Sell your Home Fast for Cash
Can I sell my House Fast for Cash?
The words fast and selling houses don’t often appear together. Currently the average time to find a buyer is between one and two months. A good time to complete the transaction of a freehold property is six weeks, a leasehold property takes eight to ten weeks.
The typical process requires the buyer to apply for a mortgage, have at least one valuation carried out, await the mortgage offer and then join the solicitors queue to complete the purchase. It seems the average time to sell a property from start to finish is 14 weeks, that’s providing there are no issues.
There are a number of issues that can prevent or rapidly slow down a house sale.
These common issues include:
- Damp problems
- Legal issues i.e. plan of the property
- Mortgage company wants the borrower to jump through hoops
- Structural issues
- Buyers pulling out
Cash Buyer House Sale
There are a number of reasons why a seller may wish to sell a property quicker than 14 weeks.
The common reasons are:
- Financial circumstances i.e. run out of money, debts,
- Facing repossession
- Business acquisitions.
- Tax bill
- Problem properties
In each of these scenarios the seller may wish to complete the transaction by disposing of the property to an investor rather than using an estate agent.
In all circumstances the transaction can be completely anonymous. The property won’t be advertised on Rightmove or Zoopla and the investor will carry out their own due diligence and necessary surveys.
The solicitors used are aware of the type of transaction and the investor pays for the legal costs to ensure a speedy service.
Cash Investors – Sell my Home for Cash UK
Cash investors don’t need to use the banks money to obtain a mortgage, they are able to complete the purchase in less than half the time an average purchase takes to complete. For that privilege of speed and certainty they expect a discount.
In some cases a discount may not be required, if the land or property is in a high demand area the buyer may be willing to purchase the land or property as there will be no competition.
If the land or property is advertised to the mass market the investor can lose interest as they don’t want to be entered into a bidding war.
Whatever your reason for selling, feel free to get in touch as Smile Property Buyers are specialists in assisting in all aspects of fast property sales.