FTB - Are we really the dream buyer?

moneyistooshorttomention

Ciderarmy1987 wrote: »

I am a FTB buyer but I think that people do over play how important a FTB is.

I think in reality it makes very little difference (provided that the buyer is proceedable then) Obviously I would imagine that people might prefer a FTB but would they put any price on this. I doubt it very much.

Would anybody actually accept and offer that was even 1K lower than another offer just because they were a FTB? I doubt it very much!

Actually agreed with Ciderarmy.

As long as my buyer is proceedable then it won't make an iota of difference to me what they are.

The price of the house is still exactly the same - whoever it is that buys it.

As far as I can see - the only person who MIGHT get a discount for their status is a genuine cash buyer, and then only if the seller is desperate to sell.

Anyone who expects special concessions because of being an FTB'er is on a hiding to nothing - as they aren't likely to get them - even if they have been brought up in an era where they "should" have something "because you're worth it" (cue the music from that shampoo advert).

OP is to be commended though for deciding for herself how likely an FTB'er is to be accorded "special treatment" - despite all her friends busily telling her she is entitled to it...sounds like an FTB'er who is "aware" enough/honest enough that I might consider her as a buyer.....

Dan-Dan

Tancred wrote: »

A cash buyer who is buying as an investment is always the dream buyer. This is because the house is a cash-cow for him, not a place to live in.

But in return the purchase price will always be lower (substantially on occasion) than a `standard` buyer

So it might be worth becoming part of a chain if you NEED a certain price

tim123456789

Ciderarmy1987 wrote: »

I am a FTB buyer but I think that people do over play how important a FTB is.

I don't see how it is important at all

OK as a FTB they arent going to delay the process by trying to form a chain, but it's only fair to consider that a beneft if you are doing likewise, are you?

but

they often (IME very, very, often) over-estimate what they can afford and then delay the process whilst they scrabble around looking for the extra finance that they need to buy the house that they should never have offered on in the firts place....

and then they back out cos they can't afford it

No, they aren't the ideal buyer at all

tim

mrsmchapman

I personally don't think there is a perfect buyer.

We had a cash buyer, all fell through apparently a week before exchange they had no money and refused to mortgage.

This sale we had two offers of the same amount, a FTb, and a family who had brought in the past. We hose the family which as so far gone good, they aren't nervous and know what to expect. Where as the FTb were very nervous and then started playing games about us leaving our furniture for them, I was worried they would play games later in the process.

I really do think its down to the individual, but mainly if they love the property and consider it their home before completion, they are the better people to choose.

R_P_W

You sound like everything but the dream buyer to me!

pcuk1979

As a fellow first time buyer, I'm surprised at the lack of empathy from some posters.

Everyone was a first time buyer once, and I'm sure you all had the same wobbles and worries when you were.

I certainly don't expect any favours from a vendor, but forgive me if I ask a lot of questions (and ask them again) or start worrying about the 'smallest little thing'. They look and sound damn expensive when you see them on paper and hear them aloud. Especially in today's market.

Perhaps we should start another thread trying to define the perfect vendor.

Ciderarmy1987

moneyistooshorttomention wrote: »

Actually agreed with Ciderarmy.

Interesting.....

Malks

Don’t think is such a thing as the perfect buyer – FTBs as already stated are nervous and threaten to pull out over the smallest thing that a second time buyer wouldn’t even consider was an issue. Some also vastly overestimate what they can afford and then panic as it gets closer to exchange, that they can’t afford it.

Cash buyers – a phrase that in my experience seems to encompass everything from a FTB to someone who hasn’t got a place to sell but still needs a mortgage. A genuine 100% cash sale would be good, but these buyers know that and try to drive a hard bargain.

We have just sold to a no chain - moving out of rented, cash buyer, sounds ideal on paper, yet it hasn’t gone smoothly. Turns out they want a mortgage rather than using cash, so delays whilst they sort that out. They then tried to slow the process down so that the completion was at the end of the month to reduce the chances of them paying an extra month’s rent.

To me the perfect buyer is someone who understands the process, doesn’t try and dictate the terms of the deal and responds efficiently to their solicitor. It doesn’t have to be a no chain, cash buyer, FTB or even serial mover – just someone who doesn’t mess you about.

drummer_666

outdoorcjc wrote: »

I guess this is my point, you do learn to live with these things and realise that they are not a massive issue, but the first time you encounter them on a purchase as big as a house, they seem much more significant and scary then they actually are.

I don't think this has to do with being a FTB buyer or not. I think it has to with personalities.

I was a FTB when I bought last year. I viewed houses on my own, I was 26 then, I didn't find it scary. I bought realistically. People that have bought and sold many times often are still unrealistic.

DRP

Malks wrote: »

To me the perfect buyer is someone who understands the process, doesn’t try and dictate the terms of the deal and responds efficiently to their solicitor. It doesn’t have to be a no chain, cash buyer, FTB or even serial mover – just someone who doesn’t mess you about.

exactamundo!