Sell Your House for Cash!

Cash isn’t something that most of us associate with the property market; today’s housing market is, by and large, propped up on a system of credit. Most of us can only afford to buy houses by getting a mortgage with a lender. Whilst this system of credit works well in times of boom, in recession home owners can be faced with increasing problems as money lenders tighten their belts. Property prices have suffered as demand for housing decreases, stagnating the property market and making it harder for home owners to sell their houses and release the equity in their property should they need to.

Who should consider selling their house for cash?

Selling your house for cash is a viable option for anyone looking for a quick sell. The reasons for this could vary. It suits those in financial troubles, having problems paying their mortgage or facing repossession, selling your property for cash guarantees a quick sale in which you will receive cash straight to your bank account: allowing you to pay off your debt. Often life won’t wait for the slow sale of a house in a struggling market so selling your home quickly for cash could be a welcome choice for those relocating or emigrating, or perhaps someone who is moving or down-scaling their property for health reasons. A cash sale is also a quick and easy way to divide assets in the case of a divorce or bereavement, allowing you to concentrate on what is important. With the housing market slowing down more and more people are frustrated with a lengthy estate agent process that doesn’t guarantee a sale and often falls through if the property chain collapses. In fact a cash-sale is appropriate for anyone looking for a hassle-free, quick sale. There is no need to refurbish your home and property is accepted from anywhere in the UK.

How long does a cash sale take?

The biggest advantage of a cash sale is that it is quick. Submit your property details to a fast-sell website and you could have an offer for your property within 24 hours – a luxury that estate agents certainly can’t offer. If you are happy with your offer the whole transaction could take less than 28 days. There are three reasons why using an online cash property buyer is faster than selling your home using traditional channels. Firstly you don’t need to go through an estate agent. Secondly they are paying cash, so there are no complications with mortgage lenders. Thirdly, and most importantly, unlike usual house-sales, where there is not a complex matrix of houses being bought and sold, there is no chain: the sale of your property does not depend on other houses.

What are the drawbacks of a cash sale?

Releasing the equity of your property quickly, unfortunately, comes at a price. You are likely to receive a cash offer that is 70-75% of the market value of your house. On the face of it this seems like a lot but if you consider the speed of the service, the benefits of receiving cash from the sale and the fact that you avoid estate agent and solicitor fees, the benefits of a cash sale could well overshadow the difference in price. Furthermore you could lose more money in the long run waiting for your house to sell in an unpredictable market.

The only other drawback remaining is how to choose in a market full of different fast-sell companies offering cash for your house. The answer lies in doing your market research and using price comparison websites in order to ensure that you get the best offer from a company you can trust.