Life can be uncertain and your situation can change in an instant. If you experience a sudden change in job and need to relocate in a hurry, are getting divorced or have unexpected money worries and have found yourself thinking, “how can I sell my house fast for cash?” we’ve got the answers!
Is it possible to sell my house fast for cash?
First things first, yes, it’s not a myth – it really is possible to sell your house fast for cash by using a specialist cash house buying company. The key is to know who to approach and how to be sure that you’re getting a legitimate and reliable deal.
What reasons are there to sell my house fast for cash?
There can be any number of reasons as to why you might need to sell your house fast for cash. Everyone is different and the reasons why one person selling their property for cash will differ to others. But whilst the finer details may vary, there are some broader reasons that tend to crop up frequently.
For example, selling your house fast may be necessary due to:
- Splitting up with a partner
- Getting divorced
- Starting a new job in a different part of the country
- Relocating abroad
- A change in your financial status
- The collapse of a business
- Losing your job
- To avoid property repossession
- To avoid getting stuck in a long property chain
- The property having a short lease
- The property has potential issues, such as a risk of flooding
- Inheriting a probate property.
How can I sell my house fast for cash?
If you want to sell your house fast for cash, you’ll need to get in contact with a legitimate cash house buying company. There are lots of companies around, but some have been established for longer and have a better reputation than others, such as Molae Properties. It’s always good to do your homework first and to check which areas different companies buy properties in, as many concentrate on particular areas (Molae focuses on buying houses in London and the M25 area, for example).
Why not use an estate agent?
If you want to sell your house fast for cash, an estate agent isn’t the route for you. Of course, estate agents play their role and are fine if you’re not in any particular hurry to move. But when you need a quick and prompt house sale and want to sell for cash, you’re far better off using a cash house buying company.
If you see a company advertising as being a ‘quick sale estate agent’, give them a wide berth. Reputable estate agents are unlikely to have access to property investors who will quickly purchase your property for full market value and pay cash for it.
What makes a cash house buying company different from an estate agent?
Estate agents focus on selling property for full market value. There’s no guarantee as to how long it will take to sell your property and, even when an offer is made and you accept it, it can still take time for the deal to go through.
You’ll have to wait for the buyers to conduct a survey, after which they may want to re-negotiate the price if any potential problems have come to their attention as a result of the survey. There’s also the chance that you could end up as part of a lengthy property chain and, as we all know, property chains are fraught with their own issues.
On the other hand, if you choose to use a specialist cash house buying company, you’ll be given a price offer quickly and a time schedule from the outset. Once an offer is made in writing, that’s the fixed price that you’ll receive – there’s no worries about the offer being renegotiated or quibbled at a later stage.
Rather than potentially having to wait months to exchange contracts, cash house buyers exchange contracts super quickly – even as quickly as within 24 hours of viewing your property. They’re aware of your circumstances and take your needs and requirements into consideration when working out a suitable completion date.
Best of all, as you need to sell your house fast for cash, that’s what will happen. It may be as little as days from your first contact that you get to see the cash in your bank account. And they’ll be no fees to pay.
An established, professional house buying company will do what they say and reliably help you sell your house fast for cash. It makes the house selling process hassle free and a breeze, compared to the lengthy, uncertain and stressful approach of using a traditional estate agent.
What price can I expect to get when I sell my house fast for cash?
When you choose to sell your house fast for cash, it’s good to be aware from the outset that the price you’ll be offered will be lower than the price an estate agent would put it up for sale at. That’s because you’re entering into a quick cash buying process.
When you sell your house fast for cash, it’s normal for valuations to be below typical market value due to the nature of the process. It’s rare to come across companies willing to pay full market value and able to progress with a purchase in super quick time.
So be realistic with your expectations when using a quick cash house buying company and remember the benefits – lack of fees, speedy timing and definite sale – that you’re gaining from being able to sell so quickly.
Is the quick house sale market regulated?
There’s currently no regulation of the quick house sale market, which is one of the reasons why it’s so important to shop around and find a reliable company to sell to.
However, it is useful to know that reputable companies will register with The Property Ombudsman (TPOS) and abide by their Code of Practice. So, when you’re searching for a quick sale company to use, it’s always worthwhile choosing a company that discloses from the outset that they are registered with The Property Ombudsman. This means that you can rest assured that you will have access to an independent advisor in the event of a problem.
If you want to double-check for yourself, you can always contact The Property Ombudsman to see if a company is registered with them.
Pros and cons of using a sell my house fast for cash company
It’s always helpful to weigh up the pros and cons of any major decision, and selling your house fast for cash is no exception. Here are some of the key pros and cons to consider:
Being able to sell quickly and recoup your cash
Being able to avoid property repossession
Not getting stuck in a lengthy property chain
Being able to move house quickly
Avoiding extra fees
Knowing that once you have agreed to sell, you have a guaranteed sale.
Being able to complete the deal in as short a time as possible.
Selling for a figure below the market value
Not so much scope for negotiating the final selling price
Having to shop around to find the most professional, reliable company.
Questions to ask a sell my house fast for cash company
There are bound to be lots of questions you’ll want to ask to a sell my house fast for cash company before you sign on the dotted line. As it can sometimes be hard to remember everything, especially if you’re feeling overwhelmed at all the options, here’s a useful checklist of some of the key questions you might like to ask a quick sale company.
- What fees and charges are there?
- How and when will my house be valued and who will conduct the valuation?
- What are the time-scales for selling my property?
- What stages are involved in selling my house?
- Is the offer price you give set in stone and unchangeable?
- If anything happens and I’m not able to complete the sale, will I still be charged fees?
- How quickly are you able to exchange contracts?
- Are you a member of The Property Ombudsman?
- How long have you been buying properties? What is your background?
Make a note of all your key questions so you don’t forget them and get answers to help clarify your next steps.
Sell my house fast for cash – checklist summary
If you decide that selling your house fast for cash is the best option for you, and suits your individual needs and circumstances, congratulations!
Here’s a useful summary of the key issues to consider when going ahead with selling your house quickly for cash:
- Do your research to check out the company you’re doing business with. Check how long they’ve been trading and that they’re a member of The Property Ombudsman.
- Be honest about why you want and need to sell.
- Get all offers in writing, not just verbal agreements.
- Read the contract carefully so you know exactly what you’re agreeing to.
- Don’t be rushed – take your time and make sure you’re happy with the agreement. Only sign the contract once the survey and legal checks have been completed.
By doing your homework and finding a reliable buy house for cash company, you can get the financial freedom and quick deal that you need. Admittedly, it’s not a route that works for everyone, but when you need to sell property fast, whatever your reasons, such companies can be a godsend.