Things were going really well for Usman; this Bradford couple had found their dream home and subsequently, he agreed the sale of his own house. Unfortunately, his buyer then changed their mind, causing a lot of stress and anxiety. Having spent many hours researching the new area and its amenities, then hunting for their perfect property, they were understably devastated by hearing the chain had broken when their buyer was refused a mortgage.
Problem: How to deal with a broken property chain?
When your own buyer falls through, it disrupts the whole chain of buyers and sellers who are dependant on each other – known as a property chain. You can’t sell your house, therefore you can’t get the proceeds to buy the house you want; the next person in the chain can’t buy their new house until heir current house has been sold (which is dependant on you) and so on. Property Saviour has a great deal of experience when it comes to housing chains collapsing. We understand the impact it can have on your future plans, finances, wellbeing and even your relationship.
Option 1: Wait for a new buyer... and risk missing out
The most obvious option may be to sit tight and wait for a new buyer to come along – if you have the time and haven’t set your mind on a certain property or area. But Usman really needed to sell his house quickly, as they needed to be in the right catchment area for a new school. Quick thinking needed!
Option 2: Sell your house quickly to a cash buyer
Usman found Property Saviour through one of our online ads and he got in touch immediately. We made an offer on the same day which was gratefully accepted. We then instructed solicitors on his behalf, so he didn’t even have to deal with all the legals. What a relief!
Result: Broken chain property sold for cash!
We arranged to complete the house sale on a date that suited Usman and his family. We were able to work with him to offer him a few days to stay at the property once the sale was completed, making his onward move much easier. The family settled well into their new area and were able to secure their choice of school.