Property Sale and Chain Strength
Hi all,
I have accepted an offer through a private buyer for my property.
The chain is short: first-time buyer -> our buyer (equity + cash), our mortgage in principle approved.
We have made an offer to a property that we liked, the first one was rejected, the second buyer was considering. They have now rejected saying that, after offering to a property, their seller preferred a lower offer to theirs as our chain with a private seller is very weak compared to any chain supported by estate agents, which is more likely a private sale to fall through than any other chain.
Their estate agent has confirmed proof of funds with our buyer solicitor.
My question is, is it likely that we are going to encounter this issue more times on our search/offers due to the private sale? Or it is just an unfortunate event?
Would be wise to get an estate agent to strengthen the chain?
Thanks a lot