Cash Buyers only!!

jackomdj

My old house became unmortgegable when the mortgage companies started doing mundic tests (concrete cancer) on properties of a certain age in our area.

We eventually sold to a cash buyer who was also a structural engineer, he obviously knew what he was buying and that the house wouldn't fall down.

magicpork

or if it's a off-plan new-build, the contract reassignment usually requires a cash buyer because banks won't lend on these contracts. This happens a lot in London..

lisyloo

I was looking at a flat recently with an 18 year lease. I understand that means you have no right to live here after 18 years.
These properties are unmortgageable.
If the discount is big enough it MAY be worth it for a cash buyer, BUT you have to bear in mind that the next person needs to be a cash buyer so you make your potential market a lot smaller.

The biggest downside I see is reducing the market of buyers.
Of course if anything is the right price then it might be worth it.
The flat I was looking at it was not IMO priced low enough.