If you’re asking yourself whether it’s a good idea to sell your property to a cash buyer in the UK or how to do it, you’ve come to the right place! In this article, we’ll look into the advantages of going down this route and the process of selling your property to a cash buyer.
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What Is A Cash Buyer?
A cash buyer can pay for their purchase of your property outright, without the need for a loan or mortgage. Essentially, the cash buyer should have enough funds to purchase your property at the time of the offer.
Cash house buyers make up a third of the residential property sale market and are often the best option for those who find it difficult to sell on the open market, or for those who have encountered unexpected issues and need to sell quickly.
What Is The Process For Selling Your House For Cash?
The process of selling a home to a cash buyer is much like the traditional route of selling a property without the need for a mortgage. It’s a favoured approach due to its speed.
The particular procedure will depend on the cash buyer or company you select, but here’s a general guide:
1. Sign Up.
Most cash buyers will have a website where you can sign up and fill out some forms. Alternatively, if you go with an independent cash buyer, they may have a phone number you can call. It’s important to check their Google or TrustPilot reviews to make sure you’re not getting scammed.
2. Receive An Offer.
The cash buyer will then give you a cash offer for your property, usually below market value.
There’s a chance they will offer market value, then try to reduce the cost later – be careful! Ask them for proof that they are a genuine cash buyer and have the funds in the bank before you accept their offer.
3. They'll Visit Your Property.
Once you accept the offer, they will visit your property and do an inspection and valuation. They may opt to do a survey, which is usually covered in the package. If they don’t, this can be seen as a red flag.
4. Instruct Solicitors.
You will either have to hire solicitors or the cash buyer will do it for you. The solicitors will arrange Local Area Searches, Regulated Drainage and Water Searches, and a Land Registry Title Plan.
5. Exchange Contracts.
Once all the legal work is done, you can exchange contracts. This is when the process becomes legally binding.
Depending on the cash buyer, you may be able to complete it at this stage. Alternatively, they may prefer to do it on their timeline.
Can I sell my UK house from abroad?
You have the right to sell your house or flat in the UK, even if you are living abroad. No laws are stopping you from selling your UK property after leaving the country.
What is a lowball offer on a house UK?
A lowball offer is a proposal that is typically 75% or less of the asking price. It is rarely accepted and can come across as disrespectful to the seller. Nevertheless, there are times when buyers may have the advantage and can make a lowball offer.
Is It Good To Sell A House For Cash?
Selling a house for cash can be advantageous in some situations. Generally, those who gain the most from a cash sale are usually:
- Attempting to avoid repossession
- Seeking to sell an inherited property
- Trying to move on with life.
Sell to us!
Sell your house quickly, without any fees, with Property Saviour! We make it easy and hassle-free to get your home sold fast.
No extra charges or hidden costs – just a straightforward way to get your home sold quickly and hassle-free. Don’t wait, start your house sale today with Property Saviour!
Property Saviour Price Promise
- The price we’ll offer is the price that you will receive with no hidden deductions.
- Be careful with ‘cash buyers’ who require a valuation needed for a mortgage or bridging loan.
- These valuations or surveys result in delays and price reductions later on.
- We are cash buyers. There are no surveys.
- We always provide proof of funds with every formal offer issued.
We'll Pay £1,500 Towards Your Legal Fees
- No long exclusivity agreement to sign because we are the buyers.
- You are welcome to use your own solicitor.
- If you don’t have one, we can ask our solicitors for recommendations.
- We share our solicitor’s details and issue a Memorandum of Sale.
Sell With Certainty & Speed
- Our approach is transparent and ethical, which is why sellers trust us.
- 100% Discretion guaranteed.
- If you have another buyer, you can put us in a contracts race to see who completes first.
- Complete in 10 days or at a timescale that works for you. You are in control.
