How to Sell Mineshaft Properties
Although coal mining in the UK has been more or less abandoned, the country is still left with an underground network of hundreds of mineshafts. Rather than being interesting pieces of nostalgia and history, they are more a problem than anything else. Particularly as many mineshaft entries are close enough to homes and other properties, which causes problems for the owners when it comes to selling those properties.
If you own a property on or near a mineshaft, you may wonder if you are actually able to sell it at all without jumping through some serious hoops and spending a fortune. In the following post, we are going to tackle this issue that is more common than you may think while providing a solution.
Why Are Mineshaft Properties Hard to Sell?
There are several reasons why mineshaft properties are so hard to sell. The main issue, though, is that if a property is built within 20 metres away from a mineshaft, most mortgage companies will not finance the purchase of it. Why? Mortgages companies, like all lenders, always consider two main things when deciding whether they can offer an individual a mortgage or not – their financial situations and the condition of the property they need to be mortgaged.
Properties built close to mineshafts are at risk of structural damage. Even in cases where there is no immediate threat to the property, a mortgage company will look at the future dangers too. In many cases, this is why mortgage companies will not approve loan applications on mineshaft properties.
Buyers May Be Put Off
Even if a mortgage company is likely to approve a mortgage on a mineshaft property, buyers may still be put off. The last thing many families are looking for in a home is a potential hazard for themselves and their children.
Therefore, in most situations, only cash buyers can purchase mineshaft properties.
Why Choose a Cash Buyer?
It can take a lot of time, effort and money to try and sell a mineshaft property through the more conventional means. Real estate agents know how difficult these properties, as highlighted above, can be to secure mortgages for. Many will be put off and the ones that aren’t may expect a higher commission rate and fees for the convenience of their services and expertise.
This is why it is best to look at private cash buyers, like Cash Home.
Why Sell Your Mineshaft Property to Cash Home?
Aside from cutting out the middleman, there are many reasons why you should turn to Cash Home to buy your mineshaft property. We are not put off by properties with mineshaft underneath. In fact, we have purchased more than 100 mineshaft properties and we are not against buying more.
When you use our convenient service, you do not have to experience the long and drawn-out process of selling a property the traditional way. A process that is made even more drawn out and longer by the fact a mineshaft is involved.
At Cash Home, we know how important it may be for you to sell your home quickly. Whether it’s because of financial difficulties you are having, you need to move for a new job perhaps you just need to move to another part of the country.
We have strong buying power and are always looking to buy properties, regardless of their location and what issues they might have. In fact, it can take as little as a week to complete the purchase.
If you have a mineshaft property and are worried about selling it, speak to us today and we will give you a reasonable quote.