Selling your house is rarely a smooth process. However, there are ways to make the process less time consuming and less expensive too if you are willing to explore all the options. The focus of this post is around cash buyers and cash buyer companies who have a pot of funds ready to go that will be used to purchase a property. Why should you consider this option? Read on to find out.
What is a Cash Buyer?
A cash buyer is either an individual or a company like Hull Cash Buyers that is ready to go with the available cash value of your home. It is typical to be offered a lower amount than the property is valued at, especially if you opt for a company vs an individual; however, you save money in other areas with both options. It is worth noting that if you look into the company route, there will be limited fees and you bypass the need for surveys and conveyancing on your side because the business will both accept the house as is and have their own team of expert lawyers.
The overarching compelling factor here is that the whole process becomes a lot faster when you have a cash buyer offer. For companies, it typically takes around three weeks from offer to completion of sale, and this is just not possible with a mortgage route. So, if you want your house sale to move quickly and don’t mind a lower offer, then the speed factor is great.
Fewer Preparation Demands
When you put your house on the market with an estate agent, they will advise you to spruce it up inside and out. This means cleaning up the paintwork, getting the carpets cleaned, and generally repairing all of the wear and tear jobs that have been accumulating over the years. However, a cash buyer company doesn’t care about all of that, and they will accept your house for what it is. This, again, saves you time, but also a ton of energy too. It means you are not spending money on your property that you won’t see the benefit of, and that the pot of cash you would have used for paint, etc., can be put towards your new adventure.
A Distinct Lack of Fees
A company that buys houses may not match the valuation, but one bonus point that mitigates this fact is that there are no fees associated with the sale. Most of the time, conveyancing and so on are all taken care of through their own branch of law experts, and you bypass the estate agent fee demand entirely. This means you could theoretically save thousands of pounds which is highly appealing, especially the higher in value the property actually is. An individual cash buyer will still probably move through an estate agent unless it is a less formal arrangement, so there will be some costs there.
Cash buyers save you time and speed up the sale process. They make it possible for you to shift the property in a more appealing way and create a space that works for both parties.