This question is from Zoopla user kclarke64015 about property chains and what they are and mean.
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What does the term chain or no upward chain mean?
What Does Chain or No Upward Chain Mean?
Video Transcription
Chains are a series of linked transactions, like a chain, and that would be, for example, a first time buyer buying a flat and a person from that flat is buying a house and a person from that house is buying a bungalow.
You then have a chain of three people involved, all connected to each other and all dependent on each other in order to move. Now, of course, you’ll often hear broken chain or fall through, these sorts of things, and it could be for example buying a bungalow is unable to do so because the first buyer, right at the beginning of the chain has lost their job and not able to purchase.
So, chains can have there share of headaches, certainly stressful to be involved in and in fact that’s why a lot of people come to House Buy Fast in order to break the chain situation and just sell for cash fast, with no strings attached.
