Highest bidder, purchase offer refused

lookstraightahead

theartfullodger said:

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.  

I don't disagree that experience is worth a lot but it's very easy to miss a true gem due to generalising too much.

hopefully soon there won't be much choice and vendors don't be able to play lord of the manor.

pieroabcd

lookstraightahead said:

theartfullodger said:

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.  

I don't disagree that experience is worth a lot but it's very easy to miss a true gem due to generalising too much.

Maybe not exactly a "gem", but I agree completely with the idea. Every person is a case for themselves.
It can go well with someone and bad with someone else. It's not a coincdence that in England 1/3 of the sales fall through.

It's so extremely frustrating that the consequence of a reasoning like that is that every month I have to flush my money down the toilet to pay a rent!

theartfullodger

Anyone owning property and selling, unless they inherited or were gifted it, were FTBs once.

Me too.

Slithery

pieroabcd said:

lookstraightahead said:

theartfullodger said:

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.  

I don't disagree that experience is worth a lot but it's very easy to miss a true gem due to generalising too much.

Maybe not exactly a "gem", but I agree completely with the idea. Every person is a case for themselves.
It can go well with someone and bad with someone else. It's not a coincdence that in England 1/3 of the sales fall through.

It's so extremely frustrating that the consequence of a reasoning like that is that every month I have to flush my money down the toilet to pay a rent!

You're not 'flushing your money down the toilet', you're paying for a service that you are recieving - just like the millions of people who lease their vehicle, or go to a restaraunt instead of cooking at home, etc etc...

MattMattMattUK

One reason that a lot of sellers might be avoiding high bidder, mortgage buyers at the moment is that there is a huge increase in down valuations at the moment, which then causes delays, arguments/renegotiations etc. in addition to a cash buyer almost always being quicker anyway. If I were selling I would probably rate in order Cash Buyer > FTB > Chain buyer, anyone in a chain almost always means delays, negotiation about exchange dates etc. where as cash and FTBs are not beholden to a chain and cash buyers do not have a mortgage provider in the process either. 

Flugelhorn

other thing to remember is that  most vendors then become buyers and will be accepting offers on the basis that things will go through smoothly - they may also find that things are tough and they don't want FTBs snapping at their heels

last 3 properties I bought were cash and I deliberately only offered on chain free properties - had enough of the faffing around that goes on with chains.

pieroabcd

Slithery said:

You're not 'flushing your money down the toilet', you're paying for a service that you are recieving - just like the millions of people who lease their vehicle, or go to a restaraunt instead of cooking at home, etc etc...

In my simple mind I'm sending money to someone else and at the end of the contract I will have nothing to sell to get that money back.
With a little more than that I can get a property that I can sell any time (if needed) and I won't be at the mercy of a landlord.

MattMattMattUK

pieroabcd said:

Slithery said:

You're not 'flushing your money down the toilet', you're paying for a service that you are recieving - just like the millions of people who lease their vehicle, or go to a restaraunt instead of cooking at home, etc etc...

In my simple mind I'm sending money to someone else and at the end of the contract I will have nothing to sell to get that money back.
With a little more than that I can get a property that I can sell any time (if needed) and I won't be at the mercy of a landlord.

Alternatively you are getting a roof over your head, with no worries about maintenance costs, that you can leave at the end of a term, or at short notice depending on the contract, without all the hassle and cost of needing to sell to be able to move. There are two sides to everything, there are benefits to renting as there are to buying, there are also negatives to both, your mileage will depend on your specific circumstances and being a homeowner certainly suits me at the moment, but I know people for whom renting works and it is not flushing money down the toilet. 

Scotbot

Slithery said:

Some sellers just don't want to deal with FTB's at all even if their offer is higher.

But there is almost always a first time buyer somewhere in the chain. Unless it's small and  or cheap not many cash buyers, most people don't want to sell, rent then buy. 

pieroabcd

MattMattMattUK said:

Alternatively you are getting a roof over your head, with no worries about maintenance costs, that you can leave at the end of a term, or at short notice depending on the contract, without all the hassle and cost of needing to sell to be able to move. There are two sides to everything, there are benefits to renting as there are to buying, there are also negatives to both, your mileage will depend on your specific circumstances and being a homeowner certainly suits me at the moment, but I know people for whom renting works and it is not flushing money down the toilet. 

sure, but i referred to my rental, not theirs 
For me the anxiety of ownership is absolutely paramount.