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What % off asking price for cash buy
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elliott2
Posts: 13 Forumite
I am a first time house buyer who, I'm told is too old at 63 for a mortgage? so I am trying to buy with cash. How much %wise could I expect off the asking price for a cash sale?
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Most people have their bottom line, and dont care how the finance is raised, so although they may accept an offer from a cash buyer over some one who needs a mortgage, they dont tend to offer them a discount.Pawpurrs x
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make an offer and see. house prices are over valued by estate agents anyway to give room for negotiations.
you have no idea of the sellers finances, mabe they are due to be reposessed and will sell cheap.
be cheeky you might get lucky0 -
didnt really do me any favours when we were cash buyers tbh. i think chain free is bonus but to many its not a problem.Listen to what people say, but watch what people what people do!!0
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maninthestreet wrote: »You're buying a house, not a car!
I was thinking the same thing but, don't forget, if you were selling and a potential buyer was able to buy your house with their own money rather than then lenders at a time when people were finding it difficult to get a mortagage then you may consider a discount to get shut of the houses asap.
If someone came to my door with £X in £50 notes then I'd have to charge more for the handling of the cash. :rotfl:0 -
It all depends................................I have put my clock back....... Kcolc ym0
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I am a first time house buyer who, I'm told is too old at 63 for a mortgage? so I am trying to buy with cash. How much %wise could I expect off the asking price for a cash sale?
I would take no notice of asking prices but use the land registry sold prices as a guide for similar properties. If prices are now reportedly back to 2004/2005 then you could use this as a guide. In terms of your cash position, the vendor should realise that with the average property loosing around £2000 a month and the building society valuation likely to be on the lean side - they could be in luck with you.0
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