Buying a house

Romepen

Can anyone please advise how long it takes to buy a house, best case scenario,  please? 

And is worth making a cash offer 30% of the asking price? 

user1977

Romepen said:

And is worth making a cash offer 30% of the asking price? 

Do you mean is anybody likely to give you a 30% discount for a cash purchase? No, they won't.

Or did you mean a 70% discount? Umm, definitely no.

Emmia

It's not worth making an offer in cash for 30%  to the vendor unless it is wildly over priced - most vendors would laugh you out of their house, and you wouldn't be seen as serious. 

30% would be a fair deposit for a mortgage though.

GrumpyDil

Have a look at the OP's posting history. I decided not to reply. 

steve866

Romepen said:

Can anyone please advise how long it takes to buy a house, best case scenario,  please? 

And is worth making a cash offer 30% of the asking price? 

3 months.
Highly unlikely. 

oldernonethewiser

It could take until the 12th of never.

And that's a long long time.

cymruchris

Cash puts you in a much stronger position - why not offer 10 percent of asking? They're sure to look upon you favourably? And if they said yes, I'd expect completion within 5-6 working years.... (You might imagine that I and the other posters replying to your question probably feel that offering 30 percent is going to get you as far as the pavement when the estate agent shows you the door....)

BobT36

^ Depends what the asking is. A good few could do with 50%... 

eddddy

Richard Branson bought Necker Island in the 1970s for 3% of the initial asking price. Maybe that was because he offered cash.

Branson bought the island in 1979 for $180,000 without even knowing where the Virgin Islands were, partly, he has said, “to impress a girl”. It was a drastic reduction on the initial asking price of $6m and in 2006 he estimated that the island was worth $60m (estimates are now considerably more).

Link: https://www.ft.com/content/b89e4d25-6316-4b59-aa55-6a36aab43441

BlueVeranda

eddddy said:

Richard Branson bought Necker Island in the 1970s for 3% of the initial asking price. Maybe that was because he offered cash.

Branson bought the island in 1979 for $180,000 without even knowing where the Virgin Islands were, partly, he has said, “to impress a girl”. It was a drastic reduction on the initial asking price of $6m and in 2006 he estimated that the island was worth $60m (estimates are now considerably more).

Link: https://www.ft.com/content/b89e4d25-6316-4b59-aa55-6a36aab43441

If you don't ask you don't get, I suppose.

Of course if you do ask, but the vendor thinks it's a joke, you don't get either.

theartfullodger

I certainly remember about 20 years ago offering over 20% under the  "offers over" price. Can't recall exact amount, maybe 28%…?

Got the most brutal rude response ever  via estate agent "never been so insulted, will never accept etc etc..".  

I formally and politely thanked them for their response.

A week later repeated exact same offer.  Accepted.  Owned it for 20+ years..

Never say never