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Original poster

Higher offer or cash buyer

22 replies

KylaF · 27/02/2025 20:13

Hi there

i have a decision to make. I have received an offer 2000 more than an underbidder. The highest bidder is currently living in Australia but from the UK and making arrangements to move home. They have a mortgage in principle and nothing to sell.

the underbidder who is offering 2000 less is a cash buyer.

which one is the best option? Even with the 2000 more I am slightly under where I would have liked to have been by 3000 pounds .

any advice ?

OP posts:
GreatScroller · 27/02/2025 21:23

cash buyer

Pipsquiggle · 27/02/2025 21:27

Based on what you have written. Cash buyer with a timescale to suit you

MissHollysDolly · 27/02/2025 21:29

Cash buyer

mynameiscalypso · 27/02/2025 21:32

Are they a definite, cash in their bank account cash buyer? So many people say it but what they actually mean is they won't need a mortgage but will need to sell a property to get the cash.

OnlyFoolsnMothers · 27/02/2025 21:34

Higher offer for me unless you have your next property ready to purchase

tattychicken · 27/02/2025 21:36

Like the PP, I'd be sceptical about the cash buyer unless I saw evidence of this. The term is bandied about freely, but often cash buyers turn out to be waiting for another house to sell/circa changed so need a mortgage. I would ask for proof.

BruceAndNosh · 27/02/2025 21:53

mynameiscalypso · 27/02/2025 21:32

Are they a definite, cash in their bank account cash buyer? So many people say it but what they actually mean is they won't need a mortgage but will need to sell a property to get the cash.

People use the term Cash Buyer a little loosely, as we found out to our detriment.
I'd prefer a buyer with a mortgage but no house to sell

Els1e · 27/02/2025 22:06

mynameiscalypso · 27/02/2025 21:32

Are they a definite, cash in their bank account cash buyer? So many people say it but what they actually mean is they won't need a mortgage but will need to sell a property to get the cash.

Agree with this. I made a mistake once by taking a lower offer from a cash buyer. Later find out, cash is coming from a probate sale. Longest drawn out property transaction ever

OtiMama · 27/02/2025 22:14

I would go for the higher offer despite not being a cash buyer. If they are moving back I would feel like there's a plan and focus to do it...rather than cash buyer could take any length of time, not have the funds they say etc.

rightoguvnor · 27/02/2025 22:17

I was coming on to advise a 'show me the money' moment with these cash buyers but I see so many have also come across the same type. You can't be sure until the cash is handed over to their solicitors.
It's amazing how many are cash buyers till about 2 days before exchange.

MondayYogurt · 27/02/2025 22:18

In this market?? Cash!

Devianinc · 27/02/2025 22:20

Higher offer, cash offer is just a thing that makes you feel like you’re getting more but the loan for the higher price is still yours. It’s a dumb thing that’s been pushed around a lot. A mortgage amount is higher than the cash, take the mortgage payment. It’s yours

Devianinc · 27/02/2025 22:20

Devianinc · 27/02/2025 22:20

Higher offer, cash offer is just a thing that makes you feel like you’re getting more but the loan for the higher price is still yours. It’s a dumb thing that’s been pushed around a lot. A mortgage amount is higher than the cash, take the mortgage payment. It’s yours

Unless you have to sell asap

sansou · 28/02/2025 00:26

A no chain cash offer is worth a lot more than £2K! It's really a no brainer.

sierramiller · 28/02/2025 06:56

Do you mean £20,000?

Otherwise that's the easiest decision ever

sierramiller · 28/02/2025 06:58

My sale is about to fall through for the third time in a year due to collapse of chain

Id give £2k to avoid that happening

DrySherry · 28/02/2025 07:20

You must satisfy yourself that they are really a cash buyer who can prove they have the funds ready to proceed. If they have I would choose them. If not, or are they are unwilling to prove to your agent - then think again.

Needanadultgapyear · 28/02/2025 08:38

My concern with someone who is moving back from Australia would be where is their cash deposit? Getting sizeable sums of money into the UK can be slow and it will need to satisfy money laundering regulations.

Advocodo · 28/02/2025 09:25

OtiMama · 27/02/2025 22:14

I would go for the higher offer despite not being a cash buyer. If they are moving back I would feel like there's a plan and focus to do it...rather than cash buyer could take any length of time, not have the funds they say etc.

Agree. Also Cash offer could change their minds.

vrouge · 28/02/2025 10:30

Needanadultgapyear · 28/02/2025 08:38

My concern with someone who is moving back from Australia would be where is their cash deposit? Getting sizeable sums of money into the UK can be slow and it will need to satisfy money laundering regulations.

I'm originally from Australia and when I bought my first house I transferred over some of my money for the deposit but it was an account in my name in Australia to an account in my name in the UK and I could evidence the longevity of it so absolutely no problems whatsoever. Took about 2-3 business days which is a standard timeframe.

Gekko21 · 28/02/2025 11:27

If they are a genuine cash buyer with ready funds in the bank, then I'd go with that. They won't have a mortgage application so less likely to get caught up in down valuing by a lender. If down valued by private survey they may be less inclined to try and renegotiate as they have the equity. Plus they are already getting a discount so hopefully will feel they got a good deal and crack on. Anything you can do to keep the transaction as simple as possible right now is a boon. Avoid chains as much as possible as banks and conveyancers are being picky about leaseholds / non-standard constructions / missing documentation. Also, MiPs are easy to get online and not really a great indicator of how full mortgage applications will pan out.

SparklyGlitterballs · 28/02/2025 11:34

Has the person in Australia even been back to the UK to view the house? If not, what if they get here and decide they don't like it after all?

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