Are FTB, chain free the most attractive buyer?

Housebuy12345

I’m a FTB and chain free. My deposit is around 16-20% of house purchase cost and I’ve got a mortgage in principle.

[Deleted User]

Chain free is attractive, FTB perhaps not so much.

The most attractive buyer is cash only, chain free, pleasant to deal with and happy to pay well over the odds.

AnotherJoe

To some yes, to others no because they will raise all sorts of ridiculous issues, take alarm at irrelevancies in the survey report, insist on all sorts of additional surveys and may take fright at the whole concept of house ownership and back out last minute.
Same thing for cash buyers, some think great, no chain, others think, not locked in by needing to sell, may pull out or gazunder last minute.
So, in summary, don't think you can offer £20k less than everyone else.

ognum

Housebuy12345 wrote: »

I’m a FTB and chain free. My deposit is around 16-20% of house purchase cost and I’ve got a mortgage in principle.

I think that any chain free buyer is probably the most attractive. First time buyers definitely not.

First time buyers are frequently a bit skittish, they get spooked by small issues. Lack of experience of the process makes them less easy to deal with.

Many have also read the books on buying and have fixed ideas about offers, they believe they are the most attractive and that sometimes makes them feel they have the upper hand.

goodwithsaving

I agree. FTBs are a pain in the backside, expecting many things they shouldn't and freaking out at the most minor "issues", and also never understand what it's like to both buy AND be selling a house at the same time.

Chainfree is beneficial though

babyblade41

I'd dread a FTB or probably 2nd buyer.. surveys seem to throw the same things up constantly...unless they were builders in which case they would happily dismiss most things as an afternoons work

1st time commitment is scary and we see it many times where the "so called problems" on one of those report thing's that have numbers on the side result in abject fear causing delay after delay and sometimes refusal to complete.

I like buyers like me.. I walk in and know from the start if it's for me or not, then look at every aspect mentally knowing how it can be fixed/ altered/repaired/removed.

Instruct the solicitors and get the job done

quantumlobster

All else being equal, experienced cash buyers are the best.

Simby

As a first time buyer I bought a house and land package when I lived in Aus, I took the view that my job was to make the progress payments ASAP I asked no questions made no site visits, sent the paperwork to the bank within an hour each time of receiving the progress request, followed up ensured the bank deposited promptly, chose my colours kitchen etc quickly ( one hour appointment). When we moved in and had the snagging list they did some extra for us as they said we were the easiest clients they had in our group of 6 houses, and they wished everyone was like that ( painted the step which wasn’t an omission on their part) filled and painted ceiling where we had removed some of the standard light fittings when we got down lights put in . I am good friends now with the lady who managed the process at the builder ( be nice not trouble and you will get good service)

Several years later I sold and moved home, happily I was in a position of 2nd time purchaser no chain cash buyer by buying a smaller house, my seller had already had a buyer pull out, And their house was empty, I offered full asking and completed within 2 weeks of getting the contracts, the big wait was the solicitor for my seller actually getting the title deeds from the bank and getting the contract drawn up. I was no trouble and did not raise any points from the survey as they were only costed at 5k and expected on a 15 year old house.

But I was careful not to offer on something in a chain where I could be held up waiting for my seller to complete on something , I avoided anything that might have any type of title boundary planning issues ( so nothing in the countryside, nothing with an extension or modifications etc..). My seller had all the original documents and manuals etc., from when the house was built so it was an easy process. Plus being a cash buyer my solicitor was only working for me and not restricted by what a bank wanted.

Not all first time or second time buyers are trouble.