serene sale fast home

Are cash house buyers safe?

Are cash house buyers safe and trustworthy?

In the past the only mainstream way to sell your house was to use an estate agent, which could take months. Not any more. 

Sell Your Home Fast.

Is It Safe To Sell To A Property Cash Buying Company?

In the past the only mainstream way to sell your house was to use an estate agent, which could take months. Breaking your buying chain and losing out on your next house. 

Nowadays you have a lot more flexibility and more options. Including the use of a cash house-buying company. Here we look at the potential risks and advantages of using a cash-buying company to sell your property. 

are cash house buyers safe serene sale

What is the difference between
using an estate agent and selling to a private cash buyer?

The normal route to selling a property is through an estate agent. This takes a considerable amount of time. Also, a fee for the estate agent is involved as they need to be paid for finding a buyer and completing a sale. A much faster route to selling a property is to use a company that pays 100% cash and can complete it in a much shorter timeframe. Serene Sale, as one of the UK’s leading cash-buying companies. Can complete the purchase of a house sale in as little as 7 days.

There are several differences between using an estate agent to sell a property and alternatively selling to a private company, such as Serene Sale. Which purchases using only cash. These can be summarised as follows:

  • An estate agent takes a fee whereas Serene Sale takes no fees whatsoever.
  • Marketing materials are required by an estate agent. To entice prospective buyers. Serene Sale does not require any marketing materials to be made.
  • An estate agent will undertake viewings on the property (often a large volume of viewings). But Serene Sale will not require any viewings.
  • An estate agent will typically take 6 to 12 months to complete the sale of a property including all tasks involved, whereas Serene Sale can complete within 7 days.
  • The typical buyer who an estate agent introduces uses a mortgage, which adds on extra time and introduces an added risk that the mortgage may be declined. Serene Sale does not require any mortgage funding.
  • An estate agent will try to find a buyer as close to market value as possible. Serene Sale will offer up to 90% of the property’s market value.

Are Cash House Buyers Safe?

What is crucial for each property seller to decide is what is most important for them. If they want to sell their property in the fastest possible manner without the intrusion of any viewings and risking house sales falling through. Then choosing Serene Sale as a house cash buyer is a preferable route.

Every property that Serene Sale purchases come with a guarantee that completion will take place at the agreed final price. Once a valuation is undertaken, a final price is agreed upon. And completion of the house sale can take place within a matter of days.

Sell Your Home Fast.

What Are The Risks Of Selling To A Property Cash Buyer?

Although there are many benefits to selling a property to a cash buying company, it is important to understand what risks are involved:

Choosing The Right Company

There are a number of cash-buying companies in the market and it is important to work with the right one. A good cash-buying company will have experience in actually buying property in a short timeframe and delivering on what they said they would do. Serene Sale has extensive experience in completing house sales within 7 days and this is reflected in their customer reviews.

Making Sure The Company Has Cash

Although various companies advertise themselves as cash buyers, it is not certain that all of them will actually have cash. If a company needs to go and find a buyer, even if this is a cash buyer, then the company is not a true house cash buyer. Such a company is acting as a broker, which is the same as the role of an estate agent. Finding a buyer takes a considerable amount of time, so it would not be possible for such a company to complete a house purchase within a week. Serene Sale is a true cash house-buying company with the funds readily available, enabling us to aim to complete property purchases within 7 days.  

Understanding Price Changes

One of the concerns in the property cash-buying industry is regarding the change of price after a formal price has been agreed upon. Serene Sale is completely open about this and in some situations, a price can change following a survey.

For example, a 90% offer of £180,000 agreed upon for a property initially thought to be worth £200,000, may change to say £170,000, if the survey highlights several problems. There may be structural damage, internal issues, or asbestos, or the property may be in poor condition. It is only fair and correct that these issues are taken into account and as such, a price adjustment may be required. Where property sellers are safe with Serene Sale, is that the cost of the survey is covered by Serene Sale. So, if a house seller chooses to withdraw, then they are free to do so has not incurred any costs.

Avoiding Fees

One of the advantages of using a property cash-buying company such as Serene Sale is that all fees are avoided. If there is a request for property sellers to pay any fees, including a valuation fee, then this is a red flag that the company is not a true house cash-buying company.

As property cash-buying companies will pay a lower price for a property – up to 90% of the market value – it is important that the property seller is not subjected to any fees. It is also important that they are not tied into any contract before everything is agreed, upon and the price is final. The property seller should have the right to pull out at any time, including after a survey has been undertaken.

Related Articles