in the land where the vulture funds rule – probably
Andyourpointiswhatexactly?
Of course it’s legal. Why wouldn’t it be? Though you’re excluding a large section of the market by making it so.
There is obviously a reason for it. Maybe the management company went bust or something.
GDPRChecklist
I don’t like it, must be illegal
Eoin
Or, buying an apartment with a mortgage can take forever through conveyancing with the lender wanting to see accounts, sinking fund, insurance plus there can be building issues specific to apartments. “cash buyer” is probably code for “can complete quickly”.
realPolithicks
I’d like the payment in small unmarked denominations…thanks.
Conski
if a bank wouldnt give a mortgage on it – for a myriad of reasons then yep, it would only really suit the wedged
thefatlad
Will they accept it in loose change?
Rob
I would always have presumed this was because there was something seriously wrong with it. If a bank isn’t willing to give a mortgage for 80% of the value, you definitely shouldn’t be putting up 100%.
Spaghetti Hoop
A fair few would have access to 200k if they sold their gaff and wanted a fast-buck investment before leaving the country.
Baz
is legal tender legal? is broadsheet for real?
Bodger
To ask only for cash.
MaryLou's ArmaLite
why wouldn’t be it?
a shopkeeper can demand cash only
scottser
‘so that’s bread, milk, 20 john player blue and a dormer bungalow in kildare. €285,003.49 please’
Daisy Chainsaw
Ripe for a politician to pick up and add to their property portfolio. The only people who have €200k walking round money are slumlords and druglords.
Junkface
What about Bertie Ahern? I’m sure he’s walking around with that cash in his pockets after going to the races. Totally normal stuff, didn’t he admit that he came back from the UK with thousands in his pockets after Cheltenham, like through the Airport and everything. Ha ha!
Spaghetti Hoop
He ‘s been speaking a lot lately in the meeja – so an even bigger wadge in the pocket.
Rep
Or people who have sold their house at a profit.
Its not that long ago that most houses being bought were cash only. They had to be as the banks were not giving out mortgages.
MaryLou's ArmaLite
OMG paying for something in cash, they must be criminals!!!!
Dr.Fart MD
you must be amazingly loaded if you think it’s normal to have 200k plus in cash. and that paying for a house in CASH.. is normal.
Stephen
Why would it be illegal? probably some issue meaning bank won’t give mortgage, came across it myself when looking at houses, one was a potential right of way issue with a shared driveway another had some structural issue. At a guess it management company issue or something like that.
Could just be quick sale wanted but I doubt it the ways it worded.
George
Post edited as I misunderstood original comment – delete, please.
Planning issues
Luas stuff
Pyrite – unlikely tho’
Pylons ditto
Rights of Way
Ongoing Litigation
Maybe receivership
There are loads of reasons a lender wouldn’t accept the property as security for a Mortgage / Secured Loan
Emily Dickinson
An issue around the title was the first thought that crossed my mind, but it could be any one of a dozen things. Obviously, it’s a big red flag so bidders would need to double-check everything.
Ian-O
I hate the cashless world. Time was you stuck a few 20’s in the back pocket and out on the town.
As the funds run low, the drink consumption decreased in line to ensure money for a taxi.
Nowadays, its all tap, tap, tap at the taps. Perhaps I need to learn self control?
Andyourpointiswhatexactly?
And when you had cash you could always claim you lost it, rather than admitting the beer monkey spent it all.
That goddamn beer monkey took a *lot* of my cash.
Ian-O
Sometimes, its the Beer Kong hard at work….
Wasn’t me, twas the giant Ale Ape!!!!
Spaghetti Hoop
Howaya Bertie.
phil
Relax , the banks are Regulated by the Central bank, any problems the CB will be onto them …
Andyourpointiswhatexactly?
It’s ironic that the word “relax” is such an anger-engendering word. The reflexive reaction is to mutter “fupp YOU and the horse you rode in on, boy” or whatever words you’re having yourself.
Ian-O
Chill!
Andyourpointiswhatexactly?
Chillax! Have a slice of chill cake!
Ian-O
Stringy bits of banana and a few kilos of turkey skin does the same.
Allegedly….
Captainpants
It could be because the apartment is part of a building that does not have a management company and thus cant get insurance. It can be difficult to get a mortgage if you cant get insurance, so often places that are part of duplexes and things like that ultimately end up only being bought by cash buyers.
ivan
Yeah, problem is that term ‘Cash Buyers only’ conjures up the image of somebody with a suitcase filled with notes; it’s really short-hand for ‘don’t want to be ages mucking about waiting for a bank to give this the nod’.
Which is code for, as alluded to above, ‘there might be something iffy here…’
Cash buyer clarifier
As Ivan said, “cash buyer” means “no loan/mortgage required”, not “suitcase of 50s”.
