At what point can i start to view, (cash buying)

jonnydeppiwish!

Start today. Even as a cash buyer the majority of sales are going to take 3-4 months and that’s without the mandatory 2 weeks off at Christmas that most solicitors seem to take.

You’re in one of the best positions at the best time of year for a buyer. Market is generally very quiet, more reductions, more vendors wanting to sell.

FlorayG

There are three types of cash buyer;
1) has actual cash ready in the bank
2) has no cash but a completely paid for house to sell and is downsizing
3) a mix of 2 and 3
so I would be looking right now and be clear, let the vendor know you will have cash but not until March

theartfullodger

FlorayG said:

There are three types of cash buyer;
1) has actual cash ready in the bank
2) has no cash but a completely paid for house to sell and is downsizing
3) a mix of 2 and 3
so I would be looking right now and be clear, let the vendor know you will have cash but not until March

4th Type.  Has the cash but later decides on a mortgage as then has other plans for £££££..

Happened to me, had the cash to buy another house then changed mind and bought two more houses more slowly.  Vendor can always say F O.

Albermarle

theartfullodger said:

FlorayG said:

There are three types of cash buyer;
1) has actual cash ready in the bank
2) has no cash but a completely paid for house to sell and is downsizing
3) a mix of 2 and 3
so I would be looking right now and be clear, let the vendor know you will have cash but not until March

4th Type.  Has the cash but later decides on a mortgage as then has other plans for £££££..

Happened to me, had the cash to buy another house then changed mind and bought two more houses more slowly.  Vendor can always say F O.

5th type - Claim they have the cash but they do not. 

Although it is often said that EA's are not very truthful, some of their clients are not either.

Bigphil1474

OP, you're offer will only be proceedable if you can satisfy the EA that you have the funds to purchase. A non-proceedable offer is pointless. If you are saying you won't have the funds until March, then no vendor is gonna take their house off the market now on the chance that you have the funds in March. If you start viewing houses now, but can't make a proceedable offer, then you are just wasting your time and their time IMO. Obviously it's worth looking on Right Move, maybe doing a short list etc. but I personally wouldn't physically view properties until a couple of weeks before your funds are gonna be available. 

We put our house up for sale in October last year - we got an offer in the first month of asking price but the guy hadn't even put his property on the market yet. We didn't take our house off the market but said we'd accept the offer when he was sold. We finally got an acceptable offer from someone else in March but we never heard anything again from the first guy.

tealady

theartfullodger said:

Today.

Could exchange & complete in a couple of days.  Some vendors might find a quiche cash purchase very attractive

I would (if it was an M and S cheese and broccoli one! )😁
I'll get my coat!

Albermarle

Bigphil1474 said:

OP, you're offer will only be proceedable if you can satisfy the EA that you have the funds to purchase. A non-proceedable offer is pointless. If you are saying you won't have the funds until March, then no vendor is gonna take their house off the market now on the chance that you have the funds in March. If you start viewing houses now, but can't make a proceedable offer, then you are just wasting your time and their time IMO. Obviously it's worth looking on Right Move, maybe doing a short list etc. but I personally wouldn't physically view properties until a couple of weeks before your funds are gonna be available. 

We put our house up for sale in October last year - we got an offer in the first month of asking price but the guy hadn't even put his property on the market yet. We didn't take our house off the market but said we'd accept the offer when he was sold. We finally got an acceptable offer from someone else in March but we never heard anything again from the first guy.

No harm though in going to have a look at the outside if they see something they like on RightMove, or have a stroll past to see what the neighbourhood is like.

pjs493

I’d start viewing now. By the time you make an offer, do all the searches, enquiries, etc, you’ll likely be looking at March or beyond as a completion date anyway. Be open and upfront about your situation. 

For context, I’m selling a flat that was previously rented out. It has been empty and on the market since September. I’ve had a mixture of viewings from first time buyers able to move fast once an offer is made and people who would have to sell their current property and haven’t even marketed their property yet. 

I’ve had an offer from someone who hasn’t sold their house yet (which I discounted because they aren’t in a proceedable position and suggested they wait until they can proceed to make an offer). Two or three times I’ve had first time buyers torn between my flat and one other and ultimately they made an offer on the other property. If someone viewed, made an offer, and explained they’d be a cash buyer with a completion date in March, I’d accept that offer. 

My flat was almost sold in the summer and the buyer backed out at the 11th hour because they couldn’t get their finances to work. They made me an offer in February and dragged things out for over six months before finally admitting they couldn’t move forward for financial reasons. 

Albermarle

and explained they’d be a cash buyer with a completion date in March, I’d accept that offer. 

Very trusting, consider your recent experience.

My flat was almost sold in the summer and the buyer backed out at the 11th hour because they couldn’t get their finances to work. They made me an offer in February and dragged things out for over six months before finally admitting they couldn’t move forward for financial reasons. 

GDB2222

I'd count someone in the OP's position as proceedable. Of course, the stock market could crash and the share scheme become worthless, but no sale is 100% cast iron.