Cash offer versus mortgage offer

[beekeeper17]

So the seller is making a decision overnight between our offer which will require a mortgage but we're ready to go with nothing to sell, and somebody else with a cash offer 3k less than our offer.

I think I know already that this isn't going to go in our favour but we're going to have to wait until tomorrow to find out. Should I just tell myself now that we're not going to get it rather than prolonging the agony for another day?

Thanks everyone. Not expecting an update until later in the day, will let you know what happens. I imagine the others have cash in the bank, it was a popular house and the estate agent seemed to be discounting offers from people who had something to sell. Seems like it's all against us, and I had originally thought we were in a relatively good position. Off out now to distract myself.....

Fingers crossed for you! It's so bloody stressful.

My estate agent told me cash buyers aren't always that great. They don't need to spend anything whereas anyone with a mortgage needs to pay for surveys to proceed (even if the sale doesn't go through).

It's so easy for a cash buyer to just walk away when they want and I think it's that's why they they sometimes play hardball and try to negotiate the price down at the 11th hour.

Can't actually believe it but they've accepted our offer!! They thought we were more committed to the purchase than the cash buyers. So here's hoping for no major hiccups along the way. It's been 6 months of looking and disappointments so I don't want to get too excited in case it falls through, but it's hard not to!!

Ah op that's fab!!! See you never know what's in the mind of sellers. Bet you are well chuffed! 🎉🎉🎉

Excellent news. Fingers crossed it all goes through now

Congrats op!

Thanks everyone, I think all your positive thoughts helped! Your experiences will definitely make me think twice about cash buyers if we're ever selling again in the future, they're not always quite as good as they appear to be.

Excellent news

Well done OP.

we've had some awful cash buyers over the years. So arrogant and think that having cash makes them superior, they demand the earth and then they pull out. Or, they never were cash buyers or they suddently decide actually they want to keep their cash and now need a mortgage. Personally I think theyre a bigger risk and would certainly not give them a discount!

Fantastic news!

Congratulations!

Yeah!!!!!!

Congratulations!

Congratulations! So nice to see this at the end of the thread

What fabulous news, hope it all runs smoothly from here to moving in day

🍾🥂🏡 Congratulations!!

I'm so pleased for you 😁

Let us know if it all goes to plan! (Or if it doesn't 😖).

Yay! Congratulations! It was meant to be :-)

Congratulations 🎉

Fingers crossed for you x