Cash buyer

TheJP

Everyone is a cash buyer just depends on where the cash comes from. I would look at relisting, would other tricks will they play.

Murphybear

Albermarle said:

BungalowBel said:

People use the term 'cash buyer' to mean : I have nothing to sell, so won't be in a chain but might need a mortgage (as mentioned above)
or :  I will be a cash buyer when my house sale has completed (which means they don't have the cash now) - they should use the term 'cash buyer on completion',  don't need a mortgage.
Neither of these are cash buyers.  One is not a cash buyer at all and the other one is not a cash buyer yet.

A cash buyer is one who has the full amount  of cash in the bank, ready and waiting.

Even a 'real' cash buyer is unlikely to have the whole amount just sitting in their bank account for months on end. 
I would think normally they would have to arrange transfers from other accounts in the week before completion, and there could still then be unexpected delays.

Our first house together was in 1996.  We had no property to sell and the house we were buying had a bathroom and proverbial kitchen sink but nothing else . so no chain.  We were cash buyers, he had a fair amount in his bank account, ready and waiting .  One of his bridge partners was a solicitor and she did the conveyancing as quickly as possible for peanuts.  You didn’t have to prove things like where you got the money from back then and the whole was finished in a few weeks.  

He stayed home to do the house up and I got a brilliant job at the local University to keep us.

Those were the days 

Mrp791

propertyrental said:

A 'real' cash buyer has cash in the bank.

Not tied up in either an existing property, or a mortgage application.

This is what I was told was the case

theartfullodger

They might be capable of being cash buyers but later chose to go with a mortgage.

Done that myself..(going on to buy further property...)