What is a cash buyer

Someone who is able to buy, without needing to take a loan or mortgage.

Why is cash king

Unlike other methods of selling a property, when a cash offer is accepted on a house, the sale is almost guaranteed to close. The cash buyer should provide proof of his funds before the offer is accepted.

The process is much faster

When selling a house for cash the property sales are often much quicker and straight-forward. If a person needs to secure a mortgage or loan from the bank, it is not instantaneous; they can expect to take 30-45 to close.

A cash buyer, on the other hand, are ready to move in almost immediately. They can be in their new home in a matter of weeks, once the legal checks and surveys are completed. A cash buyer doesn’t necessarily have to carry out surveys or appraisals – unlike mortgage buyers – so they may even want to move in straightaway.

Cash offers are often less

Cash buyers often put in an offer that is below asking price, in the hope it will be accepted because it’s a much faster process. Some property sellers decline cash offers because the offer has simply not been close enough to the asking price. However, if you are looking for a chain-free, quick house sale that is less likely to fall/encounter any problems, cash buyers are the perfect option for you. However in this market even cash buyers know to bring their highest and best.