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  • The whole cash v mortgage thing is meaningless unless the cash sale means the purchaser isn't going to be getting intrusive and time consuming surveys done on the property before purchase, and time is of the essence. Otherwise why would I, as the vendor, give a monkeys toss whether the purchase monies came out of your bank account or whether you were using a mortgage advance?

    Of the properties I have purchased over the past 5 years, I have always made relatively aggressive offers from the outset, but have justified myself in doing so, I.e you want x, but we will need to do y which will cost z. Doing this on the current house saved me 12k when the agent swore blind on the phone that the vendor wouldn't entertain any offers as the house had already been reduced. So if you don't ask you have no chance of getting, but my approach is bargain hard but be prepared to justify why you are offering what you are, otherwise the vendor will just think you are a chancer trying to kick him in the nuts.

  • This might mean nothing but I am on the periphery of maybe 8 or 10 cash sales a year and almost every time the cash buyer gets preference over the mortgage buyer.

    I don't get to find out why that is. I assume it's time related though as the accepted bids tend to be around ~5% below asking price.

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