Cash buyer

[badgerread]

My property has been on the market for 24hrs. Viewing today. Cash buyer. Apparently. Seems interested and asked whether I'd accept an offer. I said no as is only been on the market 24hrs. He said for cash though. I said depends what the offer is...

Property is a 4 bed terrace. South East. On at £350k..

WWYD?

I would want to know more about circumstances. Cash doesn't necessarily mean problem free. Depends how quickly you want to move versus getting the best price.

You need to sure it is really cash in the bank, some people lie about this. Your agent can check.

Cash in the bank and no place to sell? As opposed to no mortgage but property to sell.

Cash in the bank and nothing to sell. British couple living in the UAE about to retire. My agent will get proof of funds. I can move in with parents until I find somewhere if required?

He's called the agent and offered £10k below asking.

I've seen a property I like which is probate so no chain there either..

Where is this property? There are places in the SE where the market is rising, others where it's falling. And do you need an asking price offer?

I do really and I think as it's only been on for 24hrs I don't think it's unreasonable? I'm in a part of West Sussex where apparently the market is 'slow'?

I'm in West Sussex , the market isn't fast but still moving . I'm on a new build estate and they are selling but not within days . I sold my previous house the first day but stuck to asking price even though they were in rented because it was worth it and I knew it would sell for the asking price at some point .

Another West Sussexer here (waves). If you haven't found your dream property and aren't in a huge rush to move I would hold your nerve. If they are that interested they will counter offer. Definately give it a few weeks before going back to them.

If a genuine buyer I'd take 10k less. I accepted a cash offer, 4.5 months later they pulled out when they couldn't get a mortgage!! Go figure 🤷‍♀️

Accept the offer. On a £350k house a £10k reduction is nothing.

I'm approaching week 5 with a cash buyer who hasn't instructed a solicitor yet !

I'd go back and ask to split the difference so 5k off asking!

I'd also split the difference and see if they'll do a £5K reduction

Waves back to lady Penelope !

Waves to Jessie and Penelope! (And thank you everyone else!) My thinking was suggest £345k and wait for me to find or £350k and I can move out? I paid £216,500 5 years ago so if he is genuine quite fancy snapping his hand off! 😂😂😂

I'd say 5k and an agreed timeline for completion

Good plan !

with an offer like that, the buyer is serious, and wants to buy quickly.

It's a good offer, I'd take it
£340 on a £350 asking isn't cheeky at all for a cash buyer
It's only 3% below asking

I bought and sold a year ago and ended up very weary of that talk of cash buyers. I had about 3 offers from cash buyers who went on to withdraw. And I was (falsely) represented as a cash buyer by one of the agents chasing my business for my onward purchase. I'd hang on a bit and see what else comes in

... 10k below is what we offered and we're accepted at for a v high. Demand area .... take it and run lol

We accepted an offer 10k below the listed price less than 24 hours after it went on the market. The buyer had been looking in our neighborhood for 2 years and pounced when ours came up.
I'd do it.

I would definitely hear what he has to say, a cash buyer is not to be sniffed at !😄
I personally would be prepared to accept 10k less, than my asking price.

I am Kent area and sold mine for 10k OVER the asking price to the first viewer- also mid terrace, id either wait or suggest also to split the difference £5k each

Thank you everyone! His wife is flying in Friday morning so they're viewing together Friday afternoon. He turned up on my doorstep at 730 this morning which freaked me out a bit. He did the same Saturday after it had been on Rightmove for less than 3hrs. He couldn't get through to the agent so just decided to turn up!