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Why Do Property Companies Ask for Cash Buyers Only?

Any seasoned homeowner will be familiar with the cash buyers only condition that some vendors place on the sale of their property. An occasionally misunderstood term, cash buyers only simply refers to the vendor stipulation that only buyers that do not have to get a mortgage to purchase the property will be considered.

There can be many reasons why property companies are instructed to market homes to cash buyers only. The motive to instruct property companies to only accept offers from cash buyers only depend on the condition of the property and the motivations or mindset of the vendor. Below is an overview of some of the reasons why vendors instruct property companies to accept cash buyers only.

In a poll of 14655 companies across the UK, Springbok Properties was voted #1 in terms of customer service. We aim to provide every one of our customer with a transparent and helpful service. We have a network of cash buyers only which means we can successfully market and sell your home in a fraction of the time of traditional high-street estate agents. To view our current property listings, call us TODAY on: 0800 068 4015.

 

The Structural Integrity of the Property

Mortgage lenders will always do their due diligence before granting a mortgage application. Not only does this involve examining the finances of the buyer, whether they are cash buyers only or not, but the state of the property that they intend to purchase.

If the vendor is aware that the structural integrity of the property is questionable, they may request that cash buyers only make offers. Mortgage companies may refuse to grant a loan to buyers, it they feel that the property doesn't represent a safe investment on their part.

This, most often, becomes a factor with property developers who intend to completely renovate and restore the property they are buying. Cash buyers only should remember that before they commit to purchasing a property, they should ask a surveyor to examine the entire property, including the roof, before committing to a purchase.

Springbok Properties agree the sales of three of every four homes listed in under 8 weeks. We proactively market homes to our network of cash buyers only across the UK to secure that quick and hassle-free sale. To find out our current listings across the UK, contact us TODAY on: 0800 068 4015.

Vendors Previous Experience and Mindset

Many vendors specify for cash buyers only because they have endured the frustration of seeing a previous offer fall through after the buyer has been refused a mortgage.

This can be a particularly common occurrence in an inflated house price market, or if an estate agent has marketed a property at a speculative asking price. Many estate agents receive notification from a mortgage lender that they are unprepared to grant a buyer the loan to purchase a home. This can lead to much disappointment for the vendors.

By stipulating that cash buyers only are to make offers on the property, vendors can protect themselves against the sale of their house falling through. This can be especially important for vendors in a chain property sale.

Springbok Properties provide more 1,900 homeowners with FREEvaluations every month. Our property valuations are accurate, not speculative, and reflect the property market and what your home would expect to fetch if listed. To receive your FREE property valuation, click the link here, or call us TODAY on: 0800 068 4015.

The Property Vendor Can't Afford to Wait

Should the vendor be in a situation of urgency, they may also ask for cash buyers only. Vendors understand that the added time buyers spend getting a mortgage does not suit their timeframe selling the property.

Situations do vary, but it's not uncommon for vendors to ask for property cash buyers only when relocating abroad for work, or if they are about to enter a retirement community. These situations require the vendor to raise a significant amount of money to support themselves. Should time be in short supply, appealing to property cash buyers only increases the chances of a swift home sale as, once again, vendors will not need to wait whilst buyers are granted a mortgage.

Springbok Properties is proud that 96% of our customers are happy to recommend us. We are at your service 24/7 and work tirelessly to make sure that your home is sold in the quickest time possible to cash buyers only. Call us TODAY on: 0800 068 4015 to list and sell your home in a matter of days.

 

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