ITT: We discuss and compile the traits of a "serious buyer"

MobileSaver

LondonLeigh said:

- Asked EA to call me weekly when waiting for mortgage (i.e. nothing we could do)

A really serious buyer doesn't need a mortgage.

LondonLeigh said:

- Asked EA to pressurise us into undertaking searches before we'd reached our mortgage decision

A serious buyer would know their mortgage approval was just a formality and would be undertaking searches from day one.

LondonLeigh

MobileSaver said:

LondonLeigh said:

- Asked EA to call me weekly when waiting for mortgage (i.e. nothing we could do)

A really serious buyer doesn't need a mortgage.

LondonLeigh said:

- Asked EA to pressurise us into undertaking searches before we'd reached our mortgage decision

A serious buyer would know their mortgage approval was just a formality and would be undertaking searches from day one.

I'd bet my entire business that the % of FTBuyers buying with cash is less than 1%. 

Your second point isn't true either. The EA, while pestering me weekly, informed me that most people she worked with wait until after, especially in this climate. 

Jog on fella.

Ath_Wat

A "serious buyer", obviously, is one who answers an advert that says "serious buyers only".  A frivolous buyer wouldn't.

Just like the only way to make sure people don't waste your time when you sell a car is to put "no timewasters".  In both cases people who are not absolutely committed to buy will say "Oh, well, best not waste this guy's time then, I was going to but he doesn't want me to".

Ath_Wat

Or alternatively it's the old

1.  I ......am a serious buyer
2.  YOU ......are not committed
3.  HE .....is a timewasting *~#!

london21

LondonLeigh said:

In another thread, someone mentioned the concept of a "serious buyer". What exactly does this mean?

It would be good if we could agree on 10-15 traits, and then maybe it could become a sticky post so that future buyers can check themselves against the list. Then they could possibly show their seller and confirm that they are indeed "serious buyers".

Feels like a self-help 15 lists lol.

It is a case-by-case basis, could have someone who is a first-time buyer, with large cash deposit, not in a chain and even they can have cold feet and pull out before exchange. 

There is a lot of uncertainty at present. 

The agents sometimes do checks such as proof of funds/deposit, Agreement in principle etc but even that does not guarantee 100% success. 

MobileSaver

LondonLeigh said:

MobileSaver said:

LondonLeigh said:

- Asked EA to call me weekly when waiting for mortgage (i.e. nothing we could do)

A really serious buyer doesn't need a mortgage.

LondonLeigh said:

- Asked EA to pressurise us into undertaking searches before we'd reached our mortgage decision

A serious buyer would know their mortgage approval was just a formality and would be undertaking searches from day one.

I'd bet my entire business that the % of FTBuyers buying with cash is less than 1%.

I thought the question was "what is a serious buyer", what does that have to do with FTBuyers?

LondonLeigh said:

Your second point isn't true either. The EA, while pestering me weekly, informed me that most people she worked with wait until after, especially in this climate.

Well why didn't you say that earlier? If the EA said it then it must be true! LOL

babyblade41

I think you are being a little misguided through this whole process.  
Have you actually spoken to your surveyor , what did he say about a particular area that needs another look .

Most tradesman these days will take a look but you will have to pay them to do it. Dodgy Dave  who let your sellers down maybe not the right person to be looking.

Ask your solicitor to enquire with their solicitor at the enquiries .EA"can and often do muddy the waters ,At this stage then it really should be left to the legals to help with due diligence 

Ask for a 2nd viewing 

[Deleted User]

The most serious buyer may not be the highest bidder.

jimbog

theartfullodger said:

Loads of cash, nothing to sell, can move in tomorrow, bribes estate agents.  Amongst other characteristics 

^^ this is definitely not a serious buyer. Sounds like a property developer with no emotional attachment to the property and may well gazunder at the last minute being happy to walk away 

jimbog

LondonLeigh said:

Sellers position:
- Awaiting response from solicitor
- Asked EA to call me weekly when waiting for mortgage (i.e. nothing we could do)
- Asked EA to pressurise us into undertaking searches before we'd reached our mortgage decision

Did the EA tell you this? You do realise that they may be telling porkies?