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Chain

In property terms, a chain is a line of buyers and sellers all involved in linked transactions.

The chain usually begins with a first-time buyer or someone in rented accommodation, and includes all the buyers and sellers in each property. Because one transaction depends on another, a hold-up with one can affect them all. One person pulling out of the chain can cause the whole chain to collapse and may result in a cancelled (or abortive) transaction.

Chains are a source of stress and anxiety because they can cause purchase or sales to abort. For this reason being a 'cash buyer' or chain free is often viewed as an advantage by the seller when you are negotiating the purchase of a home.

There is no silver bullet solution to managing a chain but communication and flexibility are a good place to start!