Which buyer should we go with?

highguyuk

FTB. Easy decision for me.

itzmee

We accepted an offer on our last house from a BTL landlord. He offered over the asking price and told us he was a cash buyer. He seemed very keen, even asking if potential tenants could look around the property before completion. He pulled out a couple of weeks later as it turned out he wasn't a cash buyer - he needed a mortgage, and he had also offered on another property nearby and wanted to go with that one instead. it was just a business transaction to him whereas a FTB will be buying with their hearts, and will appreciate the home.

Also you will be able to reassure your neighbours (if you're so included) who will be occupying the house after you whereas a landlord could put anyone into the property.

onwards&upwards

Are there any major issues with your house that you think might really scare a FTB or will the survey just have the usual cautionary language?

getmore4less

What's the rental potential gross yield with the BTL offer?

warby68

FTB for this one.

Larger BTL investors often have several deals on the go and drop in and out as better properties for them appear. They are much less invested in one particular property.

A bit surprising though that the offers for BTL and OO are as close as they are though.

snilloct1957

Go with the FTB; with three visits and a large deposit, they are already emotionally invested in the property and will turn it into a home. Your neighbours will also benefit from this by having a family next door, not a rental who doesn't care about the property.

george4064

I'd go with the FTB in this case, hands down.

davidmcn

BohemianRhapsody wrote: »

They don't view the house instead relying on the floor plan and their local knowledge.

You sure that at no stage in the process will they view or survey the property? I'd be cautious accepting any offer from someone who hasn't viewed, there's quite a high likelihood that further down the line they'll discover some excuse to chip away at the price (or just walk away).

danlewi2

snilloct1957 wrote: »

Go with the FTB; with three visits and a large deposit, they are already emotionally invested in the property and will turn it into a home. Your neighbours will also benefit from this by having a family next door, not a rental who doesn't care about the property.

Bit of a Generalisation about people renting not caring about property.

I would go with the FTB though.

steampowered

FTB for me.

Perhaps this is unfair, but with professional BTL investors I would be worried that they'd try to "gazunder" at the last minute or be more aggressive in using the survey to knock down the price.