Selling your house for a cash sum to a professional property firm like Open Property Group makes the process much easier. This is because there is no need to wait for your estate agent to find a buyer. Meanwhile potential buyers don’t need to find a mortgage. This reduces stress, while also saving time and money.
If your property is un-mortgageable
Selling your house for cash is also the perfect solution if it’s in need of building work or modernisation. There may be an issue with the property that makes it impossible for anyone interested in buying your home to get a mortgage. The reason for this could be its poor condition, for example, a major structural defect could render your home uninhabitable, as could subsidence, or fire damage.
Such issues could also relate to poor construction, such as, if your property is made with materials prone to deterioration, or those later proven to be dangerous (such as asbestos). It is likely that all lenders will deem these properties un-mortgageable. Meanwhile, the use of red shale in the foundations could be the cause (either now or in the future) of serious subsidence.
Avoiding long selling chains or repossession
If you wish to move quickly and avoid waiting on a long chain or for a mortgage offer to come through, then you may wish to sell property for cash. Or if you are heavily in debt, you may wish to sell your house quickly to pay your creditors or to prevent repossession.
Banks and mortgage lenders will typically refuse to lend on homes with short leases, and properties a seller has owned for less than six months. They may also refuse to lend against properties with lease defects, sitting tenants and land registry boundary or title disputes.
There are numerous reasons why some homeowners prefer to sell houses to cash buyers only. Yet research from Open Property Group confirms that the most common reasons for requesting cash for property include speed, certainty, simplicity and the hassle-free nature of the transactions. They have a 5 star feefo rating.
One of the best ways to sell your house for cash is to find a buyer who doesn’t need a mortgage to finance the purchase. This is because the buyer can make a quick decision. What’s more, they don’t have to worry about whether the bank or mortgage lender is willing to finance the purchase of the property.
If you are looking to secure a 100% cash sale then advertising the property with a notice advising interested parties that "This house can be sold to cash buyers only" is a great way to discourage timewasters from showing interest. It would also be wise to ask those claiming to be a cash buyer for proof of funds - this helps save time, money, and effort.
Do you own a house that you wish to sell to a cash buyer? If so, you need to ensure that you are dealing with an experienced buyer who can purchase your house within the timescale that you wish to move home.
Open Property Group are professional home buyers and offer cash for houses at attractive rates. It doesn’t matter whether mortgage lenders are refusing to finance its purchase. Whatever the reason you wish you to sell your home, a great way to do so is to take advantage of Open Property Group’s Sell House for Cash scheme.
We believe that every property has a value. It doesn’t matter what its condition or its location – we promise to offer you a guaranteed cash sum. While many of our competitors involve estate agents and other middlemen in the process – we do not. We invest in property and our portfolio is constantly growing, which means we can afford to hold onto property for longer than a private seller.
We can work to your schedule to help make the process of selling your home both easy and painless. To find out more about how it works, just follow the link to find out how easy it is and check out our case studies from happy customers.
We are here to give you a way to achieve an instant sale, with no agent’s fees - we even pay your legal costs. If you’re looking for ways to sell your house fast, then contact Open Property Group today for a free, no obligation offer on your home.
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