“Property cash buyer” This is a term used for individuals and companies which can deliver a sale on your house by paying you cash for your property.
A reputable property cash buyer will buy any home in the UK for cash and generally speaking, can complete the purchase very quickly. Property cash buyers can sometimes be seen as an alternative route to sell your house fast.
When selling to a property cash buyer there are no other buyers involved, you simply sell your house, bungalow or flat direct to the property cash buyer. Generally, you don’t need to worry about the state of your property, as they will buy any house, no matter whether it is in immaculate condition or in need of a lot of work.
How does a property cash purchase work?
Take estate agents and chains out of the process.
• You contact the cash buyer to arrange a free valuation of your property
• They carry out a survey of your property as soon as possible
• They give you a cash offer
• You decide whether to proceed
• The cash buyer’s solicitors complete the deal for you
Why does property cash buying have a bad name?
Unfortunately, the reputation of the market has been tarnished by a few unscrupulous companies. Some are not true cash buyers and are just acting as middlemen for investors. Others are not able to complete the deal as they don’t have the cash to proceed with all the offers they make. Any reputable property cash buyer will be happy to give you evidence that they have adequate funds to proceed with the cash purchase of your property to an agreed timescale.
Why are property cash purchases becoming so popular?
There has been a consistent rise in the total number of property cash buyers.
The total number of cash buyers was 12% higher than its peak in 2007
– Says James Pickford, at Financial Times.
This shows a clear rise in homeowners seeking “we buy any home” companies that offer super quick and easy cash house sales.
This is with good reason, yes I said it, good reason. There are actually many benefits to a fast cash sale, especially since the rise of The Property Ombudsman to moderate and demand a fair and fixed sale process.
The other benefit categories are:
Time: many people today need to sell their home fast, for a variety of reasons, such as:
• Moving to another area for a new job
• An elderly person moving into a care home
• Executor sale after the death of a relative
• Change in personal circumstances, such as divorce
• Avoiding repossession when financial difficulties arise
Convenience: house viewings can be a nuisance and can feel intrusive for many reasons, including:
• Keeping your house perfectly tidy for viewings can be difficult, particularly if you have young children
• You may be uncomfortable with having lots of strangers wandering through your house
• Viewers often make negative comments, which can be hurtful – after all, it has been your home
• You may be concerned about the security risk of having strangers able to see what valuables you have in your house, and it’s impossible to put everything away out of sight.
Condition: you don’t need to waste time and money doing up your property before you put it on the market. We buy any house in any condition.
Control: selling your house or flat to a cash property buyer puts you in control of the sale. You are not dependent on a long chain of buyers and sellers, with all the complications and delays which numerous sets of estate agents and solicitors can add to the equation. When you choose a reputable company for your cash property purchase, you are assured of a prompt valuation and a quick turnaround time for completing the sale, usually within a week.
Certainty: the housing market has been facing increasing uncertainty following the EU referendum and no one knows exactly what the future has in store as the government proceeds with Brexit. The final quarter of 2016 showed the housing market had slowed down, and the outlook for 2017 and beyond is gloomy. With a stagnating market, it could take months to sell your property through the conventional estate agent channel.