Selling a house is not always an easy task if you do not know where and how to find a cash buyer for the property. The house can stay on the market for a really long time if you do not know where to look. There various ways of finding a buyer to purchase your house but they will depend on the reasons why you are selling and what your priorities are at the moment. The alternatives to choose from include the following:
How to find a cash buyer to purchase your house
Quick House Sale Company
If you want your house to be purchased faster rather than get the best price for it, then you should think of contacting a` `quick sale“ company. They will buy your house in less than a week in most cases at a price that is discounted. They can also find you a third party customer for you to buy the house and pay cash for the property quickly at a discounted price based on the market value.
Why use a quick sale company
- They can help the client to avoid repossession, clear debts and even help in sorting out financial problems that might be facing the seller of the house.
- They can help in disposing of a property that had been inherited.
- They can help you to find a new avenue to sell if you are unable to do so through a house agent.
- They can help you to get money faster to relocate due to a change of job or just to emigrate.
- They also help you to sell the property to get cash in case of a divorce or breakdown of the relationship
Tips of how to deal with quick sale companies
- Shop around to see what other quick companies are offering.
- Check the company`s credentials to ascertain if they are genuine and registered with The Property Ombudsman.
- Try to negotiate the price and terms with the Company.
- Only accept written agreements and refuse verbal assurances.
- Take your time to make a good decision and do not allow yourself to be pressured.
- Only assent to the agreement after you have read it carefully and understood it.
- Refrain from long tie-ins.
- Be honest in the details you provide regarding the house.
- Insist on seeing the survey.
- Do not also rush to commit to the contract too early as it may be a raw deal.
Use a traditional estate agent
The traditional house agents can help you to establish the price that would get you a quick sale for your property. They can help you to get a fair deal with liable clients without losing funds like through the Quick house sale companies. With them, you may only need to drop the house price by even less than the 25% discount rate needed by the Quick sale companies.
When your house is in the market you will come across a lot websites and companies that will claim to be in a position to buy the house fast. Beware that only a few companies in the United Kingdom are actually genuine, offer fair prices and promptly find a solution to the property challenges that might be facing you at the moment. As such, you should be aware that not all companies out there are genuine cash buyers of houses even thoough their slogans and websites might suggest otherwise. These companies will buy using mortgage finance and will even go as far as tying to an “option contract“ that will stop you from selling the house elsewhere while on the other hand they will be finding a buyer or securing mortgage funding. Hence, the process will be risky and the sale not guaranteed.
How to spot a cash buyer that is not genuine
- The buyer will ask for some upfront payment.
- The buyer will ask you to commit yourself by signing a “lock-in“ contract or an “option agreement“.
- The buyer`s formal offer may not be based on independent valuation from a Surveyor chartered by RICS.
- The buyer is not willing to disclose information regarding past for proof of customer service levels.
- The buyer cannot provide “proof of cash funds“ when you request for them.
- The buyer cannot share with you or your solicitor the valuation report from RICS.
With all the information mentioned above, you surely cannot make the wrong decision.