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what sort of discount is a cash buyer worth?

(5 Posts)
arionater Wed 08-Jun-11 18:00:47

Just what the title says really. A friend is in the enviable position of being able to buy with cash, but she's not originally from this country and hasn't bought in the UK before. I can see having cash and no chain makes you an attractive buyer but how much does or should that translate into a lower offer - anyone have any thoughts?

gettingeasier Wed 08-Jun-11 18:05:54

I was a cash buyer recently and it didnt appear to be of any importance it was being in a small chain that was influential and presumably your friend is chain free too which really helps

Regarding a lower offer I suppose it depends on the area , even in my strong position I had to pay the asking price to get this house

Tuggy Wed 08-Jun-11 18:12:26

I think a lower offer would be appropriate for the reason that there is no chain. There will be some sellers in a rush, and will take that into account.

She may not be able to be too picky with the householders who aren't in a rush but worth a try.

FWIW I just bought a house (yesterday) and got it for a much lower price for being a cash buyer and the seller being DESPERATE for a sale, after 4 years on the market! So everyone was happy.

arionater Wed 08-Jun-11 18:17:44

Thanks. Yes, no chain. Good point that what matters in this situation is really the situation of the seller - so the cash/no chain thing might be a big bargaining chip for someone in a hurry to move; but not make much difference for someone who's not in a hurry.

The house market really confuses me at the moment. It seems really slow in lots of places, but this is north London (zone 2) so I'm not really sure how much the doom and gloom applies there.

Congratulations on your house Tuggy!

tyler80 Wed 08-Jun-11 19:47:28

I think it's worth more to some than to others. It depends how the much the vendors want to sell.

We're just in the process of buying and the fact that we had no chain seemed to be of more value in the current market.

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