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What Does No Onward Chain Mean?

What does no onward chain mean

If you have search properties on Rightmove or on an estate agent’s website and you see the term “No Onward Chain“, you may be wondering what this means.

No onward chain meaning: When a property is listed with no onward chain, it means that the person selling the property isn’t purchasing another property with the proceeds from the sale. This means the sale can complete faster, as the seller does not have to wait to find another place to move into before they can sell.

Why is no onward chain a benefit to buyers?

The benefit of properties with no onward chain is that the purchase can be completed faster, as the vendor isn’t reliant on the sale to buy another property. Longer onward chains have a greater the risk of delays or of the transaction falling through, but with no onward chain the risk is reduced.

No onward chain complications

The best way to avoid any onward chain complications is to find properties sold with “no onward chain“, which means there isn’t an onward chain to create the complications experienced by chain-sales.

You have to check the sellers don’t have an onward chain, as sometimes vendors sometimes can be lying about no onward chain.

What sellers can sell with no onward chain?

Typically, sellers who can sell a property with no onward chain include the following:

No onward chain properties

  1. Probate sales or inherited property.
  2. A person who is selling to move into rented accommodation.
  3. A person who is selling to move abroad.
  4. An elderly person who is moving into a care home.
  5. The seller is moving in with a partner or spouse.
  6. The seller is moving in with friends or relatives.
  7. Investors selling an investment property.
  8. Repossession property.
  9. Properties sold at auction.

Can a property with no onward chain still fall-through?

Properties with no onward chain can still fall through for the following reasons:

  1. The sellers chain their mind during the conveyance process.
  2. The buyer pulls out as a result of problems found on the survey.
  3. The buyer’s mortgage offer is declined due to financial issues.
  4. The conveyancing solicitor are slow to progress the purchase, and the seller gets fed up with waiting and sells to another buyer or pulls out.
  5. Another buyer ‘gazumps’ the sale, which the seller accepts a higher offer from another buyer.
  6. The buyer could change their mind and decide not to proceed.
  7. If the buyer of the property is in a sales-chain, one of the buyers in their chain may have a problem, which could result in the purchase no longer proceeding.

I hope you’ve enjoyed this article about what does no onward chain mean

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What Does No Onward Chain Mean?

Article written by Russell Bowyer who has been investing in property since purchasing his first commercial property in the 1990's for his own Chartered Accountancy business. But his first property investment project was to turn an old dilapidated restaurant into a large 5-bed home, which he purchased for £117,500 and sold for £450,000 (to see an "after" photo of the house before it was sold see here: About). Russell owns a number of investment properties, which includes houses, flats and HMO's. More recently he has turned his creative side to investing in property using lease options. His largest lease option deal to date was to acquire 12 properties worth over £2 million for just £12, which means he paid just £1 to acquire each property!

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