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Chain
In property Terms a Chain is the line of buyers and sellers directly connected to the sale of a particular property.
For example, if you are selling your home, you are buying a property from another Vendor. They, in turn, will be buying from another Vendor, who are themselves making a purchase (and so the Chain goes on).
As everyone in a Chain has to wait for all the other deals in the Chain to reach completion, the existance of a Chain can add the the complexity of a purchase. This will why many buyers will be attracted to properties advertised as Chain free. |
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