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    What does "cash offers only" mean when buying a house?
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    • 18th Apr 11, 12:00 PM
    What does "cash offers only" mean when buying a house? 18th Apr 11 at 12:00 PM
    Hi everyone
    Sorry if this is a really stupid and/or obvious question, but can anyone tell me what it means when a house is being sold and it states in the advert "cash offers only"?

    At absolute face value, it almost sounds like they don't want anyone who's going to have to get a mortgage and only want bids from buyers who can turn up with a massive suitcase full of 20 notes - but surely it can't mean that? Does it really mean you need to have that much money in your bank account?

    Or does it just mean that normal mortgages are OK and it's just that they don't want any weird financial offers/situations (e.g. I'll offer you [asking price - 40%] plus this lovely shed and a slightly used Vauxhall Vectra)?

    The price being asked does seem quite cheap given the size of the house and the area it's in (i.e. it's a good sized house in a nice area)...should the "cash only" thing ring alarm bells?

    Thanks very much!
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