According to a 2022 study by Zoopla, on average it takes nearly 6 months to sell your house with an estate agent. This means it takes even longer than that for an unlucky half of home sellers.
With such a long wait, it’s only natural that alternatives would emerge… that’s where Cash House Buying Companies like ours come in.
So let’s start with the basics. What is a Cash House Buyer?
Cash House Buying Companies buy homes directly from sellers. They pay less than market value but offer a much faster and more certain way to sell your house compared with estate agents or property auctions. They’re also willing to buy any property, even if it has issues.
1. Are Cash House Buyers your best option?
Genuine Cash House Buyers are a very good option if you want to sell your house quickly. They can make you a formal offer within 1-2 days and buy your home within 2-3 weeks. However, because they may pay a reduced price for your home, they aren’t right for everyone.
2. Benefits of Cash House Buyers
Let’s face it: selling your house with an estate agent is a pain. Why is it so bad?
- Delays. On average it takes almost 6 months according to a 2022 study by Zoopla. For the unlucky half of home sellers, it takes even longer than that.
- Stress. People don’t just complain about the time it takes to sell though. The whole sale process is stressful too. You’ve got to deal with estate agents, conveyancing solicitors, buyers, and mortgage surveyors. It’s a headache.
- Uncertainty. Even if everything’s going to plan, there’s still a chance everything might fall apart. (For example, we surveyed 305 recent home sellers and learned that an incredible 31% had a sale fall through at least once).
So, the best part of selling to a Cash House Buyer is you’ll avoid a lot of the delays, stress, and uncertainty that drive home sellers mad when they sell through an estate agent.
Here are some of the specific benefits you’ll enjoy if you choose to sell your house to a cash house buyer.
Pro #1 – Speed
As we’ve covered, the average house sale takes around 6 months. Selling by auction is faster, but it still takes around 10-12 weeks.
So, is it quicker to sell to a cash buyer?
Selling to a cash house-buying company is much quicker than selling through an estate agent or by auction. You can sell to a Cash House Buyer in as little as 2-3 weeks, but the timeframes are flexible. This means you can set the completion date to suit your plans.
How do Cash House Buyers work so quickly?
When normal house sales take around 6 months, it seems crazy to think some companies can buy your house in only 2-3 weeks. Here are the important changes they make to the process to buy homes so quickly:
1. They buy from you directly. You don’t have to deal with estate agents, wait for viewings to come along, negotiate offers, waste time with unqualified buyers, or wait on other people’s house chains.
2. They have their financing ready. Because Cash House Buyers will either buy your house with cash or with a large commercial lending facility, they won’t be waiting on mortgage lenders like ordinary buyers do. They won’t need to sell a house to buy yours like many normal house buyers.
3. They have an experienced team. They can act quickly and decisively and can work around complicated legal issues that crop up. They’ll be more comfortable taking out insurance policies too, allowing them to avoid a lot of the problems that delay estate agent sales.
4. They offer quickly. You don’t need to wait for viewings or offers. Cash House Buyers carry out a thorough valuation quickly, then submit their offer the same day. We can make you a formal offer (backed by a guarantee) within 24-48 hours.
5. They use the best solicitors. Fast completions are crucial to a House-Buying Company’s business, so they’ll have long-established relationships with fast, proactive solicitors who do everything by phone and email. (No waiting on the post for important documents!)
6. They’re service focused. Because their acquisitions are of higher value than normal real estate agent sales, they’ll invest more time in the service they deliver for you. This means more communication. You’re kept feeling up-to-date and in control, and it means any issues are identified and resolved quickly.
Pro #2 – Certainty
Most people think that when they choose to sell their house, it’s a sure thing that they’ll sell. Unfortunately, this isn’t the case:
- Real Estate Agent success rate: According to research from financial services firm Jefferies, estate agents only sell around 51% of the properties they take on. My personal experience pretty much mirrors this as well.
- Property Auction success rate: Property auctions offer a much higher chance of success, but it still only hovers between 70-80% for most auction houses.
- Cash House Buyer success rate: Selling to a Cash House Buyer offers complete certainty though: if you accept their offer then the property will sell.
Pro #3 – Their “We buy any house” approach.
One of the key selling points of Cash House Buyers is that they’ll buy any house. It means they’ll make you an offer regardless of the property’s condition, how messy it is inside, or how severe any issues are.
Pro #4 – Sell your house as-is.
Another benefit of using a Cash House Buyer is that you can sell your house as-is. No need to refurb and redecorate before you sell (and there’s no need to have the scent of freshly baked bread permeating through your home for house viewings).
House-buying companies are commercially minded and won’t be swayed by clutter, mess, or a much-needed renovation. You can easily sell your house as-is, and just move on.
Pro #5 – No viewings
On a similar note, you won’t have to carry out any viewings. No tidying the house up to impress strangers, no having them traipsing through your home. You simply agree on a price with the company and get ready to move on.