Unless you have necrophobia there’s no reason why you shouldn’t buy and move into a house someone just died in. You might find it’s a way to grab yourself a bargain, as the research suggests that over a third of people wouldn’t buy a house where someone died, which will affect the property’s value.
If you’ve sold your house with nowhere to go you should step up your search for a place to buy, but at the same time find somewhere to rent. If you don’t find anywhere to buy before your buyers want to complete you should move into rented accommodation and continue your property search from there.
Usually everyone in a chain will move on the same day. The people in the middle of the chain have to move on the day of completion, whereas those at the bottom of the chain can move on the same day or after completion day. But the people at the top of the chain can move out anytime before or on the day of completion.
When a house chain breaks, where ever the failed purchase lies within the chain, this will affect all the buyers and sellers across the whole house chain. This includes the final seller at the top of the chain and first buyer at the bottom of the chain.
OIEO Meaning: OIEO is an abbreviation of the term Offers In Excess Of. Which actually means the vendors would like to receive offers in excess of the listed price.
If your buyer pulled out on exchange day in England or Wales there’s not much you can do about it. Buyers are not legally obliged to purchase until contracts have been exchanged. If you’re in a chain and you don’t want to lose your onward house purchase, you need to consider selling to an investor.