Is cash king?

poppysarah

If you're a cash buyer should you be able to get a better deal on a house?

(Just read something to that affect in another thread and just wondered what you all think)

Is the main difference is the buyer doesn't have to get a survey - or are there other things I'm missing?

Doozergirl

The benefit is to being chain free. I would not discriminate between a cash buyer and someone with no chain.

In fact I might actually go in favour of someone that needed a mortgage - there is something more earnest about that kind of buyer.

Buying cash without the usual conveyancing is risky. We've never bought cash without doing the proper checks.

poppysarah

Even if a mortgage valuation might say your house is worth less?

Doozergirl

poppysarah wrote: »

Even if a mortgage valuation might say your house is worth less?

I've always priced my houses fairly.

SwissLe

Cash is normally king in a situation where a quick sale is needed. This is normally the case when it comes to a repo or a developer looking to offload property. They will normally accept a much lower offer from a cash buyer as it removes the delay and risk applying for a mortgage, a survey and all the admin that comes with that. A normal person looking to sell their home would normally wait for the mortgage offer in order to achieve the best price possible.