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property chain - buying and selling properties simultaneously

what you need to know

Selling your house and buying another simultaneously is always a balancing act and can be quite a tricky endeavor. Usually, the party selling their house need the money from that property to finance the purchase of their new property. This often results in a “property chain” whereby you buy and sell properties simultaneously. Unfortunately, “property chains” can delay the legal process as the contract for the sale of your house is usually conditional on the purchase of your new house so nothing will complete until everybody is ready.

There is more stress in buying and selling on the same day however the transactions are completed over a shorter period of time. The alternative involves two moves, selling your house and moving your belongings into storage, and then subsequently completing the purchase of your new house and moving the items from storage into it.

From a legal viewpoint, it is more complicated to buy and sell properties on the same day that are in a chain. If the sale of your house completes but, for whatever reasons, the purchase of your new house does not close as predicted then your have moved all of your belongings out of your property and you have no where to move them to. It is always advisable to have a back up plan where this scenario arises. Can you stay at a friends house and have your items put in storage? 

Having said this, the majority of transactions complete on the same day or within 2 working days. Where a property is in a chain and you want them to complete on the same day, it is advisable to line them up so that the closing day falls early in the week (Monday, Tuesday, Wednesday) so should the purchase of your new house be delayed, you won’t be stuck trying to house yourself over a weekend as property sales cannot complete over weekends.  

Finally, for property transactions to complete on the same day, monies will need to transfer early on the closing day. Banks have cut offs for “same day transfer of monies” meaning that if the sale of your house is delayed to the afternoon, it will mean that the purchase of your new house will not be able to complete until the following day as the closing monies will not be with the vendor’s solicitor until the following day.

Anyone selling and buying a property and intend on it all happening on the same day, should consider the above.  


  1. Critical things to consider when buying or investing in property with a friend. 
  2. Can you buy auction property with a mortgage? 
  3. How to switch your mortgage
  4. Top tips for selling your house
  5. What are the costs and outlays when switching your mortgage? 


We have extensive experience in dealing with all matters relating to buying and selling residential property . If you are looking to speak with an experienced solicitor, then please get in touch today for a no obligation quote.

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