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Cash buyers' quick house sale solutions explained..
We've dealt with these already, so let’s show you how it can work. After all, there are more tried and tested ways of selling your house .. So what is it about these ‘solutions’ that can make them attractive?
A cash property buyer who genuinely wants to help you will be looking beyond the obvious (the cowboys don’t) and is successful because they focus only on one question: How can I help this seller? Sometimes this requires a certain amount of creativity to come up with a win-win situation. A quick house sale - yes. But put together in such a way you're happy to pay for it (indirectly).
To recap for a moment: The quick house sale service offered by cash buyers is only possible because the cash buyer is generally buying at a discount to open market value. Effectively the discount pays for the service.
Quick house sale solutions don’t come cheap – many house seller situations are not straightforward (as some of our examples below show). Cash buyers offer a specialist buying service running to tight timescales that the average ‘house buyer in the street’ can’t match, has no interest in providing or involves property that doesn’t appeal to the average buyer.
A cash buyer would say that the discount reflects the cost, risk, time and effort that goes into devising a quick house sale solution, then making it happen. The 'making it happen' bit requires commitment and determination. The plain truth is that many of the processes involved in making a quick house sale happen are resistant to being speeded up!
One reason it’s impossible to be specific about the level of discount is that unless a cash buyer always looks for the same level of discount (some long-term investors pretty much stick to 15%) each ‘solution’ varies on a case by case basis. The solution rarely lies in the answer to ‘How much will you give me for my house?’
Unless it suits you (and we can’t think why) avoid the kind of buyer who turns up, views the property, spends ten minutes with you, then leaves only to work out some figures and pop them in the post. These people are simply not deserving of your time.
Quick house sale solutions - examples The house seller facing repossession and debts
A recent divorcee with three children and repossession looming. Her house is worth around £160k to £170k but the outstanding mortgage is £120k with a further £15k of debts and no immediate prospect of income coming in. What happens? The solicitor contacts the lender saying there is a cash offer on the table, and they accept. The house seller caught in a chain A retired gentleman intending to relocate to Spain which has been his long-term goal for longer than he can remember. His three bed detached UK home sticks on the market for 14 weeks at a price of £225k. The seller recently lost some mobility and has moved in with relatives while his home is on the market. In the meantime because of the delay in selling his home he is unable to make the next stage payment on his new home in Spain.
What happens? The reluctant house seller A single parent with two missed mortgage payments under her belt. Her lender is unhappy. Her current relationship has broken down, and her partner has moved out. She is now trying to make the mortgage payments on her own. She is currently working part time – but needs time to find a second job or a new job. The property is worth in the region of £180k, with a mortgage of £126k. The house is currently not on the market with agents and needs some work. What happens? The unhappy house sellers Two work colleagues co-own the property and are being harassed by other residents of their small block of flats. They are desperate to move but have not had time to put the house on the market with agents. They have decided to sell and then buy separately. The flat is worth in the region of £150k. What happens? So there you have it. Cash buyers’ quick house sale solutions come in all shapes and sizes - or can do if you find the right cash buyer. Under some circumstances, it’s possible for cash buyers' quick house sale solutions to help people resolve significant issues in their lives. The questions to ask yourself are what is driving your need for a quick house sale and what do you need to resolve your property problem so you can get on with your life.
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