PLEASE READ BEFORE POSTING
Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that referencing house prices may be sometimes be pertinent to a user's specific MoneySaving situation, we ask that you please refrain from going off-topic into broad, general debates about the housing market, the economy and politics. Threads that are found to have derailed into wider discussions may be removed. Thank you for your understanding.What is the advantages of a cash buyer?

518 Posts
Have put up house for sale on friday, had someone view monday and an offer quickly followed.
Offer states cash buyer and wants entry for end of this month.
Can anyone advise if there are any advantages to accepting a cash offer, apart from being a very quick sale?
I take it most folk go in with a low offer 1st, then can re-offer if necessary. Also put on market for o/o, but offer is not over, just the figure it was advertised for.
Should we hold out as its only been 2 working days and 1 viewer?
Thanks for comments and advice.
Offer states cash buyer and wants entry for end of this month.
Can anyone advise if there are any advantages to accepting a cash offer, apart from being a very quick sale?
I take it most folk go in with a low offer 1st, then can re-offer if necessary. Also put on market for o/o, but offer is not over, just the figure it was advertised for.
Should we hold out as its only been 2 working days and 1 viewer?
Thanks for comments and advice.
Looking forward to the day I have nothing left to list on eBay
0
This discussion has been closed.
Latest MSE News and Guides
Replies
Cash buyer can buy as soon as the legals/surveys etc are done.
A winner listens, a loser just waits until it is their turn to talk:)
There are still a lot of people around who (whether by accident or design) say they are cash buyers when they aren't at all (ie don't have the money sitting there as cash in their bank account).
It was very fortunate that the EA found him as my original buyer pulled out near exchange so I needed to find another one fast so the people I'm buying from wouldn't get cold feet.
That was the advantage for me, the speed in which my buyer could move (and I don't mean his car).
Did you accept their 1st offer or did you hold out for another offer?
If you want to accept the offer you should get the buyer to qualify his offer by proving he has the funds readily available (i.e. a bank statement) and provide solicitors details.
In the meant time... keep marketing your property.
Some people have very funny ideas of what a cash buyer is. We supposedly had one but it turned out that they could afford to buy our house without a mortgage... only after selling their current house, which only under offer at that stage.