Cash buyer or investor-which buyer to choose?

[Sweett00th]

We have two good offers on our flat, one cash buyer and other investor and whilst above flat is tenanted I’m tempted to go with investor but worried they could pull out. Whereas the cash buyers are downsizing so they would be living here, which would you consider?

[WombatChocolate]

You are not a cash buyer if you will only have the cash once you’ve sold property. A cash buyer has the funds available when offering and can access them very quickly.

Lots of people say they are cash buyers but then it turns out they won’t have the cash until they sell a property (creating a chain) or until they get a very small mortgage or until they cash-in assets that take 6 months to access.

A cash buyer isn’t dependent on any other action happening or anyone else giving them money and has the funds in a short time period. Some cash buyers want a survey and detailed questions answered by solicitors but could hand over the full purchase price to their solicitor within a week or 2 if the basic procedures were completed. And some do offer and complete within a week or 2.

Ops buyer is not a cash buyer. Fine to choose them as they offered more but don’t call them a cash buyer - they aren’t.

[CatAndHisKit]

*Wombat( you aer right of course, but there is still a difference between cash from sale, and a mortgage buyer who depends on bank's decisions and procedures which take longer than 'cash from sale' - and that's on top of having to sell their house. 'Cash from sale ' is great if their house is easily saleable so worth finding that out, then they can choose a no chain buyer. If theirs is a difficult house - then ok, best to go with a lower offer from cash buyer.

[positivelynegative]

I disagree. Banks make the decision, the money comes. It’s commercial. Selling a house is full of jeopardy and can easily fall through.

[CatAndHisKit]

positive I'm comparing cash from sale to a mortgage buyer when both need to sell their houses. Genuine cash buyers do usually make lower offers, so it depends whether the sale is urgent - all I'm saying is 'cash from sale' is better than mortgage ones.