are white lies ok?

theGrinch

I understand that it is a probate sale being handled by a distant relative of the deceased and it came onto the market about 3 weeks ago.

I think she is very torn of what to do and I am trying to help her work it through. I tend to think that saying you are applying for a 65% LTV mortgage but you are not dependent on it would be fine.

However, when she called me, she said the EA highlighted the other offer was "cash". She doesnt want to be forced into paying anymore as it is already at the top end and she is growing tired of second guessing the mind games.

AndrewSmith

If it is a probate sale it is likely to drag on for a while anyway thus the fact of being cash or mortgage will have very little impact.

After all they can only work as fast as the probate lawyers and the legal conveyancing process will allow.

theGrinch

danm wrote: »

A cash buyer does not necessarily need these done if they chose not too...which is why EA's like cash buyers.

yes I have heard of this, but usually this is one developer buying a site/building off another developer or where a very quick sale is required at lower than market value. In either case usually an insurance is taken out in lieu of the searches.

I have not heard of this in residential cases at market value. In any case, for an EA to encourage a "cash" buyer on the basis of not undertaking searches or DD is wreckless.

terrierlady

people often come on our development sites and say they are cash, this can mean any of the following, I will have cash once my house is sold, I inherit the money from a will, still in probate, I have stock and shares I need to cash in, I am borrowing the money from my parents, I will be getting a mortgage then paying in cash. Many statements from many people, the information may be good from the agent but how well did they qualify the person. I'm sure the readers on here will come up with many other FORMS of cash!!!!

Flash_2

I am a 'cash buyer' as I sold my house & the money is sitting in the Building Society until I can find somewhere to buy.

When I put in an offer on a property {although it didn't continue} I had to take my Building Society book into the EA to prove the cash was there.

lush_walrus

Well, all I can say is...People take heed, it's not always the EA who tells the lies is it? I bet if the lie goes ahead and the vendor finds out...They will pop onto a forum like this saying my EA has lied to me blah blah blah.

Treat others how you like to be treated is the best way to answer this question...If your friend doesn't mind people lying to her, then tell her to go ahead and tell a lie...If on the other hand she doesn't like lies, then well the answer is there.

She will be found out along the way. It's obvious that if the EA has already had a conversation with her saying they would prefer to take the cash offer and she has said nothing that she isn't a cash buyer!. She will not be viewed very highly by the EA or the vendor when she does get found out.

And for those debaiting the point a cash buyer is not someone without a chain as suggested, but someone who can pay without the requirement for a mortgage.

Only she can decide whether she fancies lying to someone or not to be honest.

theGrinch

I just spoke to an estate agent I know and his opinion is say she is cash. He is lied to so often that so and so is a cash buyer and isnt for one reason or another that he does care anymore.

He said that often when someone lies to him he is too embarrassed to do anything apart from guarantee the whole process is as smooth as possible.

danm

theGrinch wrote: »

I just spoke to an estate agent I know and his opinion is say she is cash. He is lied to so often that so and so is a cash buyer and isnt for one reason or another that he does care anymore.

He said that often when someone lies to him he is too embarrassed to do anything apart from guarantee the whole process is as smooth as possible.

I'm not sure the EA's point of view matters. Ultimately it is the buyer/seller that loses out because people have not been up front from the start (apart from a bit of comm)

If your friend decides not to check peoples ability to front the cash, then more fool him. Although i'm not sure why he would feel embarrassed.

seven-day-weekend

When we bought our Spanish house, we paid for half of it by bank transfer from funds and half of it in euro notes!

That to me is a cash buyer.

benood

The term Cash Buyer can be twisted to mean so many things, even if someone can show bank statements to prove liquidity that can disguise the fact that they will delay and delay because they would prefer to sell and then buy than own two properties simultaneously, indeed this was the case when we were selling my Grandmothers house a few years ago - cash buyers they weren't despite the bank statements.

If I was the OP's colleague I think that I would make that point to the EA and stress that I had nowhere to sell and call myself a cash buyer on that basis!