you ve not bought many houses? solictors wont accept anywhere near that amount of money in cash for starters.
This is rubbish.
It puts you on a far stronger position, simply buy making you a more reliable buyer -less to go wrong with loans and chains. But again the sellers “need to sell” will govern your leverage. Auctions could be worth a look, but then you may need to keep some cash back for refurb etc. Look for things that have been on the market for a while, recently reduced, changed agent etc. This shows a bit of desperation. Sounds a little mercenary, but that’s your target audience. Property Bee is a useful tool for this, Zoopla has some good options too.
Remember the house is only worth what the buyer dictates, the agents just pretend to be buyers when they put a (normally inflated) price on it. So if you want the property you find dont risk losing it because you think you’re entitled to a discount. The seller decides your entitlement, which is why it helps if they’re desperate.
Depending on your budget, if you’re looking at a bog standard 3 bed semi, drive, garage etc that’s been on the market for 6 months and is accurately valued I wouldn’t hesitate at going in 10% under with an explanation of your position and work from there.
Also worth knowing that if an agent says their client wont accept that offer the moment you propose it, you can demand that the offer is still put forward. The agent is legally bound to do this. The seller may have told the agent a bare minimum because they are expecting low offers (i.e. know their house is over valued) or know they are a little weak willed and really should accept your offer, but are just being greedy/trying their luck! I’ve trumped where this has been the case.
Kev