Active discussions

Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

Talk
Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Original poster

I have messed up on house buying!

40 replies

BeGreatGoose · 13/03/2025 20:49

PLEASE DONT JUDGE AS I AM ALREADY PUNISHING MYSELF!
but i offered on a property and per brokers advise say i was chain free… my husband inherited a house with his siblings and is waiting for the sale to complete after being bought out my a family member but legally doesnt own the property according to the broker…
but when we shared our proof of funds on a property that is being sold by a housing company that bought it in an exchange scheme, they realised about the property and it’s not yet completed and told us they will have to go back to the sellers as they prefer to see funds in the bank. (I had a solicitors letter proving the funds)
i now realise my naivety and stupidly and worried they think I purposely misled them.
and yes! I am just that stupid 😭😭
it’s been a long year of search and having unsuccessful offers having never bought a house before.
i am awful at negotiating and often get told I overshare so I asked the broker for advice and she offered to do it for me but then told me what to say.
I struggle with anxiety and recently diagnosed ADHD.
i have yet to receive a phone call to see what this means for me…but whatever happens guess I won’t be viewing houses offering ever again. I give up.

OP posts:
Barrenfieldoffucks · 13/03/2025 20:54

Do you need to sell a property in order to be able to buy?

stanleypops66 · 13/03/2025 20:56

If you need the money from the sale of your dh's house then you're not chain free.

Original poster
BeGreatGoose · 13/03/2025 20:57

Yes! Thats why I am stupid for following said advice. And stupid because it never occurred to me!

OP posts:
Mumlaplomb · 13/03/2025 21:04

Op the agents will put it to the seller and it won’t necessarily rule you out. Wait and see what happens.

NamechangeRugby · 13/03/2025 21:28

I'm not sure I entirely understand if you are buying from a housing company or private owners. Have you actually signed for completion or did you bid the house up and are now sitting on a house offer that you don't yet have the funds for? And if so, how long has it been like that?

Original poster
BeGreatGoose · 13/03/2025 21:33

NamechangeRugby · 13/03/2025 21:28

I'm not sure I entirely understand if you are buying from a housing company or private owners. Have you actually signed for completion or did you bid the house up and are now sitting on a house offer that you don't yet have the funds for? And if so, how long has it been like that?

We have a deposit and a decision in principle but some of the deposit is savings and some are from a sale of a share of an inheritance (house) we have the funds

OP posts:
Dillydollydingdong · 13/03/2025 21:37

I can't see that there's any problem here. You've mistakenly told the housing company that you've got funds when actually at this stage you haven't. But you will have as soon as your family member has paid you for your share of the inherited house. So everyone will have to wait.

NamechangeRugby · 13/03/2025 21:44

BeGreatGoose · 13/03/2025 21:33

We have a deposit and a decision in principle but some of the deposit is savings and some are from a sale of a share of an inheritance (house) we have the funds

Show quote history

But who are you buying from?

And when did you put in your offer?

And what have you signed so far?

If you haven't signed to complete yet, you can walk away. But if you can't or don't want to walk away, what is your game plan if the inheritance takes even longer? Are there even any time scales yet?

Original poster
BeGreatGoose · 13/03/2025 22:04

Offered and accepted three days ago.
the inheritance will be released once the sale has completed. it’s in the sale process with solicitors.
i am buying the property that was original sold through an exchange scheme to a housing company.
not wishing to walk away. I think the company will pull out of the sale due to thinking we were chain free

OP posts:
Barrenfieldoffucks · 13/03/2025 22:04

BeGreatGoose · 13/03/2025 20:57

Yes! Thats why I am stupid for following said advice. And stupid because it never occurred to me!

Why would someone advise you to say you were chain free, when you are relying on a sale in order to purchase…aka, in a chain?

LIZS · 13/03/2025 22:18

Technically you are not proceedable because the cash is tied up until the sale goes through. Your broker was economical with the truth.

Barrenfieldoffucks · 14/03/2025 08:18

Do you not understand what chain free means OP?

Gekko21 · 14/03/2025 09:46

It's quite hard to parse your post so let's try and break it down.

  • You are not chain free - you do not have ready funds available for your purchase
  • You are dependent on a sale - if the inheritance property has a sale agreed and is in conveyancing, you are proceedable and in a position to offer on another property
  • You are dependent on a sale - if the inheritance property does not yet have a sale agreed, you are not proceedable and whilst you can offer on another property, your offer is unlikely to be accepted at this stage

From what you've said, that's all there is to it. What is done is done and now it's up to your vendor (regardless of who they are) to decide whether to proceed with you or remarket.

There's a lot of additional information in your post. But from what I can see it is not really relevant and might be preventing you from seeing clearly or gaining clarity from those you are interacting with. You mention being ADHD and this might be where your mind is darting all over the place and you need some help picking out the salient points. Could your partner help with the EA / broker / solicitor comms here? It's important to be succinct and clear in conveyancing matters rather than overload people with information.

