The Benefits of Selling a Property to a Cash Buyer
What does it mean to be a cash buyer?
A cash buyer is someone who has enough money available to buy a property outright without needing to secure a mortgage or sell their current home. The official definition of a cash buyer is ‘someone who is able to buy without needing to take out a loan or mortgage.’ This means if you wanted to buy a house worth £250,000, that you’d have £250,000 sitting in a bank account.
Advantages of buying a house with cash
Cash buyer house discount
It is common knowledge that cash buyers often put in offers under the asking price when wanting to buy a property. This is fantastic news if you are a buyer who is in the market for a new property as, chances are, you could really knock some money off the asking price.
As a seller it is important to weigh up whether a drop in price would benefit you, as cash buying is a quicker route to sale; no mortgage needs to be agreed, there is no chain and the sale is less likely to encounter any issues. Cash buyers are a fantastic solution for sellers who require a fast house sale.
Being part of a chain can make the property buying process precarious for all involved. Each person selling and/or buying is reliant on everything progressing smoothly for everyone involved in the chain. A cash buyer ends the chain which can be very attractive for sellers who want a simple hassle-free sale.
Sell house fast
If you want to sell your house quickly then a cash buyer could be exactly what you need. Not only is being a cash buyer quicker and more flexible for the buyer, sellers benefit from the same advantages too.
At SOLD.CO.UK we can either sell your property for you, or buy it from you ourselves. Our Custom Purchase route enables sellers to complete in as little as 7 days if required. We buy your home for cash which allows you to sell as quickly as you need.
Cash buyers don’t rely on a mortgage to secure a property, nor are they awaiting funds from a sale. This means a sale is less likely to fall through, especially with mortgage lenders taken out of the equation. Whilst nothing is set in stone until contracts are exchanged, a cash buyer is reassuring for somebody selling their home.
Cash buyer vs mortgage buyer
If you’re selling your home, the only pitfall of going with a cash house buyer is you may receive an offer under the asking price you have set in your mind. It will be up to you whether to decide if a chain-free and fast sale is worth the slight drop in asking price. Request a free valuation from SOLD.CO.UK today and discover how we can help you sell your home quickly and for free.