How Quickly Can I Expect to Receive the Cash for My House?
One of the biggest problems with selling property, especially if you go down the more traditional route of using the services of an estate agent, is just how long it takes. There is no escaping how complicated it can be selling on the local housing market, particularly if you are in England or Wales. This is because although there is a seller and a buyer, there are several other key organisations or people involved in the transaction too. There are lawyers, surveyors, often on both sides and mortgage companies as well as the estate agents themselves.
That is why many people find the process quite off-putting, especially if they need to sell in a hurry or need access to the money from the sale quickly. There really is no quick way to get hold of the money from selling your property through an estate agent. There’s actually no guarantee until the contracts have been exchanged and signed, that the sale will go through, and you will get the money. Even when a sale is successful, it’s hard to get full access to all the money quickly.
Is there an alternative?
Cash Offers – a Quicker Alternative to Selling on the Housing Market
There is one alternative in particular that Is normally much quicker than selling through an estate agent, particularly when it comes to having access to the money from the sale. The alternative we are referring to is by selling to a cash buyer. You’ve probably seen adverts for property cash buyers before and perhaps you even thought they were just scams.
Although many are, there are many out there, like Cash Home, that is legitimate and genuine businesses that have the buying power and funds available to purchase property for a cash price. They do not need to wait for a mortgage to be approved and when a sale is completed, your money isn’t stuck in escrow- most deposit the money directly into your bank account.
That Sounds Great – How Quickly Can You Get the Cash?
If you were not sure about selling to a cash buyer before, after reading the above paragraph, we are sure you are more interested than ever before. You may wonder though how long it will actually take for you to get the cash.
Well, that depends on several things really, including
- The property cash buyers you choose to sell to
- How quickly do you need the cash?
Let’s discuss that first point – the amount of time it takes for the sale to be complete and the money to be in your bank account from a cash offer depends largely on the company you sell your home to. Generally speaking, most companies will say that the sale can be complete and the money in your account within 7 to 14 days. However, beware of any company that is not upfront and open about how long it takes, as that may be a sign that all is not as it seems.
As noted earlier, some companies do pose as cash buyers when they are really just estate agencies or advertising companies who are going to sell your home to a third-party and may even be trying to lock you into a contract with them so you can’t sell elsewhere.
The second point is that many of the best and most reputable cash property buyers will actually offer a set timeframe for the transaction to be complete or to work with whatever timeframe suits you. They recognise they are getting a good deal buying directly from you and are willing to accommodate you. So don’t be put off straight away if you need to sell in less than 7 days and they don’t say anything officially about that, just speak to them and they may be able to work something out for you.
Similarly, if you need more time, they can usually extend the process to suit you.
The bottom line is if you choose to sell to a reputable cash buyer, like Cash Home, you can expect the transaction to be complete within 7 days. That means within 7 days you will have the cash in your bank account and are free to spend it on what you need or want to.