Many of the responses above seem to assume the phrase means the latter rather than the former.
No one is suggesting that the vendor expects actual hard cash currency – that would be weird!
millie st murderlark
I like to think it has the slightly seedy undertone of meeting someone under a bridge for a dodgy exchange.
millie st murderlark
And possibly being rich enough to throw heaps of money in the air while I dance to Abba.
in the land where the vulture funds rule – probably
Of course it’s legal. Why wouldn’t it be? Though you’re excluding a large section of the market by making it so.
There is obviously a reason for it. Maybe the management company went bust or something.
I don’t like it, must be illegal
Or, buying an apartment with a mortgage can take forever through conveyancing with the lender wanting to see accounts, sinking fund, insurance plus there can be building issues specific to apartments. “cash buyer” is probably code for “can complete quickly”.
I’d like the payment in small unmarked denominations…thanks.
if a bank wouldnt give a mortgage on it – for a myriad of reasons then yep, it would only really suit the wedged
Will they accept it in loose change?
I would always have presumed this was because there was something seriously wrong with it. If a bank isn’t willing to give a mortgage for 80% of the value, you definitely shouldn’t be putting up 100%.
A fair few would have access to 200k if they sold their gaff and wanted a fast-buck investment before leaving the country.
is legal tender legal? is broadsheet for real?
To ask only for cash.
why wouldn’t be it?
a shopkeeper can demand cash only
‘so that’s bread, milk, 20 john player blue and a dormer bungalow in kildare. €285,003.49 please’
Ripe for a politician to pick up and add to their property portfolio. The only people who have €200k walking round money are slumlords and druglords.
What about Bertie Ahern? I’m sure he’s walking around with that cash in his pockets after going to the races. Totally normal stuff, didn’t he admit that he came back from the UK with thousands in his pockets after Cheltenham, like through the Airport and everything. Ha ha!
He ‘s been speaking a lot lately in the meeja – so an even bigger wadge in the pocket.
Or people who have sold their house at a profit.
Its not that long ago that most houses being bought were cash only. They had to be as the banks were not giving out mortgages.
OMG paying for something in cash, they must be criminals!!!!
you must be amazingly loaded if you think it’s normal to have 200k plus in cash. and that paying for a house in CASH.. is normal.
Why would it be illegal? probably some issue meaning bank won’t give mortgage, came across it myself when looking at houses, one was a potential right of way issue with a shared driveway another had some structural issue. At a guess it management company issue or something like that.
Could just be quick sale wanted but I doubt it the ways it worded.
Post edited as I misunderstood original comment – delete, please.
Planning issues
Luas stuff
Pyrite – unlikely tho’
Pylons ditto
Rights of Way
Ongoing Litigation
Maybe receivership
There are loads of reasons a lender wouldn’t accept the property as security for a Mortgage / Secured Loan
An issue around the title was the first thought that crossed my mind, but it could be any one of a dozen things. Obviously, it’s a big red flag so bidders would need to double-check everything.
I hate the cashless world. Time was you stuck a few 20’s in the back pocket and out on the town.
As the funds run low, the drink consumption decreased in line to ensure money for a taxi.
Nowadays, its all tap, tap, tap at the taps. Perhaps I need to learn self control?
And when you had cash you could always claim you lost it, rather than admitting the beer monkey spent it all.
That goddamn beer monkey took a *lot* of my cash.
Sometimes, its the Beer Kong hard at work….
Wasn’t me, twas the giant Ale Ape!!!!
Howaya Bertie.
Relax , the banks are Regulated by the Central bank, any problems the CB will be onto them …
It’s ironic that the word “relax” is such an anger-engendering word. The reflexive reaction is to mutter “fupp YOU and the horse you rode in on, boy” or whatever words you’re having yourself.
Chill!
Chillax! Have a slice of chill cake!
Stringy bits of banana and a few kilos of turkey skin does the same.
Allegedly….
It could be because the apartment is part of a building that does not have a management company and thus cant get insurance. It can be difficult to get a mortgage if you cant get insurance, so often places that are part of duplexes and things like that ultimately end up only being bought by cash buyers.
Yeah, problem is that term ‘Cash Buyers only’ conjures up the image of somebody with a suitcase filled with notes; it’s really short-hand for ‘don’t want to be ages mucking about waiting for a bank to give this the nod’.
Which is code for, as alluded to above, ‘there might be something iffy here…’
As Ivan said, “cash buyer” means “no loan/mortgage required”, not “suitcase of 50s”.
Many of the responses above seem to assume the phrase means the latter rather than the former.
No one is suggesting that the vendor expects actual hard cash currency – that would be weird!
I like to think it has the slightly seedy undertone of meeting someone under a bridge for a dodgy exchange.
And possibly being rich enough to throw heaps of money in the air while I dance to Abba.