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Terms used in listings.

Not familiar with some words in listings. What does the term "chain" or "no upward chain" mean?

Asked on Sep 18 2013, General in London | Report content

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  • Hi, It means the seller does not have to find another house to purchase and can move out when you would like to move in. Sometimes chains can be never ending. I.e. your seller buying another house and that seller buying another house and so forth, therefore this is why buyers like chain free houses.

    Answered on Sep 19 2013, Report content
  • Hi KClarke6405, A property chain is essentially just the series of actions that exist to make the market move. Basically you buy a house, and that person purchases another, and the person they deal with buys another, creating what is known as a chain of transactions. So when it says that there is no upward chain, this just means that the person you are buying from does not need to rely on purchasing a property before they can sell to you. Perhaps they already have another house that they will simply move into. The term is there to show you that the purchase you go through will be convenient and easy, with nothing above likely to break down and cause your purchase to encounter difficulties or delays. Many thanks, Scott

    Answered on Sep 19 2013, Report content

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