What is a Cash Buyer?
Anyone that can purchase property without needing to take out a mortgage or loan is called a cash buyer. Many buy-to-let mortgage investors are property cash buyers. They have the financial resources available to pay for property without borrowing.
However, if you don't fall into the property cash buyers category, how do you place yourself to get first refusal on ant home advertised on the open market?
Make Sure Your Finances are In Order
When a highly desirable property is listed, there is likely to be much attention from property cash buyers. Vendors are far more likely to choose cash buyers property who can make an immediate offer.
Vendors see property cash buyers as a safer option. They do not have to worry about the risk of an offer falling through should a mortgage not be approved.
Buyers should instil confidence in vendors that they have the money to purchase their home. Admitting to vendors that you'd like to make an offer, but are yet to speak to a mortgage advisor does not offer any assurances that they have the means to purchase the property. This can leave the door open for property cash buyers to swoop in, make a counter offer, and snatch the property from under buyer's nose.
Springbok Properties sells more than 230 homes across the UK every week. Whether you're relocating abroad or need to sell your home fast to settle a financial dispute, we can help. Call us TODAY on: 0800 068 4015 to find out more.