When the time arrives to sell your property, there are a number of different options available to you. It is common for people in the UK (and indeed around the world) to sell their house ‘on the market’ with the help of an estate agent. However, this is not the only route available to you.
Selling your house to a cash buyer, like WeBuyAnyHome, is an excellent option for many people in the UK. There are several advantages to taking this option which enables you to sidestep the pain points of selling in a more traditional way.
So, what exactly is a cash house buyer? And should you accept an offer from one? Our blog below will provide you a clear answer to these questions.
What is a Cash Buyer?
A cash buyer in the UK is a business which will buyer your house for cash, up-front. These deals can be completed much more quickly than a traditional ‘on the market’ sale – sometimes, they can be done in as little as seven days.
A cash buyer will use tools such as HM Land Registry, along with other online platforms, to value your property. While the offer they provide will be slightly less than what you may typically receive on the market, you will also be receiving the cash straight away, which is considered a huge advantage by many. You will also save any additional costs associated with selling a house, such as estate agency commissions and (in many cases) legal fees.
There are lots of cash buyers throughout the UK, but some of these organisations are more reliable than others. This is why you should conduct thorough research before committing to one business, as not all companies posing as ‘cash buyers’ are trustworthy and reliable. As an example, some businesses act on behalf of other organisations and may charge extra fees for services such as arranging surveys. Meanwhile, others may attempt to profit further by selling your information to third parties.
Where do Cash Buyers operate in the UK?
Cash buyers operate throughout the UK and can be found in most major cities. A company like WeBuyAnyHome, for example, operates in most cities throughout the UK.
There are some cash buyers which specialise in certain areas – i.e. they only have premises in one city, rather than several throughout the country. However, for these smaller and less reputable firms, it is always worth making sure that they are a trustworthy company to work with, and that they have the up-front funds to buy your house.
Advantages of a Cash Buyer
There are several advantages to using a cash buyer, which is why many people in the UK choose this route over more traditional ‘on the market’ options.
Firstly, you are guaranteed a sale of your property when you go through a trustworthy cash buyer. This is because the company is buying your house with their own funds, and are therefore not relying on third parties to give them the funds to do so.
Secondly, a cash house buyer can purchase your property within a timeframe of your choice. This means that if you want the sale completed within 7 days, in two months, in half a year, or any other period, they will be able to make it just so.
Thirdly, selling to a cash house buyer will often reduce the fees that you have to pay. For example, WeBuyAnyHome doesn’t take any commission on the sale (unlike an estate agent) and we also pay for your legal fees. These financial advantages can go some way to balancing out the slightly reduced price that you receive for the house.
Should I Accept a Cash Buyer for My House?
There are lots of factors you should consider when deciding whether to sell to a cash house buyer, or go down the traditional ‘on the market’ route.
If you are keen to receive the funds for your house sale quickly, then a cash house buyer could be an excellent option. You may also prefer a cash buyer if you want to avoid property chains, along with the legal complications of working with a solicitor.
On the other hand, if you are in no rush to sell your property, then it is worth considering all your options elsewhere. For those people who are not struggling with cash flow, and don’t mind the hassle of getting involved with a property chain/solicitor, selling on the market may be a more viable option.
Sell your property with We Buy Any Home
Using our own funds, we will purchase your property at a set price, by a date of your choosing, fully managed from beginning to end.
Any location, any condition, we buy any house. We can provide you with an offer for your UK property – Cardiff to Clyde, Durham to Dover. Our specialist team have helped assist thousands of people to a quick and stress-free house sale.
Fill in our enquiry form below if you are interested in getting a cash offer for your house.