Nested guides: Glossary of UK property sale terms

Glossary of UK property sale terms

Assisted sale

A method of sale where a home buying company pays you an amount for your equity (typically 85% of fair market value) whilst servicing your debt in the property until it sells.

Cash-buyer

Someone who is able to purchase a property with cash and is therefore not dependent on selling another property or approval from a mortgage company or other lender.

Chain

When a property purchase is dependent on another transaction. Either because the buyer needs to simultaneously sell their property in order to purchase this property or because the seller wants to wait until they are able to purchase their next property.

Chain-free

A property seller or buyer who is not dependent on selling or buying another property to complete a transaction. Most commonly used to describe sellers who do not intend to buy another property immediately and can therefore complete as soon as a buyer is ready.

Distressed house sale

Selling your house to a home buying service or property developer for below fair market value.

FSBO (For Sale By Owner)

Homebuyers who wish to take on more of the sales process themselves. This can range from listing the property on Gumtree and running the sale from end-to-end to using an online agent like Purple Bricks and running the listings yourself but using their designated agent for valuation, negotiation and other services.