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Cash Buyer
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Suetunny67
Posts: 1 Newbie
I am in the process of a sale on my house & also in the process of buying a property.
My buyer & myself are both cash buyers.
This is my first time buying a property on my own as I’m now divorced.
What will I need to pay out before the property I am buying is completed ?
& roughly how much as money is very tight until my house is sold.
My buyer & myself are both cash buyers.
This is my first time buying a property on my own as I’m now divorced.
What will I need to pay out before the property I am buying is completed ?
& roughly how much as money is very tight until my house is sold.
0
Comments
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most fees can be paid out of the proceeds of the sale - solicitors, estate agents.
Solicitors may ask for an up front payment to cover things like searches, also removals may ask for a deposit.
All costs though should be factored into your sale / purchase costs.1 -
How can you be a cash buyer in that case?Suetunny67 said:I am in the process of a sale on my house & also in the process of buying a property.
My buyer & myself are both cash buyers.
This is my first time buying a property on my own as I’m now divorced.
What will I need to pay out before the property I am buying is completed ?
& roughly how much as money is very tight until my house is sold.
A cash buyer means they have the money to buy the house in the bank, without having to sell their own property.
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Albermarle said:
How can you be a cash buyer in that case?Suetunny67 said:I am in the process of a sale on my house & also in the process of buying a property.
My buyer & myself are both cash buyers.
This is my first time buying a property on my own as I’m now divorced.
What will I need to pay out before the property I am buying is completed ?
& roughly how much as money is very tight until my house is sold.
A cash buyer means they have the money to buy the house in the bank, without having to sell their own property.Technically a cash buyer just means no mortgage or loan is involved. OP IS a cash buyer but one reliant on a chain where as people often wrongly assume cash buyers are all chain free.To the OP as a cash buyer you probably don't NEED to put any money up until the deposit but you will most likely want extras which cost money such as Searches and Surveys. I was an out right cash buyer and my Searches cost £300 and my Survey £550 (but without a mortgage you can skip these costs if you want). I also had to pay £10 to the EA for anti money laundering checks.0
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