What Is A Cash Property Buyer?
A cash property buyer comes in various forms. Sometimes it can be an individual who has cash resources. Sometimes it can be a company that has private funding. Serene Homes is a leading cash house buyer in the UK and offers a very straightforward service that offers complete assurance to the property seller.
What is the Difference Between a Mortgage Property Buyer and Cash Property Buyer?
The difference between a mortgage property buyer and a cash property buyer in the UK is very simple. A mortgage buyer does not have enough money to buy a property outright so makes an application to a bank to lend them the money over a long period of time. The bank usually lends the house buyer a sum of debt over a period of typically 20 to 30 years at an agreed rate of interest.
Risks of Selling to a Mortgage Property Buyer
For those looking to sell a property, one of the problems and frustrations that they often come up against is dealing with buyers who need to take a mortgage. Firstly, the house seller could agree to sell their house for an agreed price with the buyer reliant upon taking a mortgage. It will not be quickly known if this buyer is able to secure a mortgage or not and whether the bank will actually lend on the subject property. The whole transaction is at risk if the buyer’s mortgage does not go through and by the time the mortgage falls through, both the property buyer and property seller will have paid a number of fees that are not reimbursable. Legal fees will have been paid on both sides and the buyer will have also paid fees relating to their failed mortgage application. Further to this, a significant amount of time will have been lost and as per the common phrase, “time is money”.
If a sale falls through after 6 months due to a house buyer failing to get a mortgage, then this means that not only is the house seller back to square one, but they will also have had to pay 6 more months of their own mortgage costs, cover 6 more months of their utility bills and cover more costs relating to the upkeep of the property. And unfortunately, there is no guarantee that when the property seller remarkets the property, there will be a different outcome. More fees could be paid, more time wasted and still, no house sale completed.
Why Use a Cash Property Buyer?
An alternative route to selling a property is to use a cash buyer. This excludes all risks that relate to a buyer taking out a mortgage and, once the cash buyer is in place, the time to completion for a house sale is much faster. The challenge that remains however is how do house sellers find a cash buyer? Most estate agents do have some cash buyers on their books, but they are much fewer and usually only buy very specific properties. The time to actually selling a property can therefore still be very long as it takes considerable time to find a cash buyer who would be interested in buying this very specific property.
Sell Your House with Serene Homes Cash Property Buyers
Serene Homes is a cash house buyer with a difference and buys properties of any type in any condition in any location in England and Wales. Even if a property is in very poor condition, Serene Homes will buy the property following one survey to confirm the true value. The cost of the survey is also covered by Serene Homes so there is no risk of the house seller being out of pocket.
Serene Homes, as a leading fast cash house buyer in the UK, also guarantee to buy a property in as little as 7 days, due to the fact that we have our own funding in place. Once a price is agreed with Serene Homes and the survey is complete confirming the value and condition of the property, money is then sent across to the appointed solicitors in readiness for completion.
Using the services of Serene Homes means that property sellers can receive money from selling a property in as little as a week, having been exposed to absolutely no fees or no delays.
Serene Homes is known as a true house cash buyer as we are not reliant upon any form of outside funding and can therefore offer a guarantee that the house sale will complete. Serene Homes also cover all fees relating to the transaction so that our customers do not need to worry about losing money or a sale falling through.
Speak to our friendly team for advice and get a valuation on your property within 24 hours.