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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 31861
Experience:  Over 5 years in practice
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We are in a 3 property chain in a circle! How can we exchange

Customer Question

We are in a 3 property chain in a circle! How can we exchange and then complete 5 days later?
Property 1buying property 2, property 2 buying property 3 , THEN property 3 buying property 1!!! So a loop of houses our solicitors are saying we can't exchange! How can we exchange and complete??
Please help with a solution!! We are all annoyed as this issue only came up when we were at the point of exchange!!! Even though they knew the situation

Kind regards
Alison
Submitted: 3 years ago.
Category: Law
Expert:  Alex J. replied 3 years ago.
Hi

Thank you for your question and welcome.

My name is ***** ***** I will assist you.

What reason have they given for advising you not to exchange?

Kind regards

AJ
Customer: replied 3 years ago.
That as there isn't a start and finish to the chain there is no money( deposit) asthe deposits are all tied up in the houses in the chain
Expert:  Alex J. replied 3 years ago.
Hi

Thank you.

What number house are you in the chain?

Kind regards

AJ
Customer: replied 3 years ago.
There isn't a chain as we are in the loop!!!
1-2-3-back to house 1

A buying B-buying C C buying A so we are in a circle of properties there isn't a start
Customer: replied 3 years ago.
Relist: Incomplete answer.In a chain with 3 properties in a loop so no start to a chain how can we start to exchange and then complete?Property A buying prop B, prop B buying prop C, prop C buying prop A so we are just moving in a circle our solicitors have said we can't exchange as their isn't a start to the chainPlease help