Want Fast Cash for commercial property? Why You Should Choose a Property Buying Company
Selling a property can always be something of a challenge. This is true when you are selling residential property and non-residential, commercial property. If you try to sell a building you’ve been using for a business, there are a lot of different factors you need to take into consideration, that will indicate how quickly or slowly it will sell.
However, if you choose to sell the traditional way through an estate agency or agent, even if everything goes your way, it could still take at least three to six months to complete the process.
That’s why, if selling up quickly is important, you should look at the alternative to selling through an estate agent and selling directly to a cash buyer. There are many benefits, including a quicker sale, that you can take advantage of by selling to a property cash buyer, but before we discuss those, let’s clear up what we actually mean by a cash buyer.
What is a Property Cash Buyer?
Just so there are no misconceptions or misunderstandings, a property cash buyer is an individual or often a company that has the purchasing power to buy property solely with cash. They do not need any financial help such as a loan or mortgage.
One of the ways that the term cash buyer is often misinterpreted is for a cash buyer to be a genuine cash buyer, they need to have the money at the time they put in an offer. Therefore, someone who is waiting on the close of sale on another property or asset, even if that is enough money to buy your property, is not a true cash buyer.
Advantages of Selling Through a Cash Buyer
Now you understand exactly what a cash buyer is and why they are not, let’s look at some of the main benefits of choosing to sell your property through one like Cash Home.
Less Likely to Fall Through
When property sales fall through, it is not just frustrating and time-consuming, it can be very expensive. One of the big advantages of selling commercial property through a property cash buyer is that most of that worry about the sale collapsing is removed, as it is just less likely to happen.
No Mortgage Issues
Many properties sales fall through because the prospective buyer did not have the financial support, such as a mortgage, in place. That’s one of the major problems when you rely on someone to obtain a mortgage, because they may initially get a load or mortgage in principle, but their lender could choose to change their mind at any point before contracts are exchanged, for any number of valid reasons.
When that happens you are back to square one. However, with a cash buyer, you do not need to wait to see if they are successful in obtaining a loan or a mortgage because they don’t need one, so it is less likely for the deal to collapse.
Say Goodbye to Complex and Convoluted House Chains
Another major reason why traditional property sales fall through, even when there is a buyer in place is because of the convoluted and complex housing chains that often exist. All it takes is someone along the chain to change their mind and then the deal collapses.
When you sell to a cash buyer, you are selling directly to them and there is no one else involved in the deal apart from you and them. No mortgagers, no lenders, no solicitors. Etc.
Faster Process
It was highlighted earlier, but as you are looking for a quick way to make money from selling your commercial property, it is worth noting that selling to a cash buyer is the quickest way. Often, the deal can be completed within a few weeks or even days. Compare that to a buyer who needs to secure a mortgage which may take at least a month.
If you really need to sell up quickly because you need access to the funds from the sale fast or because you need to move your business premises without too many disruptions, selling to a cash buyer like Cash Home is likely to be the quickest option open to you.