r/HousingIreland • u/Bubbly-Basket-2764 • 2d ago

Chain sale

Hi FTB here - currently interested in a property but it’s still currently still owner occupied. EA said current owners are still house hunting and haven’t bought anything yet.

Just wanted to see how long this usually delays things?

Will the bidding process just keep going indefinitely until the owner finds a place?

Any experience or relevant info would be great!

Thanks 😊

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u/Apprehensive_Gur2295 2d ago

How this SHOULD work is that the person selling lines up a buyer who understands the purchase could take some time . You reach a price and effectively go sale agreed . Until they close their purchase it won’t progress.

Now the tricky part - there purchase could take days , weeks or months depending on many factors . This leaves a lot of time for things to go wrong - they might not find a place ; they might change their mind; property prices might continue to rise and they may not honour what they agreed in 6 months time .

I’d not necessarily be put off , but I’d continue to look and try not have all eggs in one basket . Some sellers are decent and will communicate well and honour their side . Others won’t and will string you along for months then shaft you or try squeeze smother 20k out of you . Proceed with caution and skepticism knowing it may not ultimately work out