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Cash buyers ruining it for everyone
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A cash buyer may have put an offer in on the property but the estate agent could still be waiting for the buyer to provide their proof of funds or their solicitor choice. Possibly the vendor has said they won't take it off the market until any forward booked viewings go ahead or until the buyer has applied for searches.o_johnston said:
So why not adjust the asking price to 260 on the site?AdrianC said:How somebody is funding a property is irrelevant. It's all about the willingness to pay the price...
The EA isn't. The vendor is.o_johnston said:If 250 is the asking price, why the hell is the EA keeping it on the market if there's an offer of 260?!
Maybe it's as simple as they're hoping for more...?
When you're a first-time buyer you can feel at a disadvantage but if you've got your AIP and your actively viewing something will come up and your position of being without a chain will stand you in good stead.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.4 -
The first house we were interested in was a divorcing couple and we only found out once we got to 225k and had sent them a letter saying what a lovely family home (desperation after reading advice online). Never felt so awkward in my life...GDB2222 said:
Yes, as soon as I hear there’s a divorcing couple involved, I lose interest. It’s bound to be grief.Angela_D_3 said:
It’s not always that simple. My stupid ex put ours on for £5,000 less than I was going to accept so the poor estate agents had to explain that to everyone viewing. It Was awkwardo_johnston said:
So why not adjust the asking price to 260 on the site?AdrianC said:How somebody is funding a property is irrelevant. It's all about the willingness to pay the price...
The EA isn't. The vendor is.o_johnston said:If 250 is the asking price, why the hell is the EA keeping it on the market if there's an offer of 260?!
Maybe it's as simple as they're hoping for more...?0 -
Totally agree with you thereGDB2222 said:
Yes, as soon as I hear there’s a divorcing couple involved, I lose interest. It’s bound to be grief.Angela_D_3 said:
It’s not always that simple. My stupid ex put ours on for £5,000 less than I was going to accept so the poor estate agents had to explain that to everyone viewing. It Was awkwardo_johnston said:
So why not adjust the asking price to 260 on the site?AdrianC said:How somebody is funding a property is irrelevant. It's all about the willingness to pay the price...
The EA isn't. The vendor is.o_johnston said:If 250 is the asking price, why the hell is the EA keeping it on the market if there's an offer of 260?!
Maybe it's as simple as they're hoping for more...?0 -
Cash buyer ruining it for everyone? Hardly. In some any cases you will get away with a slightly lower offer as a cash buyer as you are in abetter position to proceed. The reality is that you are being out bid by buyers that are willing to may more for the property than you are. Nothing more than that.4
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It's less the cash buyers, it's the selling process and, basically, capitalism being divorced from morality.1
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<shrug> Does it matter?o_johnston said:
So why not adjust the asking price to 260 on the site?AdrianC said:How somebody is funding a property is irrelevant. It's all about the willingness to pay the price...
The EA isn't. The vendor is.o_johnston said:If 250 is the asking price, why the hell is the EA keeping it on the market if there's an offer of 260?!
Maybe it's as simple as they're hoping for more...?
You know it's going to go for more than you want to pay. Your offer has been refused, and you don't want to up it.
The rest is irrelevant.2 -
Even if they go to Relate and make up. That was what happened with the first house we tried to buy for the last move. Pulled from the market, and from Rightmove sold data, it stayed with them for another 6 or 7 years.GDB2222 said:
Yes, as soon as I hear there’s a divorcing couple involved, I lose interest. It’s bound to be grief.Angela_D_3 said:
It’s not always that simple. My stupid ex put ours on for £5,000 less than I was going to accept so the poor estate agents had to explain that to everyone viewing. It Was awkwardo_johnston said:
So why not adjust the asking price to 260 on the site?AdrianC said:How somebody is funding a property is irrelevant. It's all about the willingness to pay the price...
The EA isn't. The vendor is.o_johnston said:If 250 is the asking price, why the hell is the EA keeping it on the market if there's an offer of 260?!
Maybe it's as simple as they're hoping for more...?Edit: Just remembered, this house was also owned by a divorcing couple, but no one let on for a considerable time. One of the parties was detained at Her Majesty's pleasure, so we wondered why we hadn't seen them. They weren't a lot of bother anyway!1 -
Nothing wrong with that, just in my experience so far of really wanting 2 houses, they've both been inflated over and above the asking price by cash buyers, which gives 0 chance of out bidding since they have the cash to just get a mortgage if they really want to beat you, then the risk of the bank valuing the house much lower which = higher deposit or higher LTV.MEM62 said:Cash buyer ruining it for everyone? Hardly. In some any cases you will get away with a slightly lower offer as a cash buyer as you are in abetter position to proceed. The reality is that you are being out bid by buyers that are willing to may more for the property than you are. Nothing more than that.
Plus Belfast has a LOT of people buying property just to rent it out, so it keeps renters renting whilst the rich people inflate the market. My current house was for sale when I wanted it 4 years ago, then I got outbid and then the seller rented it to me because I liked it so much.0 -
When I was selling the EA called people with a mortgage cash buyers too - they were getting the cash by selling their houses. I'm a cash already in the bank buyer as I sold and went into rented. I didn't have any advantage over the other bidders on my prospective purchase, I just saw it first and was asked to offer more to secure it.£216 saved 24 October 20142
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They aren't ruining it for the sellers, are they? It seems that by "everybody," you really mean "you."6
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