It doesn't make sense - Warning rant alert!

[Deleted User]

agrinnall wrote: »

What's to say the cash buyer hasn't already sold their home in order to be able to proceed with the purchase quickly? Your attitude seems a bit judgemental.

Judgment is based on the number of cash buyers who looked round my house and just asked about its potential as a rental. But i'd also priorities a young couple buying my house over an older cash-buyer, even if they weren't an investor. But hey - i'd really put a priority on the most motivated highest offer

serious_saver

ringo_24601 wrote: »

Personally, i'd rather sell my home to someone who wants to use it as a 'home' rather than an investment. It may only be bricks and mortar, but I'd much prefer that someone gets to 'live' in the property, rather than just use it as a part of their bloated pension fund.

And for that reason, i'd rather sell to someone with a mortgage than a cash buyer

When did I say I wanted the house purely as an investement?

I'm a cash buyer but I still want a house as a home. I've just decided that I want to live within my means rather than tie myself to a mortgage for the next few years.

[Deleted User]

Why don't you just ask the estate agents then?

serious_saver

ringo_24601 wrote: »

Why don't you just ask the estate agents then?

Ask the estate agent what?

I'm not sure which earlier post this question refers to.

atush

ringo_24601 wrote: »

Personally, i'd rather sell my home to someone who wants to use it as a 'home' rather than an investment. It may only be bricks and mortar, but I'd much prefer that someone gets to 'live' in the property, rather than just use it as a part of their bloated pension fund.

And for that reason, i'd rather sell to someone with a mortgage than a cash buyer

Bloated Pension fund?????? Not enough people in the private sector have pensions and those that do should get thanks for not relying on your taxes to 'help' them out when they are older.

What a numpty thing to say.

atush

vuvuzela wrote: »

Cash buyers aren't all 'investors'. With the current housing market, chains are breaking down regularly. There will be a lot of people who have decided to proceed with their sale even though their vendor has pulled out, and are therefore living temp in rented with a large bundle of cash in the bank ready to buy their next home.

This is quite true. I am thinking of selling my home in a years time, and will be renovating it prior as I built it 17 years ago and things are getting tired. Then I will be a cash buyer, but buying to live in not so much an investment, But I do consider even the house I will buy to live in as an investment'.

carefullycautious

Maybe it is going to someone who works for the bank.

LP84

As a FTB involved in a repossession war- I find it quite rude that you think cash buyers should be given priority . We want our first home - not an income from it

serious_saver

LP84 wrote: »

As a FTB involved in a repossession war- I find it quite rude that you think cash buyers should be given priority . We want our first home - not an income from it

I'm not trying to be rude but legally a bank should try to get the best deal possible on a repossessed property. This is because the person who has lost their property is still liable for any difference between the mortgage amount and the sold price of the property.

So if the mortgage as £130,000, and the bank only managed to get £120,000, the original owner would still have to find £10,000+ costs to pay the bank.

There are supposed to be rules in place to ensure that the bank get the best possible deal to stop them from selling off properties unnecessarily cheap and then pursuing the person who has lost their home.

If a cash buyer can offer the same amount then the bank should take that offer because they can proceed faster and therefore incur less costs.

As I said, I'm not trying to be rude but I think you are the one being rude by commenting without reading the thread properly. I am also a first time buyer looking for a home. I have just been very careful with money which is allowing me to proceed in a better situation.