Should I walk away from this chain?

[NoFitStateMum]

We've been house hunting for over a year. Lost our first buyers after 6 months as despite viewing loads and making lots of offers over asking price we hadn't found somewhere to buy. Sold again soon after to a new buyer and then finally had an offer accepted on a place 4 months ago (had to offer 10% over asking to get it) but the vendors of that have only just found an onward purchase (they have difficult and specific requirements) and the upward chain is complicated and not yet complete. Current top of chain are relocating and unsure whether they'll buy on or break the chain.

So, as it stands the chain is currently this:

FTBs in rented > our buyer > US > house we're buying > Property 5 > Property 6 > unknown...

After looking for so long I am struggling to contemplate a long and potentially difficult chain like this.

We have our mortgage offer in place and have had the valuation survey done with no issues but have done nothing more as yet.

Am v aware that our buyer may well walk away when they're updated on the onward chain anyway....

Any advice please?

Bump! Anyone? :)

I feel for you, house buying is horribly stressful. Probably not what you want to hear but I think only you can decide whether the stress of a complicated chain is worth it for you. With a chain that size things will likely be messy and drawn out although not impossible. It’s whether you are prepared to deal with that rollercoaster for that house.

Personally I was in a chain a little less complicated but not great. It collapsed once and then on the second time (about 8 months in) I just couldn’t deal with it again. We broke the chain by moving into rented and then ended up specifically only looking at chain free houses for our own sanity. We love the house we ended up buying.

I wish you good luck with your decision, and please please don’t just rely on a valuation survey if you were going to. They don’t always use qualified surveyors for them and ours missed a fundamental structural issue our proper surveyor picked up immediately.

Thanks for replying. Sorry to hear you had issues moving too. The market is especially tough atm and in addition to my personal reservations about moving into rented there simply is so little available and what there is is so expensive - the same as with the sales market. There is very little on the market full stop and chain free properties are few and far between.

I just can't see a way forward.

Good point about the valuation survey vs structural survey. We'll definitely get the latter done if we proceed.

Eurgh sounds stressful! This might be a stupid suggestion but can you stick with that property, but also keep an eye on the market? So if something else comes up you can view it, see if it has a less complex chain etc… that way if your chain does collapse you haven’t lost too much time. I wouldn’t pull out of your current chain if, as you say, not much else is coming up.

Appreciate you may lose money as you’ve instructed solicitors, done surveys etc but if i were you I think I’d stick it out and see how things go with your chain, but keep my eye out for other properties as you’re not legally committed yet!

I was in a chain of 6 (well still am but we just exchanged). We were number 4 and I was so worried like you and relieved when number 6 was an empty house and where the chain ended. It has been very very stressful and has taken 7 months. Top of chain and 2nd in chain have been particularly tricky. I would try and avoid such a long chain next time but it’s much easier to say than to do. Maybe give yourself a time limit. If chain isn’t complete by say September, break it yourself by going into rented?