In message , MM
writes
On Wed, 20 Oct 2004 00:48:54 +0100, Richard Faulkner
wrote:

He's not a cash buyer as he has a house which is selling to provide the
money for the next one.

But I have already explained that I am prepared, if need be, to move
into rented accommodation for a short period, thus making me a cash
buyer when the sale of my property has been completed.


Agreed, but you are not a cash buyer at the moment. You are a buyer with
a house to sell which is under offer. If your buyer, or their buyer,
decide not to buy, you cannot buy the next house.

In general, an agent will prefer a buyer needing a mortgage over a buyer
needing to sell a house, but not needing a mortgage.

How about a buyer (still) needing a mortgage AND needing to sell a
house? As do most buyers.


More complicated, and more opportunities for problems than the other two
options, so least desirable.

A couple with a house each to sell, and their late parents house, and
needing a mortgage are even less desirable.

Mike - These are generalisations, and a good agent will use their
judgement in advising you in every circumstance. For example, if I make
an offer for a house locally, and need to sell 5 houses and get a
mortgage to buy, the agents know that I will arrange short term
remortgages, (loans), on the houses I need to sell, just in case they
dont.

Also, I have been told by at least three vendors that they are less
interested in FTBs who believe they will get up to 80% of the purchase
price, when it is patently obvious that their optimism is getting in
the way of reality. At least it looks less likely now that the
interest rate is going to be raised again this year.


My opinion has been formed over 17 years and the sale of around 2500
houses. Most vendors have sold up to 4 or 5 in a lifetime, (or 15 or
20....). Again, the agent should attempt to financially qualify any
purchaser, including an FTB. If they get the correct, unconflicting
answers from all sources, and the figures stack up, there is generally
more chance that the FTB will be able to proceed better than the others
- on average, and on balance.

I bought my next house yesterday. That is, we haggled, they accepted.
Solicitors have been instructed. We wait.

People buying houses tend to use very imprecise terminology, usually in
a way which suits their situation. Your offer has been confirmed as
acceptable, but you havent bought the house. There is many a slip 'tween
cup and lip and, as you say, you wait.

I truly hope it all goes OK. Many do. It's just that when it doesnt,
people get upset and look for someone to blame, (usually the estate
agent g), when it is actually quite normal and par for the course.


Meanwhile, my 370 mile trek
around Britain over the past few days has done the clutch in (no, not
my foot on the pedal; one of the fingers inside the clutch plate
mechanism appears to be jammed or broken), so that's going to cost me
£160 on Monday.


Small beer in the context of a house sale g

Regds
--
Richard Faulkner