So what can be done to hold the chain together?

Alan Williams of Gullands Solicitors, Maidstone has some ideas.

With a buoyant property market, chains with four or five properties in them are not unusual, however, recently I have dealt with chains with eight or nine properties.

Until the recent recovery of the market there had been a trend for people to complete the sale of their existing property and move to temporary accommodation before looking to buy again.

However, as property prices are rising people are looking to tie in their sale with an onward purchase. In part this is to avoid the upheaval of moving more than once and storage, removals and rent costs.

But more importantly I believe this is to ensure they are not caught out by price rises on properties that they would want to buy.

There are many external factors that may bring pressure to bear with regard to dates for exchange of contracts and completion such as the cut off date for applying for a school place, holidays, Christmas or personal matters such as getting married, having a baby or starting or leaving a job.

All these factors have the potential to add to the stress of a situation.

So, how best to deal with the strain of the chain?

Firstly – and i know it’s easy to say but hard to do – be patient. The chain will only move as quickly as the slowest person in the chain. On average contracts are exchanged in four to six weeks and completion usually within a fortnight thereafter, however there are many factors beyond your or your solicitor’s control that can affect this.

Secondly, use a solicitor accredited by the Law Society with the conveyancing quality scheme. Under the scheme there is a code of conduct and time scales imposed with regard to matters such as dealing with correspondence and preparing the initial documentation for submission to a buyer’s solicitors.

Thirdly, if at all possible, do not give notice on employment before a move, unless you can afford to do so.

So, if you are starting a new job you may wish to consider the option of temporary accommodation.

Fourth, avoid committing to a date with removal companies until you have exchanged contracts, as a number of removal companies will charge a fee for cancellation.

Fifth, use your estate agent. A good agent can help smooth the water and keep all parties happy. The agent can liaise directly with both parties to the transaction.

It is generally better to avoid dealing direct with your seller/buyer as this can, on occasions, create difficulties.

Lastly, avoid late re-negotiations on purchase price as any change in a purchase price where a mortgage is involved will need to be formally approved by the mortgage lender, which could take some time. Your survey should be carried out at the outset.

To sum up, being in a chain is undoubtedly stressful but with the assistance of a professional solicitor and a good estate agent most difficulties can be overcome.

Alan Williams is head of the residential property team at Gullands Solicitors, Maidstone. Call 01622 689700.