Seller saying she would rather sell to first time buyer than investor - true?

giddyG2001

Hello all,

I saw a house today that is pretty much at the top end of my budget that I really liked and am considering putting in an offer. I was shown around by the owner and she said that although they have had two investors look at it, she would rather sell to a first time buyer as they seemed a tad greedy! It was actually an investment property for herself which seems a bit odd of her to say!

I told her I may be interested but that as it was at the top end of my budget, I would not be able to go over the asking price that much (maybe a stupid move of me, but I thought there was no point in lying) and she said that she would rather sell to a first time buyer even if it meant getting less than they might get for it.

How much stock should I hold in this? She seemed pretty genuine and I would love to put in an offer if it would be seriously considered as opposed to gazumped by an investor who could offer more.

Has anyone had experience of this either as a first time buyer or selling to one?

Many thanks in advance.

Typhoon2000

Any investor will be looking to pay as little as possible but someone buying a home will likely form an attachment to a house and pay rather more.

ThemeOne

There's no knowing whether she's genuine or not, and it doesn't really matter. If you're interested in the property, put in an offer and she'll either accept or reject it.

marksoton

giddyG2001 wrote: »

How much stock should I hold in this? She seemed pretty genuine and I would love to put in an offer if it would be seriously considered as opposed to gazumped by an investor who could offer more.

None, until you've exchanged.

But until you put in an offer you'll not start the process to find out!

Lungboy

People like that do exist. The house we just bought was similar, we were up against a developer and the vendor chose us as we were a family that wanted to live in the house rather than flip it for a profit.

ACG

I can believe it is true.
I remember I went to buy a house about 2-3 years ago and the lady selling was a little old lady who had an offer from an invester and me. She believed (because I was 26) that I wanted it as my first home and wanted someone to get the same enjoyment from it that she had.

I was actually going to buy it as a BTL but did not have the heart to tell her it was as a BTL. In the end I did not buy it but she would rather have taken a grand or 2 less from a FTBer than a developer.

Likewise you have people who prefer developers as they are more likely to either be cash buyers or know the process inside out and complete much quicker.