A chain break refers to a disruption in the chain of transactions that needs to occur in order for a property sale to be completed.
The property chain refers to the sequence of transactions that need to occur in order for a property to be bought or sold. For example, if person A wants to sell their property to person B, who in turn wants to sell their property to person C, there is a chain of three transactions that need to take place in order for all parties to be able to move forward with their plans.
A chain break can occur for a variety of reasons, such as the buyer or seller backing out of the transaction, the inability to secure financing, or the discovery of issues with the property that need to be resolved. A chain break can cause delays or complications in the process of buying or selling a property, and can ultimately result in the transaction falling through.
