Cash Buyer

Dan-Dan

Is there any reason a cash buyer , would need a valuation on a house , other than by a valuation surveyor booked by themselves ?

The reason i ask , is because our chain is ready to exchange contracts , and the only thing holding it up is our buyers are waiting for their house to be valued by their buyer (a company) in our buyers words , and in our solicitors words the whole chain is held up waiting for a mortage offer

This doesnt sound like a cash buyer to me but then what do i know...

Something smells fishy!

Cheers

Dave_the_Ginger_Cat

If it's a cash buyer, they need to satisfy themselves it's in good order and worth the cash. If it's a firm they may have other requirements, depends on the nature of the firm - they may wish to have a survey combined with architects if they want to make changes.

Either it's a cash buyer, or someone has made a mistake, or someone has over-optimistically described someone's status to try and keep the chain intact.

Ask your sols for more details if it's causing distress

dotdash79

If it's a company that's buying the house then they need to be sure that the price they are paying matches the value, it's basic due diligence.

Dan-Dan

The only term that worries us , is our solicitor has spoeken to the other solicitors in the chain , and us , and his words are that the hold up is the awaiting of a mortgage offer, still i spoke to him this morning , he believes that its dave the gingers cats third option that is likely here

But then why get this far , where there are no enquiries to answer anywhere in the chain , all searches done etc and the valuation last?

Dan-Dan

Well , you dont know if you dont ask , Estate Agent confirms our buyers buyer defintly requires some sort of mortgage

Dave_the_Ginger_Cat

Buyers can be overly optimistic about their stories to seem more appealing - sad fact of life...

Dan-Dan

and the EA are more than willing to play along , we are finding downwards and upwards