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No Upward Chain Meaning. It is an alternative phrase that means that a seller is looking to. You can move in or start renting it just as soon as you can get your paperwork and finances together and the vendor can provide.
Means end chain from www.slideshare.net
It is an alternative phrase that means that a seller is looking to. There is no definitive answer to this, however when there is no chain, the process is considerably quicker. That means they should have the money (and/or a firm mortgage offer in principle), not be reliant on the sale of their own property to fund the purchase and not be reliant on other factors before.
You Might Be Able To Get The Vendor To Agree To A Date By Which They Have To Move.
If you hear the term no forward chain, it is essentially another term for “chain free”, also known as “no upward chain”. A basic timeline of buying a house is: Hi, chain free means that there is no upward chain so that the seller of the property is not needing to look for a different property to buy / rent before they move out meaning your move.
It Means The Vendors Are Not Buying Anything Else & The Chain Ends There.
The chain ends with a cash buyer or ‘no onward. This means that the person. No onward chain is also referred to as ‘no upward chain’.
That Are Accepted By Vendors From First Time Buyers.
If you hear the term no forward chain, it is essentially another term for “chain free”, also known as “no upward chain”. A property that is described with no onward chain, means the seller is advertising their property as being sold without a chain. The challenge with property sale chains.
It Reduces The Chances Of A Sale Falling Through (Which Could Be Expensive And Time.
The seller will not need the funds (or proceeds of sale) from an existing sale to. That’s why buying or selling a property from/to a third party with ‘no onward chain’ is so appealing. The benefits of having no chain attached as a buyer, is that the transaction can be completed quicker, have minimal risk and a offer the seller a smoother journey.
What This Means Is That Should Any Party Fail To Secure A Sale, Then.
No onward chain (also known as an ‘upward chain’) means that the seller of the property isn’t purchasing another property using the funds from the sale. Obviously then a property with no upward chain is a bonus. Having no onward chain can significantly reduce the length of the house buying process, so there’s no wonder that so many buyers are attracted to properties.
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