Take a deep breath. I don't think this is a massive deal. And if it doesn't work out with this purchase, it might be better to wait until the inheritance sale goes through and the money is in the bank. That way, you will be a much more attractive buyer.

CarrieOnComplaining · 14/03/2025 09:55

OP, have contracts been exchanged on the Inheritance house?

If contracts are exchanged and the completion date set then that should not put your vendor off.

Or… has the family member already bought it? And you are just waiting for the money?

Be clear about the exact legal stage of the sale if the Inheritance house, apologise, say you were confused and took advice from your broker. And hopefully your offer will still stand.

pinkdelight · 14/03/2025 09:57

It's my bete noir, buyers claiming to be chain-free when they don't have the funds and won't have until some kind of sale goes through. It's ridiculously common and baffles me why people think they can blag it. However, on the bright side, it's very early days as only 3 days since your offer was accepted. We don't know how big a factor you being chain-free was in the vendor's decision - whether there were other offers they discounted because yours was more appealing - or whether it was just a bonus that you seemed chain-free and they'd have accepted your offer anyway. The main thing is that you must explain the situation to the vendor/EA/solicitor much more clearly than you have here, not focusing on your guilty feelings and confusion, but instead making it clear that even though the sale on the inherited property needs to complete, it's not part of the chain in the classic sense i.e. the money will come through sooner than the completion on your purchase and so the vendors won't be subject to the usual stresses of a chain. Make all of that situation incredibly clear so they understand and can make an informed decision. Don't get too emotional and confuse matters by not being clear. Then they know you'll be upfront from now on.

kirinm · 14/03/2025 10:52

This has just happened to us and it’s made the sale a completely different prospect. The ‘owners’ don’t actually own it and they can’t offer on anything either. It is annoying and means we will continue to look at other places (if the offer we made is accepted).

kirinm · 14/03/2025 10:55

BeGreatGoose · 13/03/2025 22:04

Offered and accepted three days ago.
the inheritance will be released once the sale has completed. it’s in the sale process with solicitors.
i am buying the property that was original sold through an exchange scheme to a housing company.
not wishing to walk away. I think the company will pull out of the sale due to thinking we were chain free

Sorry I missed this. I’m not sure it’s that big a deal if the sale is underway? You aren’t chain free but you’re proceedable.

FortyElephants · 14/03/2025 10:57

kirinm · 14/03/2025 10:55

Sorry I missed this. I’m not sure it’s that big a deal if the sale is underway? You aren’t chain free but you’re proceedable.

Show quote history

But any sale can fall through at any time. Proceedable isn't the same as chain free. They made an offer under false pretences!

kirinm · 14/03/2025 11:02

FortyElephants · 14/03/2025 10:57

But any sale can fall through at any time. Proceedable isn't the same as chain free. They made an offer under false pretences!

Show quote history

Yes I know that which is why I said she isn’t chain free. It’s still a pain and I would be annoyed but it’s not like they’ve not even got probate yet - which is what has happened with us.

housethatbuiltme · 14/03/2025 11:04

Your post doesn't make sense.

You DH has already been bought out by a sibling and no longer own the house?

Then he should have the money. That would have been transferred at completion when you signed it over to the sibling. It should already be in your account.

I know because Ive done the exact same thing but your adding in loads of confusing and convoluted stuff.

snotathing · 14/03/2025 11:18

...worried they think I purposely misled them.

You did. You said you had money to buy but you don't have it yet and seem to have no idea when you will. Are you due to get money from a probate sale? That can be extremely drawn out.

sweetpickle2 · 14/03/2025 11:27

People on this forum repeatedly call themselves chain free when the money is dependant on them selling a property first- I wouldn't beat yourself up, OP.

You have realised the error now and can admit and rectify. Whether they pull out as a result is up to them, but if you'd got it right two days ago when you offered they might have never accepted if it's a deal breaker for them so I can't see it changes much.

Zeitumschaltung · 14/03/2025 11:32

Just say you misunderstood what chain-free means and you’re sorry, but still hoping to go ahead asap.

Ariela · 14/03/2025 12:21

On the sale of the inherited house to the relative, has that property exchanged? If so I would describe as effectively chain free because no way will that sale hinder the purchase (unless the relative defaults, which they're unlikely to).

Quinlan · 14/03/2025 12:27

BeGreatGoose · 13/03/2025 21:33

We have a deposit and a decision in principle but some of the deposit is savings and some are from a sale of a share of an inheritance (house) we have the funds

Show quote history

Sorry, do you have the funds or are you waiting for the sale to be completed on the inherited house to release the money to you? It can’t be both but you’ve said both. Either you have the funds so you can proceed chain free or you don’t have the funds and are, in fact, in a chain.

Swipe left for the next trending thread