Companies that buy houses for cash are on the rise in the UK as more and more people want to sell their homes and properties quickly. This is often the result of one of the following situations:
The breakdown of a relationship is a stressful time, especially when there are shared assets like a house to consider. As tensions increase and communication often breaks down, working out what to do with a property becomes more and more difficult. It’s often too much of a financial strain for one person to take control of the mortgage, so selling quickly becomes the most viable option for a clean break.
Inheriting a property located too far away to manage or is in a state of disrepair can cause financial and emotional stress as bills and upkeep costs start to come in. Selling quickly is often the most sensible choice before the situation gets out of control.
The threat of eviction is extremely stressful and often frightening. The only viable solution to prevent a repossession is to sell quickly and release funds. It’s a difficult choice to make, but avoids long-term financial implications such as a poor credit rating.
The need to relocate is often driven by a change of circumstance, like a new job. Most people can’t afford to a pay their current mortgage as well as commit to renting in their new area while they wait for a sale to go through via an estate agent. A cash sale in a few days is therefore often the best option.
Downsizing is a popular way to free up money and release equity especially as people move into retirement. A secure cash sale removes the hassle and stress of the traditional process for many.
Benefits of a property cash buying company
Beyond speed, there are also many more benefits to property cash buying companies versus their traditional counterparts, for example:
- Minimal risk of buyer drop out
- Cash buyers aren’t reliant on third parties for funds; they have the cash readily available.
- Cash buyers aren’t reliant on third parties for funds; they have the cash readily available.
- Sell your property as seen
- Companies like Hull Cash Buyers will buy a property no matter what state of disrepair it is in. So you don’t need to waste time or money putting things right; you can just walk away with money in your pocket within a few days.
- Companies like Hull Cash Buyers will buy a property no matter what state of disrepair it is in. So you don’t need to waste time or money putting things right; you can just walk away with money in your pocket within a few days.
- No selling fees
- Cash buying companies aren’t estate agents, so they are not structured the same way. They don’t charge selling fees as there is no middle man; they deal directly with you as the vendor.
- For example, on a property worth £100,000 standard estate agent fees will be between 1-3%. That is a fee of £1,000-£3,000 that you would owe them upon completion.
- For example, on a property worth £100,000 standard estate agent fees will be between 1-3%. That is a fee of £1,000-£3,000 that you would owe them upon completion.
- Cash buying companies aren’t estate agents, so they are not structured the same way. They don’t charge selling fees as there is no middle man; they deal directly with you as the vendor.
- Simple process
- As there are no third-parties, home buying companies will drive the sales process from start to finish to make it as quick and hassle-free as possible.
- As there are no third-parties, home buying companies will drive the sales process from start to finish to make it as quick and hassle-free as possible.
Benefits of a local company vs national company
Local companies, like Hull Cash Buyers, conduct on-the-ground house viewings. This means that they judge the property on an individual basis, and will offer a fair price.
Conversely, national companies rarely ever visit properties and instead rely on machine-led desktop valuations, operating on an average of the area and ‘similar’ properties. They have no means of valuing on a case-by-case basis and no local reputation to protect, so will either offer lower than local companies from the offset, or offer an inflated price at the beginning with every intention of reducing the price during the process, and even on the day of exchange.
Hull Cash Buyers
Hull Cash Buyers has over ten years experience of buying and selling property in Hull and East Yorkshire; we know every street like the back of our hand. So if you live in the area and want to sell your home quickly, then get in touch with us on 01482 655346 and we will guide you through your selling options. We make a cash offer on every property we see within 24 hours.