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What does "checking the chain" mean?

2 replies

Squidgysquiffle · 19/08/2024 17:54

A house we viewed on Saturday and were mulling over offering on has received an offer from another buyer this morning. The selling agent said it hasnt been accepted yet as they are "checking the chain"
Is that normal? Wouldnt that have been done by now? I'm wondering if in reality it means it was a bit lower than they'd hoped and they're waiting to see if they get anything better. What do you think?
We're thinking it over tonight but realistically if we were to call with an offer tomorrow I don't know what level to go in at. I don't think we want to pay full asking price but based on what the EA said does it sound like we'd have to, to get it?
We're under offer with a chain free buyer which is good but apparently that's the same as the one that's already come in.
Thanks

OP posts:
Squidgysquiffle · 19/08/2024 18:01

Actually I realise my question was a bit stupid. It's pretty self explanatory what checking the chain actually MEANS I guess what I want to know is how long it usually TAKES and what that means for us.
thank you

OP posts:
DoodleMumma · 19/08/2024 19:05

We have had offer accepted on our property recently and sometimes the agents do use that as a way to keep you holding for a few days while they see if other offers come in. But "checking the chain" normally only takes 24-48 hours.

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