Who Will Buy My House For Cash?
There are two types of property buyers – those that require a mortgage from a lending bank and those that buy cash. Cash buyers are almost always the preferable option as they can move much faster and there is no risk of the buyer’s mortgage being rejected, meaning that there is less chance that the sale will fall through. Mortgage buyers also often have a property to sell so this can make the process much longer. The typical timeframe to sell a property to a mortgage buyer is 6 to 12 months.
Are All Cash Buyers The Same?
Not all cash buyers are the same. There are those cash buyers who are individual – often investors – and there are what are called cash buying property companies. More information can be found on our What Is A Cash Property Buyer page.
Serene Homes is an example of a property cash buying company, which is self-funded with no requirement to find an external investor or find a mortgage buyer. This reduces the typical timeframe to sell a property from 6 to 12 months, to 1 to 2 weeks. This is drastically different and although Serene Homes pay less than market value, the overall sum received by property sellers once all costs and time are factored in, is often not that different.
How Do I Find A Cash Buyer?
The first decision to make when trying to find a cash buyer is whether you want to sell on the market or pursue a private sale. The main difference being that an on-market sale means making your property available to the general public, whereas a private sale means dealing only with a select person or company.
If an on-market sale is chosen, then the first action required is to find an estate agent and agree upon a fee to sell the property. This varies but is usually between 1% to 3% of the sale value of the property. There are also then legal fees to factor in as legal work is required to complete on the sale of any property in the UK.
Once an estate agent is chosen, then they will get to work taking pictures of your property and creating marketing materials. They will then list these details on portals such as Rightmove and Zoopla. It can be a lengthy process so it is important to include these tasks in your expectations of how long it can take to sell a property.
When everything is ready, the property will be advertised and made available to the general public. If you are seeking cash buyers only, then you can instruct an estate agent to accept offers only from cash buyers, but this reduces the number of potential buyers considerably. So, the property may sit on the market for a long time.
The alternative option is to use a cash buying company such as Serene Homes, which guarantees to buy every property for cash, once the final price has been agreed upon, with an expected timeframe to complete on the house purchase in as little as 7 days.
What Is The Process Of A Property Buying Company?
The way in which property cash buying companies work is different than estate agents. The process is very simple and involves only three simple steps:
- Contact Serene Homes by registering on their website at www.serenesale.com
- Accept an initial cash offer for your property and agree upon a date for a free valuation
- Accept a final cash offer for your property and move ahead to completion of the sale via the appointed solicitors.
There are a number of advantages of using a property cash buying company such as Serene Homes, on top of the much shorter timeframe to sell a property. Serene Homes offers a very simple, hassle-free service and covers all fees including legal and survey fees. You are never tied into any contract prior to a normal exchange of contracts and you are free to accept or reject the cash offer made to you after the completion of the free valuation.
What is very important is to decide what your objectives are and what is best for you. If you are happy to wait 6 to 12 months to sell your property and you accept the risk of sales falling through, then an on-market sale via an estate agent may be the best option. If you are looking for a fast and guaranteed house sale, then contacting Serene Homes may well be the option more suited to your needs. In particular, if you have found your next dream home then Serene Homes can guarantee to buy your house and remove any risk of your onward purchase falling through.
As a minimum, every person who contacts Serene Homes and accepts an initial cash offer will receive a free valuation on their property. This will provide a useful insight into what your property is worth and what cash price you would be willing to accept, or whether you would rather wait longer and accept an offer from a mortgage buyer.
Contact our friendly team today at Serene Homes to receive a free valuation on your property and sell your property cash with a guaranteed hassle-free service in as little as 7 days.
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