Like so many other pieces of estate agent jargon, Cash Buyer seems self-explanatory at first glance, but it can often be twisted and misconstrued…so we’re going to set the record straight here today.
What Does Cash Buyer Mean?
A cash buyer is someone who can pay for the property in full with money they already have instead of borrowing money. However, A cash buyer must have the funds available when making an offer to truly be considered as such, where the water can sometimes get muddied.
Some agents will claim to have a cash buyer ready and waiting for your sale, but that buyer needs to sell another property before they have the money required to buy your home.
Strictly speaking, this is not a cash buyer make.
Is The Sales Process The Same For Cash Buyers?
Yes, cash buyers are appealing, especially for sellers. They don’t need mortgages, so there’s less paperwork. However, smart cash buyers still do their research. They’ll order surveys and property checks, just like a lender would. These checks might be faster for cash buyers than lenders, but they’re still essential before buying.
Benefits Of Cash Buyers
Now that we know who a cash buyer is, we will discuss the benefits of a cash buyer.
1. Chain Free
Being able to buy your home outright with cash already sitting in their bank means that selling to a cash buyer does away with the dreaded property chain. Removing a chain from the process means there will be less chance of the sale falling through because of a third party.
2. More Certainty
Cash buyers generally long in the property market and will only deal when they know it’s the correct move. They will also be able to take comfort from not having a mortgage negates any concerns over future finances. In other words, repossession fears are not even on their radar.
3. They Can Buy Anything
Short leases? No problem for cash buyers if they like the deal. They can buy the property right away. But people who need mortgages can’t do this. Lenders don’t like short leases.
4. Quicker Sale
This is probably the number one reason cash buyers are desirable to those selling their homes, especially those desperate to sell up fast. Similarly, if you remove the lender from the deals, it can dramatically cut down the time it takes to complete a sale.
Get a Fair Cash Offer From Settlement House Buyers
Are you looking for cash home buyers in Austin? You got it. Visit Settlement House Buyers and discover a hassle-free way to sell your home. We offer fair cash offers, fast closings, and no hidden fees. Whether you’re facing foreclosure, dealing with a difficult tenant, or simply ready to move on, we can help. Contact us today for a no-obligation cash offer.