Offering cash for a house is something that has gone on for centuries. Technically speaking the only true way of selling a house fast is via a cash offer, and this is where a lot of companies on the internet fail to deliver on their promises.
Let’s first look at what a house cash offer is not. A cash property offer is not someone saying they will purchase a property for cash, and then apply for a buy to let mortgage. Any type of mortgage or loan that is used to purchase a property is not a cash house sale. If a company says they will list you on the open market to ‘find a cash buyer’, again, this is not a cash property sale. They are simply listing you on the property portals – no different to what a local estate agent could offer you.
A true cash offer on a home is simply this:- Mr Jones needs £80,000 to sell his 2 bed semi-detached house. The property is in poor condition and he is unable to sell on the open market due to the refurbishment work that is needed. A ‘real cash buyer’ comes along, and offers Mr Jones the full £80,000 as ‘cash’, and completes on the sale in 7 – 14 days via a solicitor. There are no mortgages to apply for, there is no need for an estate agent and in theory there should be very little to delay the sale.
At TopCashOffer.co.uk we pay cash for homes; it’s what we do best! We have the funds ready and waiting to purchase all types of property quickly and for fair offers. What’s more, we purchase property across the UK, including Wales and Scotland.
We hope this gives you a better understanding of how cash offers on houses generally work, and how you can avoid any pitfalls in the future. Whether it is dealing with a cash buyer on the open market, or dealing with a cash house buying firm.