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  • FIRST POST
    • boring1
    • By boring1 5th Mar 18, 9:25 PM
    • 68Posts
    • 29Thanks
    boring1
    Selling to investor
    • #1
    • 5th Mar 18, 9:25 PM
    Selling to investor 5th Mar 18 at 9:25 PM
    Hi
    I have a feeling that somebody is going to make an offer on our house and then rent it out.

    Are there any risks involved in selling to an 'investor' rather than somebody who is actually going to live in the house?

    Any advice greatly appreciated.

    Thanks xx
Page 1
    • Thrugelmir
    • By Thrugelmir 5th Mar 18, 9:33 PM
    • 58,454 Posts
    • 51,828 Thanks
    Thrugelmir
    • #2
    • 5th Mar 18, 9:33 PM
    • #2
    • 5th Mar 18, 9:33 PM
    Ensure the process keeps moving. Don't lose momentum. Investors are prone to be game players.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • boring1
    • By boring1 5th Mar 18, 9:48 PM
    • 68 Posts
    • 29 Thanks
    boring1
    • #3
    • 5th Mar 18, 9:48 PM
    • #3
    • 5th Mar 18, 9:48 PM
    I suppose that is what is worrying me - they are 'professionals' doing this all the time - and know how to play the game. I don't want to be hoodwinked!!
    • buggy_boy
    • By buggy_boy 5th Mar 18, 10:00 PM
    • 403 Posts
    • 268 Thanks
    buggy_boy
    • #4
    • 5th Mar 18, 10:00 PM
    • #4
    • 5th Mar 18, 10:00 PM
    As long as they have the money in place an investor can be a good buyer.. No chain and having done it before can make it smoother. How do you think you are going to be hoodwinked? You presumably will have a solicitor and so will the buyer... So its not like buying a car, there are certain processes that need to go through and your solicitor will protect you from anything suspect.
    • agatham
    • By agatham 6th Mar 18, 11:59 AM
    • 29 Posts
    • 5 Thanks
    agatham
    • #5
    • 6th Mar 18, 11:59 AM
    • #5
    • 6th Mar 18, 11:59 AM
    When you say Investor do you mean "Builder?"
    . Please clarify.
    • DCFC79
    • By DCFC79 6th Mar 18, 12:04 PM
    • 31,606 Posts
    • 19,946 Thanks
    DCFC79
    • #6
    • 6th Mar 18, 12:04 PM
    • #6
    • 6th Mar 18, 12:04 PM
    As long as you get paid, the process isn't delayed then what is there to be concerned about.
    Last edited by DCFC79; 06-03-2018 at 12:08 PM.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • Crashy Time
    • By Crashy Time 6th Mar 18, 12:43 PM
    • 6,061 Posts
    • 2,345 Thanks
    Crashy Time
    • #7
    • 6th Mar 18, 12:43 PM
    • #7
    • 6th Mar 18, 12:43 PM
    Biggest concern now would be them changing their mind


    http://www.propertyindustryeye.com/warning-of-rent-hikes-and-exodus-of-small-private-landlords-as-tax-changes-bite/
    • boring1
    • By boring1 6th Mar 18, 1:13 PM
    • 68 Posts
    • 29 Thanks
    boring1
    • #8
    • 6th Mar 18, 1:13 PM
    • #8
    • 6th Mar 18, 1:13 PM
    When you say Investor do you mean "Builder?"
    . Please clarify.
    Originally posted by agatham

    Well they said they have about 5 properties in the area they rent out - don't really think they are builders per se.
    • phill99
    • By phill99 6th Mar 18, 3:01 PM
    • 8,064 Posts
    • 7,295 Thanks
    phill99
    • #9
    • 6th Mar 18, 3:01 PM
    • #9
    • 6th Mar 18, 3:01 PM
    None at all.


    There money is as good as anybody's
    Eat vegetables and fear no creditors, rather than eat duck and hide.
    • Akahotpot
    • By Akahotpot 6th Mar 18, 5:01 PM
    • 130 Posts
    • 83 Thanks
    Akahotpot
    I agree with with Thrugelmir
    A cash buyer for my house just fell off the radar when it came time to exchange
    I bet he had offered on a few properties and was "playing the game"
    V frustrating
    • boring1
    • By boring1 6th Mar 18, 5:40 PM
    • 68 Posts
    • 29 Thanks
    boring1
    Thank you - the EA said he has dealt with her before so presumably that went smoothly - but who knows!

    Coming back tomorrow for 2nd viewing.
    • JoJo1978
    • By JoJo1978 6th Mar 18, 7:18 PM
    • 344 Posts
    • 424 Thanks
    JoJo1978
    We put our house on the market last year for 12 weeks with viewings from owner occupier prospects but got no offers. We tweaked the marketing, changed agents and dropped the price a little. Within a week we had offers from three investors and the agent generated a bit of competition between them and bid them all up. All had been 'watching' the property since it went on the first time, waiting for a price drop.

    Our chosen buyer, sounds like your prospect did mess us about by dragging feet so we switched to a second. He was overseas so the process took forever but we got there in the end. He'd never seen the property, only his wife had a few months prior. Investors don't care as much about dodgy neighbours, the area's facilities so long as they think it will let. They also may not care about decor, our buyer went in and Magnolia'd and IKEA'd ready for tenants.

    Good luck!
    Hamster in the wheel (London) 1999-2017
    Mortgage free since 2015; Pension pot sorted 2017
    Part-time gigger and charity volunteer 2018
    • Crashy Time
    • By Crashy Time 8th Mar 18, 8:40 PM
    • 6,061 Posts
    • 2,345 Thanks
    Crashy Time
    Well they said they have about 5 properties in the area they rent out - don't really think they are builders per se.
    Originally posted by boring1

    Maybe they built them?
    • hazyjo
    • By hazyjo 8th Mar 18, 11:45 PM
    • 10,512 Posts
    • 13,678 Thanks
    hazyjo
    Some may drop the price before exchange or after survey, but meet them and try to get a feel for them. I sold to one who was perfectly pleasant and did drop a bit after survey but not a lot in the sale of things. He wanted to exchange within 5 weeks - which I prob could have done - but there were so many issues with the legal side of things with my purchase, it took 5 months. Investor buyer was patient. No nagging or threats. Bought a couple of large wardrobes off me and gave me the cash there and then. Perfectly honest and decent.
    2018 wins: Single Malt Whisky; theatre tickets; festival tickets; year of gin(!); shoes
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