Buying a house with cash

Davesnave

There are some properties where cash is the best option. e.g non-standard construction, agricultural tie and unfinished 'projects,' but these are unlikely to interest you, OP.

I bought an ag-tied property with cash. At the time, a mortgage would have been very difficult, so I was able to do a good deal, getting about £80 - 100k off the typical price for a similar property without the tie.

No one asked me to prove my entitlement to buy. I doubt if they ever will.

yoshiyella

I am in the process of showing people around and cash buyers would have to put in same offers that people with mortgages would have to put in. Go low and I would not deal with you at all. But then we are in a London borough.

homebound

No not 'cash' and i'll have a record of tax paid - all above board!

I wont be buying anywhere near London.

Thanks for the tips! Patience is a virtue, and all that!

McBozo

cash buyer is a slight advantage but no more. I would expect nothing more than a higher preference for selection if lots of folks are interested in a specific property.

ultimately everyone is a cash buyer even with a mortgage!

DreamweaverB

Louise.H wrote: »

Be warned though that the seller may still make it not a very fast transaction

My experiences are the same. Having bought three properties for cash in the last few years all have still taken months to complete due to slow sellers.

Ultimately the seller does not care one jot whether the funds come from you (cash) or a bank (mortgage.) As another poster mentioned, cash buyers are fairly common these days and the only minor benefit to a seller is that there may be one less valuation (the mortgage one) to scupper any deal.

DRP

"Most buyers are cash buyers these days"

Er....really ?

buglawton

Maybe with new builds/off plan you've got some leverage with cash - or at least you can pick a prime plot and reserve it with confidence.