How long to sell a house with no chain

If you've sold a house before, you'll know there are several 'big moments' on the road to completion. You get your property valued, you instruct an estate agent, your estate agent hosts viewings, you accept an offer...

Unfortunately, the timing of each of these milestones isn't straightforward. Which is why selling timelines can vary MASSIVELY.

The most common issue facing homesellers who want to sell quickly are things called property chains. Property chains contribute massively to home sale turbulence, prolonging the selling process by many months.

By selling a house without a chain, you can neutralise some of the obstacles that typical homeowners face and speed up the process of the transaction.

How long does it take to sell a house with no property chain?

With the right buyer, a chain-free transaction completes much faster than a typical property transaction. Some homeowners complete their sales in as little as six weeks. However, the speed of this turnaround depends on mortgage lenders and other facets of the conveyancing process.

Indeed, even if there isn't a property chain involved directly with your house, you may still find yourself attached to one if your buyer is. To reap the benefits of a truly chain-free house sale, you need to find a reliable estate agent who can locate a chain-free buyer.

With this in mind, a much more conservative and realistic estimate for 'how long it takes to sell a house without a chain?' would be 8 to 12 weeks. Some homeowners, even with the benefits of a chain-free transaction, can get bogged down in the details.

Don't worry - there are ways you can mitigate these risks - we'll delve into these later in the article.

How long does conveyancing take with no chain?

Conveyancing is typically much quicker for both parties involved in the sale when there is no property chain. In fact, conveyancing without a chain can be completed in as little as 8 weeks.

What are property chains and how do they affect the speed of sales?

A property chain refers to a series of interdependent property transactions, where the completion of each transaction is necessary for the next to proceed. In other words, the transactions are connected - like links in a chain. If one link fails to complete, it can disrupt the entire chain.

Chains are important to consider when buying or selling a property. Delays or failures in any of the transactions can cause significant complications and potential financial losses.

Why do chains sometimes break?

Maintaining a chain can be a delicate dance, as it involves multiple parties from across the property market, all with different needs and requirements. From changing circumstances to contractual obligations, there are lots of factors that can impact the stability of a chain.

For example, one party may need to move in by a specific date but the mortgage lender requires certain conditions to be met (the results of local searches for example) before releasing funds to a borrower.

When key stages aren't in sync, it can cause a chain reaction that disrupts the entire process for all parties.

To complicate matters further, property transactions often involve families, couples, or friends. Social relationships can shift unexpectedly - we're only human after all! Chains are a complex puzzle that requires all parties to work together to keep them intact.

If one buyer decides to pull out, the chain can be severely disrupted, potentially leading to delays or even a complete breakdown. That's why it's important for homesellers to approach chains with some expectation for compromise. It's impossible for everyone's needs to be met.

Why do chain-free transactions complete faster?

Chain-free properties aren't dependent on the success of other transactions, which makes them much more likely to succeed - and at a faster rate. It's important to remember however, that this isn't always the case.

Chain-free transactions still involve two parties and at least one mortgage lender, which means you're vulnerable to the same problems as a standard transaction, just on a much smaller scale! You'd be extremely lucky to complete a transaction within a six week timeframe, even without a chain.

How can I speed up the process of my home sale?

Even without a chain, property sales can still be vulnerable to problems! Here's some tips on how you can neutralise them.

1. Be prepared

Once you've accepted an offer from a potential buyer, it's crucial to ensure that you have all the necessary documents ready for the conveyancing process. This will accelerate the process since your conveyancer won't be waiting for critical documents or information to arrive.

By being proactive, you can guarantee that your side of the sale runs seamlessly and avoid unnecessary delays.

What is the conveyancing process?

The conveyancing process is the legal part of the property transaction. It's typically handled by a solicitor, sometimes known as a conveyancing solicitor, or simply just conveyancer. For a seller, this process involves:

1. Drafting the contract pack
2. Collating information about the property
3. Conducting property searches
4. Exchanging contracts
5. Completion of the sale
6. Transfer of ownership with the Land Registry
7. Settling any outstanding bills or mortgages on the property

How can I prepare for the conveyancing process?

