Everyone wants a fast house sale. When you find a suitable buyer in a short time, it reduces your stress and costs.
Plenty of people are turning to cash house buyers to achieve this.
Cash buying companies can buy your house in a short timeframe. Many of these businesses achieve sales within a matter of weeks.
This is much faster than the average estate agent, where a sale takes around 5 or 6 months.
You are in the ideal place if you want to learn how to sell your house fast for cash. Keep reading to find out.
Can I sell my house fast for cash?
Yes, you can sell your house fast for cash.
There are many ways to do this, with cash buying companies arguably the most common. Cash buying companies are in almost all parts of the UK.
They also buy properties in any condition. This is ideal if you have inherited a house that you don’t want. For example, you can sell your house even with:
- Asbestos
- Sitting tenants
- Squatters
- Japanese knotweed
- A short lease
- Broken doors or windows
- A hole in your roof.
You must be the legal owner of your house to sell it. An advantage of this route is that the sale completes quickly. You also avoid property chains that often cause sales to fall through.
There are drawbacks to selling your house fast for cash, too. Not all cash buyers are legitimate, so you should do careful research. It’s also worth avoiding restrictive contracts.
Where in the UK do most cash buyers operate?
You can find trustworthy cash buyers in most major cities across the UK.
Large organisations like Sold.co.uk have bought properties in every corner of the country. This includes Scotland, Wales, Northern Ireland and all parts of England.
A quick Google search will reveal cash buyers near you. An estate agent may also be able to point you in the right direction.
There are steps you can then take to ensure they are trustworthy. We outline these further in the blog below.
What is the process when selling to a cash buyer?
A trustworthy cash buying company allows you to make a no-obligation enquiry.
Once you get in touch, they will contact you directly to discuss your details and make a cash offer.
If you accept the offer, you’ll be asked to complete simple paperwork. You should ask for legal support with this if you feel uncertain.
It is important that you feel comfortable every step of the way. An expert can explain what the contract says.
One or two RICS surveyors will visit your house to confirm the valuation. You then receive a written offer from your cash buyer once they have inspected your house.
It is up to you whether you accept it or not. You can try to negotiate, but not all companies are open to this.
You’ll then need to provide documents that prove your identity and property ownership. The cash buyer handles the rest of the process. Completion day will be on a date that both parties agree.
You should receive funds in your account within 24 hours of completion day. Speak to your cash buyer to confirm this timeframe.
The bank usually causes any delays due to the large sum of money transferred.
Cash buying companies such as Sold.co.uk sell your house for free. You don’t need any money up-front to contact us.
We offer a below-market rate for your house to compensate for this free sale. We’ll also cover your legal fees.
How much do cash buyers pay for a house?
A cash buyer will offer a lower figure for your property than using an estate agent.
- HomeSellingExpert.co.uk says the offer will be around 80% to 85% of your property’s value.
- Meanwhile, Sold.co.uk indicates that the lower side of offers will be around 78% of the value.
This figure can vary based on the property’s condition. Contact a cash buyer for a valuation specific to your situation.
Are all cash buyers trustworthy?
No, not everyone that claims to be a cash buyer is trustworthy. You should therefore do careful research before committing to a sale.
You can confirm whether a cash buyer is trustworthy in a number of ways. These include:
- Read online reviews
- Speak to past customers
- Confirm they have an online presence
- Ask for proof of funding
- Check credentials and accreditations
- Verify on company’s house.
You can bring in others to help with this confirmation process. A solicitor can check up on the cash buyer to add credibility to their claims.
Confirm the flexibility of your cash buyer as well. They should be able to proceed quickly without the need for a chain.
Lastly, remember that if it seems too good to be true, it probably is. Your cash buyer should offer below the market rate.
If they offer full value for your property, this is suspicious. Quiz them about their valuation and funding.
Other ways to sell a house for cash
A cash buying company is the fastest way to sell a house for cash. But it is not the only way to sell property.
Auction houses usually attract cash buyers. Solo property developers often attend these to get a bargain. Once again, you can sell your house in any condition here.
The process can take a month or two from start to finish, though. This makes it slower than a cash buying company.
You can find solo cash buyers in your area that can buy your house.
Ask friends and family if they have any contacts. If a new construction project is near you, ask for details about the investor.
An estate agent might also point you in the right direction.
Common reasons to sell a house fast for cash
You are not alone if you want to sell your house fast for cash. There are lots of reasons this may be advantageous.
The main reason people pursue this option is financial difficulties. This could include:
- Buyer withdrawn from a previous sale
- Debt due in a short period
- Facing repossession
- Made redundant
- Offloading a Buy to Let.
Convenience is another common reason. Inheriting a house from a loved one is not in most people’s plans.
If they don’t want to maintain it, bring it up to scratch or rent it out, selling it can be most accessible. This is especially useful if the property is in bad condition.
Divorce is another common reason to sell a house fast. Each partner may want a ‘clean break’ as quickly as possible. A reduced price may be worth minimising contact with each other.
Are there any times when I cannot sell my house fast for cash?
You cannot sell your house fast for cash if you aren’t the legal owner.
If several people own a share of the property (tenants in common), then more than one person’s approval is needed for the sale.
If your house has already been repossessed, you cannot sell it. You may also be unable to sell it if it is an active crime scene.
You should speak to authorities in this situation for guidance.
