FTB with cash

SamG_3

Hi Everyone,

New poster here with a quick question.

My partner and I are looking to buy our first house in London in the next three months and we are in the fortunate position of being Cash buyers.

My question is: How much of an advantage do we have being cash buyers in terms of negotiations and generally being buyers with cash?

Thanks

Sam

PropertyPro

Sam,

It's a great position to be in and you will certainly have the advantage over a mortgagee if you were to put in similar offers on the same property.

Be prepared to show an estate agent proof of your funds when you find the right property. It may seem intrusive, but it will help to get any sensible offer accepted.

Good luck.

Mark

Doozergirl

Quite a good advantage if you find people eager to move.

Vendors will treat buyers differently depending on how motivated they are to sell. If someone wants their asking price, it doesn't matter what colour your money is. On the other hand, someone who has fallen in love with somewhere themselves might be quite eager and grateful for a cash buyer.

If the house were a repossession it would stand you in very good stead.

Trollfever

Go and visit the London property auctions.

SamG_3

Thank's to everyone that has replied.

It's a great help.

Sam