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What is a Broken Chain?

A "chain" is a series of linked house purchases upon which the sale of your property hangs. If any of the transactions linked to your sale do not go through, this is referred to as a "broken chain".

To give you a clearer picture, let us give you an example. A prospective buyer, John, wants to buy your house. But before he can, he has to wait for Tony to buy his property. So if Tony suddenly backs out from buying John’s house, the chain breaks and your hopes for a fast house sale are dashed.

The Bitter Truth

Surveys show that over 30% of house sales fail because of broken chains full of uncertainties beyond your control. Many homeowners wait months for a sale, only to be left in a very difficult situation, victims of a broken chain.

A broken chain causes a lot of wasted time, effort, money and even opportunities. If you are part of a chain, you risk losing the "dream house" you’ve been eyeing, having to bear debts piling up from paying a supporting mortgage due to the delays in selling your house. You’ll also have to start the selling process again from square one.

Avoid a broken chain with Yellow Springbok 

 

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