There are many advantages of selling your home to a cash buyer. The simplest is that it breaks any property chain. If you are relying on many people in a chain to sell their property in order for you to sell yours, then there are many potential places this can go wrong.
You could wait months for the whole chain to come together, especially if it is several properties long. A cash buyer will take all of this stress and potential heartache away.
This also means that the buying and selling process becomes quicker. The buyer is able to obtain the property much quicker and the seller can move into their next property swiftly. This is ideal if you want or need to move for a reason, such as –
- Change of jobs
- Move on to another investment property
- Get the kids into a new school
- Need to raise funds
As already mentioned, cash buyers are able to complete much more quickly, within one to three weeks in some cases. Accepting an offer from a buyer that still needs to gain a mortgage can be a risky process. There are many reasons why a mortgage could be declined, and you could end up needing to start again with looking for a buyer.
With cash, the same risks are not present. As long as you are satisfied that the cash is accessible, then you can rest assured that the deal won’t fall down on the back of a mortgage lender changing their criteria or withdrawing a mortgage offer.