Cash or first time buyer - which is better?

chickmug

Cissi wrote: »

Sorry, I should have said "most properties around us that go "under offer" seem to come back on the market after a month or two" as this is purely observation. I base this both on local experience, rightmove etc and also from reading the numerous threads on here complaining of mortgages that get declined because the valuations come in lower than the agreed selling price.

Thanks for getting back.

The only thing I would say, and I may get shot down, is I don't feel the threads, on the forum, are necessarily typical of what is happening out there. I am out of touch now but when I was first reading the forum, and was working in the business, many of the posts did not reflect the day to day facts 100% accurately.

princessamy86

I'm going to back chickmug on this one, there aren't many downvaluations now. People who start looking at houses and haven't had any financial advice are now few and far between: buyers are more prepared and more serious. Don't forget the majority of people on here are asking for help-you don't get many who want to write a thread about how easy their sale was!

Cissi

I can believe that to be the case, chickmug and princessamy. I still see an awful lot of houses go "under offer" for a couple of months, then come back as "available" again - including 2 of the 3 houses on our current street that are for sale (the 3rd hasn't had an offer in 18 months). According to both vendors (our neighbours) both sales fell through due to mortgages not coming through. I've heard the same story from a number of locals, admittedly mostly through gossip

chickmug

Cissi wrote: »

I can believe that to be the case, chickmug and princessamy. I still see an awful lot of houses go "under offer" for a couple of months, then come back as "available" again - including 2 of the 3 houses on our current street that are for sale (the 3rd hasn't had an offer in 18 months). According to both vendors (our neighbours) both sales fell through due to mortgages not coming through. I've heard the same story from a number of locals, admittedly mostly through gossip

Princessamy will be more up to date but sounds like incompetant EA's not ensuring the sale as waterpoof as it needs to be when agreed. I would rather make sure, at the outset, than it going wrong after a few weeks or longer.

Cissi

In that case there must be a lot of incompetent EAs around here... Having dealt with a number of them when selling our house a few years ago as well as when buying both 9 years ago and now I'd say that's almost certainly the case :rolleyes:

hethmar

Without doubt the cash buyer but get the EA to check out their credentials. They sound good though, if they are moving with their company it may be that the finance is being supplied by them too.

First Time Buyers have yet to go through the hoops with arranging a mortgage and may fall at that hurdle or when the survey shows what more experienced buyers will accept as minor problems.

Good luck. What a good result though that quickly