What does 'No Chain' mean when buying a property?
Find out what No Chain means when you are buying a property. 'What does No Chain mean?' plus over 150 other property related terms and jargon in plain English
No Chain
See
Search Results for 'chain free' in
How to Really Buy a Property
Chapter 14:
Viewing Properties and Making Offers
"... you should have to hand;
Why agents ask questions that could cause you offence;
The terminology used by agents;
The difference between chain free and Vacant Possession;
Why you can't get a mortgage on some properties;
The characteristics of a leasehold property;
What lease lengths..."
"... when they speak to you, in other words they generally assume you know them.
The most frequently used are:
First Time Buyer
chain free and Vacant Possession
Tenanted
Cash Purchasers Only
Repossession
Leasehold
Share of Freehold
Freehold
- First Time Buyer -
Originally this..."
"... cost of renting is often outweighed by the lower offers that are accepted by vendors from First Time Buyers.
Such buyers are also sometimes referred to as chain free (see below)
- chain free and Vacant Possession -
The two terms are often mixed up but they can mean very different..."
"... that are accepted by vendors from First Time Buyers.
Such buyers are also sometimes referred to as chain free (see below)
- chain free and Vacant Possession -
The two terms are often mixed up but they can mean very different things:
chain free Buyer: A buyer who does not need to sell..."
"... and Vacant Possession -
The two terms are often mixed up but they can mean very different things:
chain free Buyer: A buyer who does not need to sell anything in order to buy (see above)
chain free Property: A vendor who will sell his property and move out as soon as the solicitors sort..."
"... Free Property: A vendor who will sell his property and move out as soon as the solicitors sort out the paperwork and the buyer has the funds in place. This is different from the chain situation where a vendor accepts an offer subject to him finding a place to buy. chain free Properties are extremely attractive as any purchase should only involve five parties - you, the vendor, the lender and the two solicitors. The fewer people involved and the shorter the timescales, the more likely it is that everything will happen..."
"... it is that everything will happen successfully
Vacant Possession: This is often confused with chain free properties. Just because a property is empty it does not necessarily follow that it is being offered chain free so always double check.
- Tenanted -
It is possible to buy a..."
Chapter 15:
How to Really Make an Offer on a Property
"... aware that it is not always the highest bid that gets the property. One party may offer £302,000 but they themselves might be in a chain. If another party offered £298,000 and was chain free the vendor may go for what they see as the 'safer' option even though they will loose a potential..."
