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How to tell if cash buyer or not
F37A
Posts: 335 Forumite
Hi
How do you tell if previous buyer of property was a cash buyer or not?
Thanks
How do you tell if previous buyer of property was a cash buyer or not?
Thanks
0
Comments
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Wait it could just be LR.0
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The LR will tell you whether or not they currently have a mortgage. It won't necessarily tell you whether they bought with a mortgage - though I'm not sure why that would be a concern?0
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Yes so the latter whether they bought with a mortgage is of interest. More info the better. In fact it shifts the probabilities in one direction for me on a particular transaction.user1977 said:The LR will tell you whether or not they currently have a mortgage. It won't necessarily tell you whether they bought with a mortgage - though I'm not sure why that would be a concern?0 -
Why does it matter how they paid for the house previously? It wouldn't have any bearing on the value or give you leverage.F37A said:
Yes so the latter whether they bought with a mortgage is of interest. More info the better. In fact it shifts the probabilities in one direction for me on a particular transaction.user1977 said:The LR will tell you whether or not they currently have a mortgage. It won't necessarily tell you whether they bought with a mortgage - though I'm not sure why that would be a concern?1 -
“Is of interest” to what end? Just because they got a mortgage doesn’t mean you’ll get one. And just because the house was mortgageable when they bought it doesn’t mean it still is.Yes so the latter whether they bought with a mortgage is of interest. More info the better. In fact it shifts the probabilities in one direction for me on a particular transaction.Honesty is the best poverty.1
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