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What does "cash offers only" mean when buying a house?

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  • gingertips
    gingertips Posts: 133 Forumite
    First Anniversary Combo Breaker
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    Ring the estate agent - they will clarify!
  • pinkteapot
    pinkteapot Posts: 8,040 Forumite
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    gingertips wrote: »
    Ring the estate agent - they will clarify!

    More importantly.... Come back after and tell us what they said.

    So many posters never come back to tell us how their story ended. :(
  • Tinks74
    Tinks74 Posts: 201 Forumite
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    Jenniefour wrote: »
    Or someone who prefers not be hanging on wondering if their buyer will actually get their mortgage approved - so many sales are dropping through because some don't appreciate how much tighter mortage lending conditions have become.

    I'd have thought this was the most likely reason as all money reaches they buyer in 'cash' once it is transferred from solicitors.

    Money laundering regs would probably make buying a house with a bag full of notes quite awkward, not impossible but time consuming.
  • slicendice
    slicendice Posts: 18 Forumite
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    Agent just replied to email I sent last night - fairly clear reason:
    The property has previously suffered from subsidence and is not mortgageable

    Nuff said!!!
  • pinkteapot
    pinkteapot Posts: 8,040 Forumite
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    Nice to find an honest EA :D
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