Selling to a cash house buyer is one of the fastest ways you can sell your house.
But this isn’t the only option that makes it popular with some property sellers.
Read on to find out more.
What is a cash buyer?
In property, a cash buyer (or cash house buyer) is an individual or company that buys a property outright.
This means they don’t need to first secure a mortgage or sell their home in order to purchase another property.
For example, if they wanted to buy a house worth £250,000, they would have at least £250,000 immediately available.
Are cash house buyers legitimate?
Some worry that cash house buyers are not a legitimate or fair service.
But as with every industry, there are good and bad actors. Using the wrong provider can bring problems.
But finding the right cash buying company should provide the benefits listed below.
Before contacting one, you should research ways to spot a good cash home buying company.
Advantages of selling to a cash buyer
1. Speed
Cash buyers can often complete a house sale in as little as 7 days.
However, they often offer under the asking price when wanting to buy a property.
If you are a buyer in the market for a new property, this might mean you can reduce some money off the asking price. But you save time regular house sellers need for:
- Marketing
- Viewings
- Negotiations
- Waiting for loan approvals.
And more.
But this is not good news if you are a seller—unless, of course, you require a quick house sale.
2. Costs
In this case, you will not need to pay a range of fees, including estate agent fees, conveyancing fees, and more.
Furthermore, a quick sale will reduce your outgoings on a property. These outgoings can build up if a traditional sale takes a long time to complete.
2. Chain-free sale
Being part of a chain can make the property-buying process uncertain for all involved.
All parties rely on smooth progress for everyone involved in the chain. When it doesn’t work out, it can slow down or completely stop a property sale.
A cash buyer ends the chain, which can be very attractive for sellers who want a simple, hassle-free sale.
3. Increased security
Cash buyers don’t rely on a mortgage to secure a property or await funds from a sale.
This means a sale is much less likely to fall through than a traditional sale.
Are you considering selling to a cash buyer?
The main potential pitfall with genuine cash buyers is the reduced selling price.
You should consider the potential financial loss that comes with a cash buyer. And whether you a chain-free quick sale is worth it.
Why not consider another option? At We Buy Any Home, we are ready to sell your home in a timeframe that suits you.
A benefit of our fully managed property sale service is that we don’t charge a penny and even cover your legal fees.
Request a free quote from We Buy Any Home today and discover how we can help you sell your home quickly and for free.
As a trusted home cash buyer we can value your property for free, ensuring that you have a great idea of what offer a cash buyer should make.
