Cash buyer?

Plenty of people claim to be 'cash buyers' in the hope of achieving a price reduction, but surprisingly few actually are.

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Don't snap someone's hand off if they claim to be a cash buyer. We're not suggesting that they are lying - they might genuinely believe that they are a cash buyer and still not be. So who is one and who isn't? Basically anyone with verifiable funds available at the time they are claiming to be a cash buy. For example:

  • The first time buyer whose mortgage is in place.
  • Someone who has sold their existing property and contracts have been exchanged (assuming they have other funds to top up if necessary)
  • Someone with the money in the bank.

That's pretty much it. Someone who is still waiting for their mortgage approval is not a cash buyer - likewise someone waiting for an inheritance or other settlement to clear or someone who has 'sold' their property but not exchanged contracts.

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