Property in Manchester Is In High Demand For Cash Buyers
With hundreds of bars, restaurants, and activities for people of all ages, there are very few people who don’t enjoy living in Manchester. It truly does have everything – and when the time comes to sell your house, there will undoubtedly be people who are keen to own property in the city.
Selling your house is not always straightforward, however. Even in a place like Manchester, where demand for property is high, you may not have time for the ‘traditional’ high street approach to selling your property. The average time to sell a house in Manchester is 155 days – and this is a time period that many people are not willing to wait.
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What is a Cash House Buyer?
A cash buyer is an organisation that can pay for your property up-front with cash. These businesses do not operate within a chain, meaning that they can complete the purchase in a time frame that is most suitable for you.
Cash house buyers make a profit by ‘doing up’ your property after buying it from you, and then selling it on for a profit. Many people selling a house cannot be bothered to make fixes to structure, or decorate the property, or repaint the walls. Likewise, hiring professionals to do this for you could be expensive – so it suits the property owner to sell to a cash buyer, who purchases the property in any condition.
It is important that you research any cash house buyer before contacting them for a quotation. The most trustworthy organisations usually have:
- Independent online reviews across multiple platforms
- Happy clients they can refer you to
- A detailed website which answers all your questions
- A phone line you can call up and speak to a member of the team
These businesses should also belong to regulatory bodies, such as The Property Ombudsman.
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Who Needs a Cash House Buyer in Manchester?
- Inheriting a house via probate
- Going through a divorce
- Facing possible repossession
- Buyer has withdrawn
- Offloading a buy-to-let
Property Market in Manchester
Rising inflation across the UK has put a strain on the pockets of homeowners and renters alike – and Manchester is no different.
Inflation in the city was 11.5% in 2022 and has stayed at a similar figure throughout 2023.
With rising interest rates, this means that the price of mortgages is going up significantly, and most people living in Manchester have less money to spend.
With an average property price of £250k, Manchester is the 34th cheapest postcode area out of 105 England and Wales’ postcode areas. This means that, despite the challenging economic conditions, lots of people from the south see Manchester as an affordable, exciting city with lots to offer.
There are approximately 120,000 students studying in Manchester, and this results in more than 25% of the city’s population being 19 or younger. Many of these students rent in the city, which means that Manchester is still an attractive investment proposition for people keen to buy a property and rent it out.
Manchester is an attractive place to invest in property – so, when the time comes to sell your house, you have lots of options available.
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Selling a Manchester Property in Bad Condition
It doesn’t matter what condition your property is in – you can sell it to us.
Offloading a derelict house, or one with lots of problems with the roofing, tiling, plumbing or something else, is not always easy on the open market. Almost all people using a high street estate agent want a house that they can move into straight away.
It’s mostly property investors who are willing to buy a house in bad condition – and that’s where Sold.co.uk comes in.
We will make a cash offer for your property which allows you to get a large amount of money for it, without the hassle of paying for repairs. Our offer will be below the market value – but once you factor in the cost of fixes, and all the other charges involved with a high street agency, you may find that bringing us in is more convenient.
You can contact us about a derelict or uninhabitable house in any part of Manchester. It doesn’t matter whether it’s in Ancoats, Didsbury, Chorlton, Spinningfields or anywhere in between: Sold.co.uk can take it off your hands for a reasonable price.
Contact us today for a free, no-obligation valuation of your house.
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Frequently Asked Questions About Cash House Buyers in Manchester
Is a cash buyer better for a house?
Whether a cash buyer represents a better option when selling your house depends on your circumstances. If you need a quick, hassle-free sale from someone who isn’t in a selling chain, then a cash buyer could be ideal. On the other hand, if you are not in a rush, and decide that you want to get the maximum value for your house possible, then selling through a high street estate agent could be a better idea.
How does a cash buyer value my property?
Sold.co.uk uses a vast range of tools to make an accurate valuation of your house. These include the Land Registry and RightMove Plus. The cash can be in your bank account within two weeks – or in a time frame of your choice.
Select an appointment that suits your schedule, and one of our expert valuers will give you an in-depth valuation and answer all your questions about Sold.co.uk.
Do cash buyers need a solicitor?
Yes, cash buyers still need to use a solicitor. Many firms pay in-house solicitors who will take care of this process. At Sold.co.uk, we cover the legal fees of all the people that sell their house with us.
How much do you have to pay to use a cash house buyer?
There should not be any up-front costs involved with using a cash buyer. If you discover that there are hidden fees, or if they are asking for an up-front payment, then this might be a sign that the organisation is not entirely trustworthy.
Sold.co.uk charges a flat fee of £1,999 once the sale has gone through.
How long will the funds take to be in my account with a cash house buyer?
Sold.co.uk aim for the funds to be in your account within 48 hours of a sale being completed on your property.
Do cash house buyers purchase all types of property?
Sold.co.uk purchases any type of property, no matter what condition it is in. You can contact us for an offer on flats, detached or semi-detached houses, terraced properties, bungalows or more.
Please keep in mind that not all cash buyers purchase every type of property, so you should double check this with the firm you are dealing with, before making an assumption.
Can I change my mind after approaching a cash house buyer?
Yes. When you work with a trustworthy cash buyer like Sold.co.uk, you can change your mind after contacting us. Once we have valued your house, you are not required to go through with the sale.