Growth in Cash Buyers in Housing Market

There has been a substantial increase in the amount of cash purchasers within the housing market, with nearly 40% of house buyers not requiring a home loan for the property purchase, statistics from The month of January this year display. It is a doubling of the proportion since 2005 and it is possibly more of an expression of the lack of mortgage financing accessible.

In a few regions of Greater London, the percentage of cash purchasers is even greater at 80%. Purchasers are usually more mature people who find themselves downsizing, divorcees having a monetary pay off and foreign buyers.

Selling your property at auction can be a great way to achieve a quick house sale. The price achieved will ofter be the same as we might offer but this alternative should not be ignored and is a route we have used ourselves.

Click here to see our guide to selling your property at auction

Our process is designed to be as simple as possible for our customers. Most of the work we do needs very little involvement from you (the seller) and all obstacles are taken care of to make sure you (the seller) experiences a smooth quick house sale.

Once we receive your call from we take enough details to perform some due diligence. usually the only data required is contact details, postcode, house number and basic property description. We do also like to have a chat about your circumstances to help us tailor a solution to meet your needs. However, this is not necessary if you do not wish to share this information.

We will use this information to price the property. In some cases we can  price the property without any further information or viewing. However, in most cases we will call back and arrange a viewing of the property.

During the viewing we will explain the options for purchase and which one fits your requirements. (for details on different purchase types see earlier posts).

Once purchase has been agreed we instruct our solicitor and a solicitor to act on your behalf. If you have a solicitor you prefer to use that’s fine however, we may not pay the fees.

Once the solicitors have been instructed the exchange of contracts will usually take 2 weeks and completion will be within 2 weeks of the exchange (unless a date has previously been agreed).

And that’s it!

The process is simple and transparent. We keep you updated with progress throughout and explain any legal jargon and process pitfalls as we go.

A quick note from Quick house sale Leeds wishing you all a merry Christmas. We will be available throughout the festive season so please do not hesitate to contact us.

I love lease options. When the circumstances are right they are great for the seller (who wants a quick house sale) and for the investor. The option is works if the seller wants to hand the property over (so they are no longer accountable for its debts) and they either don’t need the equity immedietly or have no equity at all. Lease option is a great option for the seller because the buyer is able to offer more for the property and in some cases the seller can have a cut of the profit as the property value grows. This is obviously a great incentive for the seller.

The simple answer is not really. In my experience the middle market is moving slowly but the lower end is not moving very much at all. There are, of course the few exceptions but in the main the lower end of the market is struggling. The reason is simple. While the media may claim that people are afraid to buy, I believe this is a myth, most people know this is a good time to buy. I believe the reason is simple, the lenders are so restrictive at the moment, many first time buyers simply can’t get the finance. And property at the lower end of the market is usually bought by either a first time buyers or by an investor. So what does this mean to you (the seller). Well you need to evaluate what part of the market you sit in, look objectively. If your property would be classed as the lower end of the market the chances of a quick house sale are slim. The kind of buyers you need to attract are few and far between. The alternative for a quick house sale would be to turn to an investor. We meet many people in this position every day and always offer advice and a reasonable purchase price.

Many customers approach me after their sale falls through due to a break in the chain. In the past this was usually caused by one party in the chain dropping out and the whole thing collapses. Recently the reasons for a chain breaks have usually been either one of the buyers cant get the mortgage they thought (due to tighter lending criteria) or the surveyor values a property lower than the offer made and lower than the seller will accept. My opinion is that the value of something is based on what someone is prepared to pay but the surveyors do need to cover their backs and protect the lender. One recent example that i find quite amusing is, my customer David offered a price for a property through an estate agent and the offer was accepted. The seller was looking for a quick sale and had already accepted an offer below asking price. David applied for a mortgage with the same company who owned the estate agency. The surveyor valued the property 20% less than the estate agent and the deal fell through. You can imagine David’s frustration when the lender claimed that the value of the property was 20% less than their own estate agent claimed. And this is not a stand alone incident, I see this all the time. If you find yourself in a similar position and need a quick house sale to stop the whole chain falling through give us a call and we’ll make you an offer or simply offer you some advice.

This is the question we hear over and aver again. The reason is people have a preconceived Idea that the amount offered for their property will be unreasonably low and unfair. My response is it depends on your perspective and your financial education. Of course a quick house sale company will offer you less than you’d get on the open market but why wouldn’t they? They’re a company providing a service and ultimately are doing so to make a profit. Yes they will make a profit from your property but every time you use a service (property related or otherwise) someone is obviously making a profit. The trick is find a quick house sale company who are prepared to offer you advice, not push you into a sale and one that is happy to offer you a range of solutions to suit your situation. It’s very easy to turn up at a person’s house and offer 40% below market value in every case but this is a generic approach and clearly your personal circumstances have not been considered. A good company will have the right legal backing with the most up to date legal advice and will therefore have the industry knowledge to offer the best advice and find the best solution.

What is a delayed purchase?

A delayed purchase is what we call lease option purchase agreement. We use this term because we believe it is more understandable. The fundamental principal of a lease option purchase agreement is that the seller agrees to lease the property to the buyer for a number of years and at the close of that agreement or any time during the agreement the buyer can purchase the property for the price agreed and the start of the agreement. Here’s an example of a recent agreement we did. The property was on the market for £99,500, The seller had a mortgage of £50,000 and was moving abroad. We offered the seller £90,000 and agreed a £5,000 deposit and agreed the option would last for 5 years. The £5,000 was paid to the seller upfront and during the 5 year lease we will have total responsibility for the property and its expenditure, we pay the mortgage (which would remain if in the seller’s name) and all maintenance. Once we decide to utilize the purchase agreement, we will complete the sale and provide the seller with the remaining funds (so he would receive the balance £94,500) on purchase completion.

Why is good for me (the seller)?

A delayed purchase means you are more likely to receive a higher offer for your property. As a buyer we will generally offer between 20 – 30% below market value for an immediate purchase however, for a delayed purchase this is more likely to be between 0 – 15% below market value. That means you could possibly get a full current value offer.

Who is this type of sale good for?

This type of sales only works if the seller doesn’t need all of the equity tied in the property. If you want a property off your hands because no longer want the expenditure and hassle but you can wait for the equity this is a great option for you.

At quick house sale we offer fast stress free way to unlock the cash tied in your property. We can buy your home quickly and help you avoid the frustrations so many people experience on the open market.

We guarantee to make you an offer to buy your property regardless of its location or condition.

There are many reasons so many people have used are service, you may have found your dream home, be facing repossession, relocating, downsizing or maybe you simply want to unlock the cash in your property. Whatever the reason we can help you avoid the hassle and time involved with an open market sale.

Call now on 0113 2089906