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Can estate agents refuse to let you purchase a property unless you have a mortgage?
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And those requiring mortgages are often refused or offered less.Bacon_Sandwich wrote: »Maybe the vendors have had a previous bad experience with a cash buyer, and have instructed the agent not to pass on offers from cash buyers? As mentioned above, cash buyers can often be unscrupulous, or not have the liquidity they claim.
If this is the case, I really think the vendor should think about auctioning LOL. Not sure who they want to sell to. There is always risk.2024 wins: *must start comping again!*0 -
Cash buyer often equates to [STRIKE]buy to let landlord[/STRIKE] investor and there is the perception that they're more likely to attempt a last minute gazunder than someone buying a property as a home owner. An offer well above the asking price would only serve to heighten this suspicion.0
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I would have been out of the property market straight away then.. I always pay cash but then moving home has been a little hobbyistNaughtiusMaximus wrote: »Cash buyer often equates to [STRIKE]buy to let landlord[/STRIKE] investor and there is the perception that they're more likely to attempt a last minute gazunder than someone buying a property as a home owner. An offer well above the asking price would only serve to heighten this suspicion.0 -
That sounded really awful... I'm just saying I not always have to sell to buy but I'm a serial mover0
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Could be the case the the vendor wants the property to go to an owner occupier rather than an investor. Entirely legal.
Could be that the estate agents are desperate to earn more fees through their broker services. In that case contact the vendor directly.Changing the world, one sarcastic comment at a time.0 -
It sounds to me as though the OP is being pushed towards the EA's mortgage services.Make £2026 in 2026
Prolific £177.46, TCB £10.90, Everup £27.79, Roadkill £1.17
Total £217.32 10.7%Make £2025 in 2025 Total £2241.23/£2025 110.7%
Prolific £1062.50, Octopoints £6.64, TCB £492.05, Tesco Clubcard challenges £89.90, Misc Sales £321, Airtime £70, Shopmium £53.06, Everup £106.08, Zopa CB £30, Misc survey £10
Make £2024 in 2024 Total £1410/£2024 70%Make £2023 in 2023 Total: £2606.33/£2023 128.8%0 -
I'd agree with Slinky's conclusion.
And contrary to some of the 'Doubting Thomas' posts it is perfectly possible to be a genuine cash buyer who will be an owner occupier, because that's exactly what I was when I bought my current house, having sold my previous one 15 months earlier, banked the proceeds, and rented in between.0 -
Cash buyer property developer here. Both myself and my brother do same, we have never reduced an offer before completion, sometimes you have to show proof of funds to the EA, sometimes you don't.
We have once had a property where vendor didn't want to sell to a developer or landlord. Up to them. EA's are legally obliged to pass on all offers to vendors unless the vendor has specified something that precludes them.Mr Generous - Landlord for more than 10 years. Generous? - Possibly but sarcastic more likely.0 -
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Everyone is a cash buyer people don't accept anything else for their properties(in most cases).
If the vendor want someone with a mortgage go through the motions till exchange then don't bother with the mortgage.
The vendor will likely never know unless their convayancer ask yours.0
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