UK
Property chain
A property chain is a line of sales that depend on each other. Each household is selling one home and buying the next, so one delayed sale can hold up every other.
Also called Chain.
Why chains break
A survey, a down-valuation, a slow mortgage or a buyer who has not sold their own home can stop the line. The agent does not control the other solicitors. What you can do is keep a clear note of who is waiting on whom, and tell your vendor when the delay is outside your sale.
Chain-free is not the same as cash
A buyer with nothing to sell is chain-free. They may still need a mortgage. A cash buyer has no mortgage, and may or may not have a property to sell. Say which fact you have actually checked.
Questions
What does Property chain mean?
A property chain is a line of sales that depend on each other. Each household is selling one home and buying the next, so one delayed sale can hold up every other.
General information for agency staff, not legal advice. Rules and local practice change. Check the official source before you rely on a definition in a client letter.