Published On: Wed, Oct 24th, 2018

6 Compelling Reasons Why Sellers are Choosing Cash Home Buyers for a Faster Sale

These days sellers are on the lookout for a cash home buyer either because they had aborted sales or let down via poor performing real estate agents. In fact, this has turned into an increasing trend. As per Google UK’s latest stats, there are more than 12000 searches from sellers every month in search for a good cash home buyer. This trend is increasing because of the likelihood of the rates of interest to go up.

photo/ mohamed Hassan

Take a look at the 6 compelling reasons why sellers are choosing cash home buyers for a faster sale.

  • The Estate Agent has not sold the Property- A seller must have experimented with the open market with the property remaining on the market for some time but unfortunately not sold. There may be different reasons behind the property not being sold such as the condition of the property or unrealistic asking price. The seller now may have reasons or higher motivation to sell their property faster.
  • Cash Home Buyers Vs. Online Estate Agents- Some real estate agents pretend in being cash home buyers that offer around 90% value of the property to the seller. This is not realistic or possible. These real estate agents, unfortunately, are not cash buyers in the true sense and will notify sellers that they have investors that will purchase the property of about 90% value. In fact, the seller will enter into a contract for 6 months but even after 6 months did not achieve the sale. Beware, the world online can be tough and confusing when it comes to distinguishing between good cash home buyers against real estate agents hence make it a point to ask them for their solicitor’s details, proof of funds and also how promptly they can exchange contracts.
  • Unmortgageable Property- A property can be difficult to sell and be unmortgageable for a couple of reasons. Some of these include non-standard construction, cracks or dry rot in the property structure, structural problems like subsidence, properties with squatters, property with the sitting tenants, the property having a poor condition, missing freeholder or a defective lease. All these factors make it impossible to sell the house in an open market. 99% buyers actually depend on a mortgage for buying a property hence it is difficult in attaining a prompt sale. Cash home buyers can move it quickly. Of course, sellers can proceed with their plans. Some of the key characteristics of such buyers include the ability to exchange contracts quickly. It means the property sale can be completed in just 2-3 weeks devoid of any delay.
  • Children of Sellers Taking Admission in a New School- Should the seller have an intention of sending their kids to some better school they will search for cash buyers owing to the constraints of time included in applying for another school. The majority of the sellers are planning to send children in the top performing schools thus they look for speed and certainty to sell their property faster.
  • Aborted Sales- 1 out of 3 sales fail because of the buyer’s mortgage or remorse not being accessible. Every real estate agent will have an excited buyer as well as give the assurance that the sale may complete but 6 weeks later will call and say that the funds have been down. Again, the property selling process will begin. Here there are some hidden costs which can mount up quickly to a huge amount such as mortgage payments, repairs, utility bills, insurance, council tax amid others. In the case of cash buyers, the seller does not need to worry as cash buyers are always in a position of exchanging contracts quickly within a couple of days. So, the seller will be certain of the fact that the post exchange of the contract they can breathe a sigh of relief that the sale will be successful. For more details on cash home buyers, visit ASAP Cash Home Buyers.
  • Uninhabitable Property- A property will be considered inhabitable if its condition is really bad and people cannot live in it. It will be a tricky position for a seller so the best step will be to consider cash home buyers that can buy the property right away. They are committed to buying the house whatever takes place amid exchange and completion. Motivated sellers can relax because there will be no delays in the selling process and no uncertainty.

For every seller looking to attain quick sales, get in touch with a cash home buyer. The key factors will help you in establishing whether you are working with a good cash home buyer. These include checking the name of the company, reading their reviews, who will purchase the property-investors, sourcers or estate agents, the solicitors that will act on their behalf, the total time is taken, proof of funds and consulting previous clients.  

Author: Charlie Brown

On the DISPATCH: Headlines  Local  Opinion

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