Key features
Its a massive house
Its not that bad really!
Huge potential
No forward chain
Description
I am probably going to get sacked when the owner reads my description…but in the meantime we are running with it! Yes its a right dump, but its a large dump. And actually look a little closer and its not as bad as it may seem. There are number of replacement windows, has a modern fuse box and the roof looks good with lead flashing around the firewalls and chimney. And its big, offering a large sitting room, dining room, kitchen, conservatory, three bedrooms and an upstairs bathroom. The garden is pretty decent too. This is your chance to save Santa and bag yourself a bargain too! Offered for sale with no forward chain.
A 1200sqft 3/1 is considered large? I guess I don’t know UK standards.
Also, what do they mean by “no forward chain”? Is that like a monthly HOA fee?
All relative, in a city (albeit not that desirable) the housing stock will be smaller so I suspect the agent means relative to other houses.
It means the sellers are not buying a house using the proceeds from this sale. Usually means the sale will be quicker.
Sounds like “no contingencies” in the US
Not quite the same thing I think.
My understanding of “no contingency” is more to do with inspections, certifications etc. I.e. an offer has been made that isn’t going to be cancelled if the structural survey comes back with a load of issues to fix.
“Chains” in UK real estate lingo are about whether your sale is tied to other sales. For example, if you’re buying a house from an owner-occupier who won’t move out (and give you your new house) until the new house that they’re buying is ready- that’s an onward chain. A chain in the other direction would be someone who says that they’ll buy a house, but will only have the money to make the purchase once they’ve got a sale locked in for their current house. Selling a house with “no onward chain” is telling the buyer that they can have it as soon as they’ve got the money, and that the seller isn’t waiting for anything.
Chains can get very messy and complicated, as you can end up with s dozen house sales all tied up with each other waiting for one house in the chain to be ready to go before any of the others can go.
You’re talking about buyer contingencies.
This is basically “No seller contingencies “ in US lingo.