Cash Buyers Only

When you want to sell your house, you may need to first to understand what “cash buyers only” means.

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Your key questions – cash buyers only

✅ How are cash only buyers property sales defined?

These happen when the owner of a leasehold or freehold house or flat specifies that they will only entertain offers from buyers that can pay for the property immediately in cash, in full. Selling this way can be much speedier than using other buyers who might have to wait at least a few months to obtain a mortgage, during which time the sale is at risk of falling through.

✅ What's the average timeline for a cash only home sale?

You can expect the typical process to last just a handful of weeks from beginning to end when using a cash only buyer, although complications are always possible. This compares favourably to using an auctioneer that might take at least a month to market your home and then a further month to finalise any sale, and estate agents who might take many months or even longer.

✅ Will I have to pay any fees when selling to a cash buyer?

Typically, cash buyers and sellers do not impose any fees, and that’s another of the main attractions of selling this way. That’s particularly true of quick property buying companies, because they aim to distinguish themselves from estate agents and auctioneers who will not only charge you fees, but also usually take much longer to sell your home.

✅ Are there any cons of using a cash buyer for my home?

Although there are many benefits of selling your property to a cash buyer, there can be some possible cons. Perhaps the biggest problem is that some cash buyers might make offers on your home that are below its true sale price, hoping you’ll accept it in exchange for a fast sale.

✅ How do I know if a buyer can actually afford my home in cash?

If you have decided to sell your home on a cash buyers only basis, you must then ask the person or entity attempting to buy your home for proof that they have the cash for the transaction. This is typically done through the buyer producing a bank statement that shows they have the funds to purchase your property.

✅ How do I know fast home buying companies can be trusted?

Ask if the company belongs to The Property Ombudsman (TPO), an independent organisation that publishes regulations to protect homeowners against fraud in the quick buying industry. Companies that are registered with TPO must follow those rules, which offers you extra comfort. Don’t sell your home to a fast buyer that cannot prove it is a valid member of TPO or the equivalent.

✅ Do owners use cash only buyers just to get a speedy sale?

No. Although a fast sale is one of the top benefits of using a cash buyer, it’s not the only reason why an owner might be selling their home this way. Their property could have a defect, such as subsidence, which makes it all but impossible to find a buyer using other methods. Cash buyers might be more open to a speedy and simple sale, which is good for the homeowner.

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