression everything happened simultaneously? Am I wrong?

Has your vendor found anywhere to move to?

When we viewed the house we were told she's moving into a friends place and was essentially chain free! The story then changed a week later to 'she's buying a house up north' and this week ses apparently buying a 'flat a few miles away, but needs her builder to quote in the work it requires first'. It's all a bit strange! Just wante some perspective as to wether or not this was normal behavior? Our offer was accepted 2 weeks ago but nothing has happened since wrt solicitors or mortgage. Is that normal?

Don't stop looking for a place, you many well get stung.

If you think you could find another house you like you could perhaps state that your offer is only valid for four weeks, after that time you will withdraw it and find somewhere else.

I'm buying/selling at the moment. My buyer and seller are both chain free so 10 days into the process solicitors and surveys are well under way.

uh-oh, one of those. The vendor is going to piss you about until she finds somewhere to buy, and only then will she start things moving. She regards you as the little people who can be made to wait at her convenience. (been there, twice!)

things should be happening. They aren't because she is stalling.

so set a deadline for her to have an offer accepted on another place, or if she can't find anywhere for her to agree to move into a rental.

I wouldn't set your heart on this place unless you are really happy to wait for a long time. I wouldn't even spend any money on surveys etc unless you can be more convinced that she actually wants to move.

Thank you specialsubject. We haven't spent any money and in a way it's reassuring that she hasn't asked us to get on with mortgage and survey etc. we are continuing to look for a place in the event this falls through.
The agent said something along the lines of 'her mortgage term is ending so she doesn't have a choice and has to move'. I didn't really understand what she meant by that, but the agent is insistent the vendor really needs to sell her house. So I don't really understand why she's stalling!