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Idk. I think this was legit and the sellers (sons of a mum going into care) just recognised a spivy developer who'd be a pain.
But yeah we had someone else *offer +£20k more than us for our place, but they are in a chain, so you know if you can get somewhere towards that then I think they'd probably take you over them, etc. etc. *
Which we totally fell for despite not believing it in the slightest.
I'd of thought the same but our mates bought their place (first home) over a cash buyer who was apparently offering more.
That said, anecdotally cash buyers can also be "cash buyers", who end up being a fucking nightmare.