Page 13 - January 2024
P. 13


 What happens in a property chain?

 Lyndsey Beckwith, Head of Estate Agency at Ralph Sayer, details what
 happens when you find yourself in a chain of buyers and sellers.

 or a long time, chains were not really an   property onto the market within a week, and
 issue in Scotland. However, this has since   there will usually be a four-week review period.
 F changed  and  they  are  quite  common   You won’t necessarily lose your purchase if you
 now; they arise as a lot of sellers are nervous   haven’t sold your property by the end of the
 about  selling  their  current  home  before   fourth  week,  but  it  acts  as  an  opportunity  to
 securing  an  onward  purchase,  meaning  they   review the purchase and make sure the seller
 offer on properties ‘subject to sale’. The chain   is satisfied that everything is being done to try
 can  lengthen  if  that  seller  then  goes  on  to   and secure a sale.
 accept an offer that’s subject to sale, and so on.
 If there are multiple sellers and buyers in the
 If you offer subject to sale, the selling agent   chain,  communication  and  updates  between
 will  consider  what  you  are  selling  –  for   all  parties  is  key.  Solicitor  estate  agents  are
 instance, is it a property they feel will sell well   therefore ideally placed to deal with chains, as
 in  the  current  market?  They’ll  also  look  at   they  can  handle  both  the  estate  agency  and
 which agent you are using, to ascertain if it’s a   legal work for a client, and therefore will have
 proactive agent who will work hard to sell the   an understanding of what is happening at every
 property, before advising their client whether   stage of the process.
 to go down the route of entering into a chain
 by accepting your offer.  Whilst  chains  can  sound  daunting,  if  handled
 correctly by all parties involved the whole chain
 If you do have your offer accepted subject to   should be able to move on smoothly, meaning
 sale, you will generally need to get your current   you will all be settled in your new dream homes.

 For more from Ralph Sayer, visit or call the office on 0131 225 5567.

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