“I need to sell my house fast for cash.”
When the clock is ticking, you do not have the luxury of waiting for the right buyer to come along. You may not have the financial resources to spend thousands or tens of thousands of pounds on repairs, improvements and upgrades to ensure the property is “buyer ready”.” You may not have the resources to spend months hoping for a sale.
When you find yourself in this situation, you can opt to sell your house with a cash property buyer. How does it work, what services are encompassed in this process – and how much time and money will you have to spend?
How Does It Work When I Sell My House Fast for Cash?
Let’s start with a quick overview of a typical fast cash house buyer process so you know what to expect. First, you visit the buyer’s website and either request a call back or fill out a simple form requesting a free cash offer. All you need to enter is a few basic pieces of information, such as your postcode, address, phone and email.
Within 24 hours, the buyer will send you an offer in principle. If you accept, they will have valuations professionals assess the property. Some complete two valuations as part of a thorough due diligence process.
When they receive the valuation reports, the company will make a formal offer. This is contingent on contract and a RICS (Royal Institute of Chartered Surveyors) survey. Remember, you are in control. You are free to accept or decline this offer as you see fit. If you decide to continue, the buyer instructs a RICS Homebuyer Report and solicitors move on with the legal aspects of the process.
Upon completion of the Home Buyers Report and Report on Title, the process continues on to a quick house sale. Now, be aware that if either of these reports contains information on issues that can impact the value of the house (e.g. structural damage, faulty wiring, etc.), then the buyer may amend their offer. In only very rare cases will they completely withdraw an offer.
This all sounds like a lot to get accomplished – and it is. But there are no lengthy waiting periods for you. The buyer should have professionals in line and ready to go at a moment’s notice so you can move on with your sale and with your life. Your home could be sold in as little as two weeks.
What Services Are Included with a Fast Cash House Buyer?
When you choose a reputable, experienced company, the buyer offers a host of invaluable services. They will take care of the valuations, the RICS survey and report, the Report on Title, the exchange of contracts and more. These proceedings are confidential and discrete, so if it is necessary for you to achieve a sale privately, you may do so easily.
There is no need for sales boards, viewings or marketing tactics as the buyer is ready to proceed and has the financial standing in order to do so.
What Will You Pay When You Sell Your House?
With a traditional process, selling your house can cost you thousands (or even tens of thousands) of pounds. You need to cover:
- Estate agent fees
- Solicitor fees
- Surveys
- Document transmission and processing expenses
- Staging costs
- Repairs and updates to the property
- Energy Performance Certificates (EPCs are required before you can list your house on the market; with a cash buyer, they will complete this for you)
So what does it cost when you work with a cash property buyer? Nothing. Absolutely nothing. It sounds too good to be true. Rest assured, it is not. A reputable buyer will typically offer 75% to 85% of total market value. Yes, you could potentially fetch a higher price if you listed your home – but you would have to shoulder the costs that we discussed above. Additionally, you could easily spend a fortune on repairs and updates if your home is in less than great condition. A cash buyer will purchase your home as is.
So, all told, you pay nothing for these services, and at the conclusion of your sale, your money will be deposited directly into your bank account. It is streamlined, simple and… of course… fast.