You could also find a seller who doesn‘t move or doesn‘t intend to buy another home so you don‘t depend on it — and so there wouldn‘t be an up-and-coming chain. A question that many have when buying or selling real estate is: “How long is the chain?” Although long and complex chains are notoriously stressful, time-consuming and difficult to manage, it can be disconcerting to understand exactly what this means, especially if you are new to the real estate market and you are buying your first home. Sohail Rashid says: “A real estate chain is very simple, a succession of related home purchases. If you are in a chain, buying or selling a home depends on buying on both sides of your property. If you are a first-time buyer, your chain only moves in one direction, as you don‘t need to sell a property to buy your new home. This is also the case (but vice versa) if you inherit a house that you then want to sell — the chain is a possibility. It is important to know why the chain is broken. For example, if your mortgage lender is not willing to pay the price or if you can‘t sell your home on time, then you might consider getting a bridging credit where you take out loans against your current home to cover the costs. SpAs are used by large listed companies in their supply chains. A BSG can be used when a large number of materials are obtained by a supplier or in the case of a large-scale individual purchase. For example, 1000 widgets, all delivered at the same time.
Unfortunately, there is not much you can do if the real estate chain breaks. But financially, a break in the chain and an impact would be catastrophic. In addition, all links in the chain will work with their own real estate agent, lawyer, surveyor and mortgage lender. This means that there are several variables involved in buying homes, so there are many reasons why a real estate chain could disintegrate. While it makes the homebuying process more fluid and more likely, faster, it is more important to find the right property for you and your budget rather than just looking for ways to avoid or shorten a real estate chain. Each member of the chain is a home sale that depends on both buyers who receive money from the sale of their homes and sellers who successfully purchase the homes they want to move into. Where there is no chain, it is called chainless property, but only 10% of real estate transactions in the UK do not have a chain.  By tracking these data points, View My Chain users can view automated key purchase and sale bricks to track the entire process. With View My Chain, we want to completely revolutionize the chain process — dramatically reduce the number of channels that have collapsed and speed up completion times by an average of 15 days. Sohail Rashid said: “In the past, there was little you could do to prevent problems in your chain, except make sure your own finances were in place and constantly call your realtor to check the status of all parties.