Highest bidder, purchase offer refused

p00hsticks

pieroabcd said:

comeandgo said:

I would be very unlikely to pick a first time buyer.

so first time buyers are banned from buying? 

Not banned, but many sellers prefer people that have been through the buying process before as they tend to be a bit calmer and less jumpy.

comeandgo

pieroabcd said:

comeandgo said:

I would be very unlikely to pick a first time buyer.

so first time buyers are banned from buying? 

No, not banned but I’d prefer not to do business with them.

user1977

pieroabcd said:

comeandgo said:

I would be very unlikely to pick a first time buyer.

so first time buyers are banned from buying? 

Where did anybody say that?

The point is that you can't force anybody to sell to you.

Mutton_Geoff

pieroabcd said:

Even the cash buyer would have to go through the survey and the conveyancing times, so it doesn't really make a huge difference to the seller.

Cash buyers don't need surveys. My last two houses I paid cash and didn't bother with a survey. It's not the timing of these events, it's who is in the driving seat. FTB may be near max LTV limits, the mortgage company may come in with a lower valuation that the FTB either believes and/or is unable to ignore. Surveys are full of excuse clauses that may spook FTBs and gut feeling is they will always be banging on the door for further discounts as they haven't been through the process before.

"FTB with no chain and MIP" is not an attractive proposition to me either. A transaction, eg car, toothpaste or house is almost never anything to do with the price alone but a host of other things to throw into the mix.

newdriver101

pieroabcd said:

The second time the seller hasn't even provided a reason. He never answered any of my messages on Purplebricks.

Not saying there was anything wrong with your questions + nothing particularly wrong with asking questions, but the nature and/or number of questions/messages may also have been a turn-off for the seller esp. if other less inquisitive buyers were available…

pieroabcd

What's the supposed problem with first time buyers?
Not every FTB is the same.

Thrugelmir

pieroabcd said:

Noneforit999 said:

Its not likely to be the time difference in terms of picking a cash buyer, its the lack of lender valuation that is attractive in a market where people are offering above the asking price.

A house is quite literally worth what someone is prepared to offer when they are a cash buyer as their is no lender to satisfy and no risk of a down valuation for the vendor to be concerned about.

The documents that I provided with my offer showed it very clearly, so even a down valuation wouldn't have affected me in any way.

People do have a tendancy to subsequently reduce their offer though. Better to sell to a buyer that is less likely to be playing games and mess you about. 

theartfullodger

pieroabcd said:

What's the supposed problem with first time buyers?
Not every FTB is the same.

Indeed: Not necessarily any problem.  But people flogging off a large asset can be wary & cautious. 

Just as someone who's never worked before isn't necessarily a problem: But employers are naturally often more cautious of hiring them.

On eBay I'm rather more cautious when selling to and buying from a very new user with zero or very little feedback.

If investing ££££ I tend to go with longer establish organisations rather then a company set up 3 minutes earlier.

Sorry, that's reality in a capitalist system.  

onylon

pieroabcd said:

What's the supposed problem with first time buyers?
Not every FTB is the same.

In general FTBs are nervous and more likely to allow a third party eg. A parent to interject late in the process. They are often in a precarious financial position so haggle harder over minor stuff. 

I sold to a FTB last time around and he very much fit the stereotype. Lots of questions and flapping over nothing. Even after completion he complained about a £50 mistake (in our favour) in the apportionment of bills. I had his contact details and offered to bank transfer him the cash but he insisted all communication went through solicitors. I'm not sure what he was trying to do but from his previous behaviour I would guess incompetence rather than malice. He didn't get his £50.

I would prefer a more experienced buyer next time around.

lookstraightahead

Hopefully soon vendors will have little choice and stop being kings of their (perceived) castles.