How valuable is no chain?

G_M

'cash buyer' means whatever the speaker intends it to mean, so unless you ask you may misunderstand.

I am 110% sure that is the case (though note, I am not 120% sure, so I may be wrong).

eddddy

PokerPlayer111 wrote: »

Both offering 250k the cash buyer will win all day long unless exceptional circumstances. 1 estate agent told me they value cash buyer @ around 2.5% greater on average when i pushed them for a exact figure - thats the average though please consider all situations are different. Bare in mind the estate agent at the time was trying to talk my offer up and devalue my cash buying position as much as possible so for them to admit 2.5% was a result, might be higher % on average.

I think that might just be an EA making stuff up to try to make you offer more.

It's the vendor that decides what offer to accept - and, as above, I'm not sure that all/many would 'throw away' a few thousand pounds by accepting a lower offer from a cash buyer.

PokerPlayer111

Person with nothing to sell who can exchange at sellers convenience + has money sat waiting + give seller no reason to doubt their commitment is the best type of buyer and will beat any other type of buyer alll day long.

Seller can even ask for a holding deposit if they want a token of financial commitment.

^ is that fair ?

No way any other type of buyer beats that unless exceptional circumstances + this position does has to have some £ value objectively - whether is does practically in many circumstances is dependant on situation.

PokerPlayer111

eddddy wrote: »

I think that might just be an EA making stuff up to try to make you offer more.

It's the vendor that decides what offer to accept - and, as above, I'm not sure that all/many would 'throw away' a few thousand pounds by accepting a lower offer from a cash buyer.

Maybe they were making up stuff, dont know for sure. But has to have some extra value on average.

AnotherJoe

PokerPlayer111 wrote: »

Person with nothing to sell who can exchange at sellers convenience + (now theres an assumption, they may wish to push for a quick completion or have reasosn for delaying) has money sat waiting + give seller no reason to doubt their commitment (they may give no reason but seller may still have doubts) is the best type of buyer and will beat any other type of buyer all day long. What about the young couple with the cute baby who will look after the cherished house rather than the property developer looking to stick some tenants in? Or the nice young couple trying their best to get a mortgage rather than the cocky so-and-so who looked very smug having the money to hand?

Seller can even ask for a holding deposit if they want a token of financial commitment. Dodgy. Maybe now the cash buyer wonder why. Has it got knotweed

^ is that fair ?

No way any other type of buyer beats that unless exceptional circumstances + this position does has to have some £ value objectively - whether is does practically in many circumstances is dependant on situation.

Exactly. Theres money but there's also sentiment and feelings.

PokerPlayer111

AnotherJoe wrote: »

Exactly. Theres money but there's also sentiment and feelings.

For me...

Putting in offer wrapped with a sob story i find manipulative.

Or a seller chosing a buyer based on a sob story or emotive reason... i feel like they wanting a power trip if so. If someone has a geniune need im all for chairty but this is a house trade. Many desperate people needing help wont be found buying houses ?

But hey i get your point, recently i put in an offer with an xfactor sob story of.... the house is going to be for a family member who needs it - which is very likely true but its purely a tactic by saying it with offer, feels dirty but if everyone else is going around doing that kinda thing i guess you have to compete.

Lauralou79

Our lower offer accepted over higher offers as we were chain free. Our vendors were keen to move quickly and out position obviously was worth more than a couple of extra thousand on the price.

Margot123

Just made a cash offer on a property that has been taking ages to sell.
I spoke with the vendor directly; their response was 'it makes no difference to me as my solicitor is slow and I haven't found anywhere else yet'.

So, all down to the individuals concerned. The old saying 'if you don't ask, you'll never know' comes to mind though................

agatham

Buyers with no chain doesn't have much bargaining power. It depends upon the sellers circumstance. If the seller is desperate to sell a property, then the no-chain buyer has an advantage.

victoriavictorious

Penitent wrote: »

They can ask, but I'd be withdrawing my offer at that point as I find it a thoroughly bizarre request. My "token of financial commitment" is instructing my pre-arrranged solicitor and shelling out for searches.

Exactly. This kind of agreement needs to be advantageous to both parties; this is one-sided entirely in the seller's favour. Where is the benefit for the buyer? In such a scenario, the seller surely should likewise be laying the same amount of dosh on the table in case they decide to pull the plug or do a bit of last-minute gazumping!