Cash Housebuyer dragging heals

AdrianC

The ONLY difference between a "cash buyer" and any other is that there's no lender to get cold feet. That doesn't happen that often.

Instead, you've got the fun of waiting for the buyer to release investments.

SandraX

theartfullodger wrote: »

£5 says they come back and say the price has dropped. (tell them it's gone up...)


Start marketing it again... very publicly.

You beat me to it. These cash buyers, or so-called cash buyers as they take loans when dragging their feet in an uncertain market, I'm 999:99% certain they will come back and seek a further reduction. Market the property, take to auction as at times you get more, your choice and ATB:)

moneyistooshorttomention

theartfullodger wrote: »

£5 says they come back and say the price has dropped. (tell them it's gone up...)


Start marketing it again... very publicly.

Agreed:T

But I would be livid I'd been lied to and told they were a cash buyer - when they aren't at all.

The only way they'd still get my house out of me would be if things went exactly acccording to MY plan from here on in.

So I would certainly put my house back on the market immediately (like today) and that might gee them up a bit and there's always the chance too that a more honest buyer might come along for it - at which point you tell Mr Lying Investor where to get off. Personally I'd rather take a more honest buyer/paying me nearer the price I knew it was really worth/having to have a mortgage than this character.

moneyistooshorttomention

ComicGeek wrote: »

Well, that's just taking the p###! Why would anyone think it's acceptable to write on the wall??

Possibly trying to psych OP into thinking "Oh yes it is Lying Investors house" and not having the nerve to stand up for themselves?

fuzzedup

Cheers again for all your replys. I think just sitting tight and see what happens after the xmas break. Theres no chance im going to take a lower offer on the house as the agreed price is lowest i can go. If he tries to play "the big man" ille just cut my loses tell him its going up for auction, at the end of the day they've spent the most on the solicitor and searches and ille just be out on the selling solictor fees. I guess Ive been blinded by the "cash buyer" thinking they've got that cash sitting in there back pocket when in reality they are a business and would need to raise the funds. Anway ille keep you posted with the outcome..
PS- it was a bloody cheek to right the measurements on the walls !!

LandyAndy

fuzzedup wrote: »

Cheers again for all your replys. I think just sitting tight and see what happens after the xmas break. Theres no chance im going to take a lower offer on the house as the agreed price is lowest i can go. If he tries to play "the big man" ille just cut my loses tell him its going up for auction, at the end of the day they've spent the most on the solicitor and searches and ille just be out on the selling solictor fees. I guess Ive been blinded by the "cash buyer" thinking they've got that cash sitting in there back pocket when in reality they are a business and would need to raise the funds. Anway ille keep you posted with the outcome..
PS- it was a bloody cheek to right the measurements on the walls !!

Can you subtly alter them?

AndyTails

AdrianC wrote: »

The ONLY difference between a "cash buyer" and any other is that there's no lender to get cold feet. That doesn't happen that often.

Instead, you've got the fun of waiting for the buyer to release investments.

Nope, not the only difference. The other difference is that a cash buyer isn't dependent on a sale for their funds. See The Property Ombudsman Code of Practice (pdf link) which states in 18d:

Cash Buyer. A ‘cash buyer’ can only be described as such if
they have realisable cash assets, that is:
• the buyer has sufficient cash in the bank, building society
or other investments, which can be realised in a reasonable
time, that is, it will be available by the estimated or
proposed exchange of contracts and completion dates; or
• the buyer has actually sold a property, that has exchanged
contracts and is expected to achieve completion before
exchange on the purchase and the buyer does not require
a mortgage to make up any difference in the purchase
price of the new property.

babyblade41 wrote: »

If it's any consolation there are 2 cash buyers in our chain , my buyer and me (I'm buying an empty house)
10 weeks in and still no exchange due to registering some land on the empty property
Horrid wait, frustrating for both of us but it happens and try not to worry unduly

You're not a cash buyer then. Cash buyers don't have downwards chains.