Owning your own home

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hugo7
Hive mind question, curiosity rather than advice.
- Mate has just had an offer rejected. 1st time buyer.
- Seller is son selling on behalf of a mum who has moved into a care home.
- Seller accepted a lower offer from a cash buyer.
Is a cash buyer really that much faster over a FTB? I think we're probably talking £10-25k difference.

The accepted offerer apparently took a builder round a couple of times. Which combined with the cash and property type, makes me think a developer. Which in turn makes me think backhanders to the son and EA.

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Howard in reply to @hugo7

Fewer parties involved. Won’t do / care about surveys. Doesn’t have to please a mortgage provider and neither does the buyer’s solicitors. Faster. Might be worth paying £10k for especially if there are care home bills coming

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