has anyone ever had a cash buyer pay what they agreed to?

andthethreebears

I am currently a cash buyer and sellers are being no more positive to me than to any other offers.
I have a budget - making offers within the budget and am good to go - but sellers seem wary.
Are you one of them OP?!

Jenniefour

I've sold to a cash buyer - he paid price agreed at outset and completed in six weeks. Very straightforward and the least problematic sale ever for me.

Also bought twice as a cash buyer and paid price agreed at outset.

Last minute lower offers are more to do with those who have no qualms about putting a vendor in an awkward position when it might be/seem harder for the vendor to start again. And has very little to do with whether it involves a cash buyer.

cloo

Thanks for feedback. We're not necessarily rejecting on grounds of cash, more it may not be enough to get us the property we want. We had got almost all the way to exchange point with the place we wanted to buy (chain free) when our buyers (ftb as it happens) pulled out and left us with minimal information on why.

House we were buying had been threatening us to hurry up with a cash buyer in wings - they took over. And just before Xmas, I assume on point of exchange, demanded a massive discount, do house may be back on if we can get a decent offer asap. But obviously vendors may now be wary of cash buyers in the chain.

phoebe1989seb

We also sold to a cash buyer (£600k approx) who completed in six weeks without lowering their offer or doing a survey. This was a Victorian house and their view was that as old houses were bound to have issues there was little point in bothering with surveys.....an opinion we tend to share, having not bothered on our last three purchases - we're fairly experienced renovators and, having checked out the house ourselves and made an offer accordingly, we would prefer not to enter into games over the agreed price

During our last sale and purchase our buyer (who was selling to a FTB) suddenly received a lower offer at the eleventh hour - nothing to do with the survey/valuation - which we believe was purely based on the knowledge that she had our buyer by the short and curlies, knowing how keen they were not to lose our house. Our buyer agreed to accept £10k less and - very honourably - opted not to pass this along the chain to us, instead increasing their borrowing to cover it.

Some FTBs can be a total PITA imho - DS also had issues with one when selling his first property last year - it seems that some don't understand that older properties are not like new builds and will try to beat the price down at every opportunity

cloo

Yeah, our former buyers made vague noises about 'too much on the survey', well yeah, it's a maisonette in a 100 year old house. I do wish people would just talk to their surveyors, as if you ask 'Are you telling me not to buy this place/I must deal with all this stuff right now?', 99.9% of the time, the answer is 'No, not at all'.

I must say, my husband took fright at the survey on the house we're wanting and I had that chat with the surveyor who basically said that it is a good house, but certain aspects need work, some sooner rather than later.

BeansOnToast_2

Well in August, my partner and I were cash buyers, my buyer was a cash buyer, and my partner's buyer was a cash buyer. We all stuck to the originally agreed prices.

So there's 3 out of 3 for you.

My buyer didn't even bother with a survey.

Davesnave

We were unencumbered cash buyers who could offer the vendor a sale within her time frame.

The price she set allowed for this without any funny business.

Sometimes, vendors and buyers can be both moral and sensible!

Alchemilla

I would just say there are cash buyers and then there are people who claim to be cash buyers and then later claim to have issues getting the money together...

AdrianC

Alchemilla wrote: »

I would just say there are cash buyers and then there are people who claim to be cash buyers and then later claim to have issues getting the money together...

Yes, my mother's dealing with One Of Them at the moment.

cloo

Thanks, I'm aware of the issue of people not really being cash buyers. This guy apparently owns a bunch of property locally, mostly commercial. He's talking about buying with cash and mortgaging later, and is apparently buying for his sister, who lives in a house nearby but wants to downsize.

The 'ready, willing and able' clause is on our contract, and that could be an issue if we take this route. Despite the fact that we have the proceeds of two properties to put into this (making a deposit of around 70%) , good earnings between us, our lenders haven't been that generous, so we don't have the option of borrowing more if our offer drops, so I don't know if it counts as us 'pulling out' if we say we can't proceed on account of that.