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Cash Purchase
amanda47
Posts: 240 Forumite
Was hoping to put a offer on this house I've seen advertised on right move, but they are asking for cash only can you tell me is this legal and what about money Laundering. Am I being very stupid the house is a repossessed house.:beer:
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Comments
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"Cash" doesn't mean a crisp pile of notes; it just means no mortgage is involved.
The house probably isn't mortgageable. Maybe it doesn't have a kitchen, maybe it's falling down, maybe it's on the 20th floor of a tower block...there'll be something that makes the estate agent think no lender will lend on it.
Edit: Just realised that if it's a house, it isn't on the 20th floor...but I'm sure you can work out what I mean! Maybe it's of non-standard construction or something like that.0 -
Ask the agent why they are looking for a cash buyer only.Was hoping to put a offer on this house I've seen advertised on right move, but they are asking for cash only can you tell me is this legal and what about money Laundering. Am I being very stupid the house is a repossessed house.:beer:0 -
Thank you Annisele I am dumb, I thought I would walk in to an estate agents with all this cash :rotfl:0
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You're not the dumb person who suggested your "house" was 20 floors up in the air...it's too hot today, my brain's asleep!0
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Thank you all :beer:. Blackdog the previous owners gutted the house its in a mess.0
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One I saw go to auction had no planning permission, no building regs, they'd started converting the loft and started converting under the house and knocked out all the ground floor walls.... and the council put a "stop" notice on their work and propped it up with scaffolding as it was about to fall over..... auction notes said you have to have your own acro props in place by completion as the ones holding the house up were on loan and would be removed on completion day.
Cash buyers only is never a good sign....0
:rotfl: 
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