1. Respond promptly to all requests for information and documentation.
2. Be organised and keep all important documents relating to the property sale in one place.
3. Inform your conveyancer of any potential issues, such as outstanding debts or disputes with neighbours, as soon as possible.
4. Count your fixtures or fittings. Be more or less certain on everything included in the sale.
5. Regularly contact your conveyancer. Ask for updates on the progress of the sale and inform them of any holidays or periods of unavailability where you won't be able to respond.

2. Find a reputable estate agent to help with the sale

Reliable, top-performing agents don't just market your home to potential buyers. They find and vet the best buyers, and help you achieve the best possible price for your home.

If you're looking to speed up your sale, discuss a marketing strategy with your agent. They could help you locate ready and willing buyers who aren't answerable to property chains.

Like any service however, estate agents should be compared with hard data. GetAgent's free Comparison Tool does this all for you, ranking local agents by key metrics, such as:

• Listings in your local area
• Percentage of asking price achieved
• Sale speed

Don't leave your house sale to chance - maximise your selling chances choosing the right agent.

3. Be open to compromise

It's perfectly normal to have expectations for your sale. You might have a deadline, or an ideal price in mind. But a lack of compromise can be an impediment to your sale, and can contribute to delays, and even collapse.

Flexibility is a massive bonus for homesellers who want to find the best buyer and sell faster. Approach selling your home with an open heart to compromise. Your sale will run much more smoothly.

4. Consider selling your house first

If you're not already a chain-free buyer, you could make yourself one by selling your home before you buy a new one. This will reduce the length of the property chain, and if you locate a chain-free seller, eliminate it entirely.

If you go down this route, you'll need to find alternative accommodation and storage for your items as most buyers expect vacant possession upon the date of completion.

The main problem with selling your house first is that funding both alternative accommodation and storage can be expensive. Prior research and calculation of the costs will only go so far. Finding a chain-free seller can mitigate many of the risks associated with this strategy, but this task can prove to be quite challenging!

What counts as a chain-free property?

Looking for a property that's free from the complications of a chain can make the buying process much smoother. Here are some examples of chain-free properties:

• A first-time buyer who is selling their house without needing to sell another property to finance their purchase.
• Property owners who are downsizing and do not need to buy another property.
• A homeowner who has inherited a property and does not need to sell another property to finance their purchase.
• Cash buyers who have paid off their mortgage and do not need to secure a new mortgage for their purchase.
• A landlord selling a rental property that is not part of a chain.
• A homeowner who has already purchased a new property and is not in a chain to complete that purchase.

What happens on completion day with no chain?

Completion day is a significant milestone for both buyers and sellers, marking the final stage of the property transaction. No longer do you have to endlessly wait to exchange contracts - you've completed the major tasks! Now, only one step remains.

But your experience of completion day will vary depending on whether a chain is involved...

If the sale has no chain, the process is typically simpler, smoother, and quicker, offering a seamless transfer of ownership from seller to buyer. There are no third-party intermediaries to complicate the transaction, resulting in a streamlined process with less risk of delays or complications. The buyer and seller can agree on the completion date and exchange keys once the seller's solicitor has received full payment for the property.

In contrast, a sale with a chain may involve multiple parties, making completion day more complex and unpredictable. If any party in the chain encounters financing issues or complications with their property, it can cause delays and even jeopardise the entire sale.

Summary: I can still hear you saying...

Fleetwood Mac aside, you can break the monotony of a chain and sell within a much smaller time frame, as long as you consider some important factors:

• Pick the right estate agent to locate a chain-free buyer
• Deliver all of your documents to your solicitor in a timely manner
• Keep in mind that compromise is key for a punctual property sale

And remember: whether you're thinking of selling in the near future, or simply want to touch base with your largest financial asset, you can get an instant property value estimate using GetAgent's free Online Valuation Tool.