For those of you who are looking to sell their house now and buy at a later date or to buy and sell at the same time, a property buyer who offers you cash could be just the solution you are looking for. Why? Because a person with cash will not need to sell a property or generate mortgage finance so they can buy a property. This will give you piece of mind, in knowing that the sale is much more likely to go through, in comparison with someone who has to wait for mortgage finance to come through or a lengthy chain to work out, before they can proceed.
There are many other benefits to accepting an offer on your home from somebody who wants to pay in cash. One of these is undoubtedly more convenience, as there will be fewer third parties such as solicitors, mortgage lenders and chain members to deal with. This is very helpful and cuts out a lot of hassle going back and forth between various points of contact.
In addition, when you re-invest, the chain will be shorter and thus the chance of the house purchase falling through will be lower, owing to the fact that less buyers are being relied upon to complete the process. Furthermore, you will have far greater negotiating power on the price with the property owner you are purchasing from, as there is only one party below you in the chain.
An important point to bare is mind is that even if an offer from a cash buyer is lower than your initial expectations, the benefits of a quick house sale (owing to the lack of administration, financial delays and red tape) ,as well as the potential savings on the onward purchase, can still make this the more advantageous option.