Should You Sell Your Property To A Cash House Buyer

With the property market suffering from the fallout of the UK’s decision to leave the EU combined with the tumultuous effects of the Coronavirus outbreak, many people are finding that their ability to sell a home for their desired asking price is often reduced.

There are many reasons for this, but the primary reason is that numerous authorities have given conflicting statements regarding how well the property market will recover – confusing the public and forcing buyers to ponder whether or not they want to risk entering negative equity if house values fall over the next few years.

So, what options do house sellers have?

Sellers still have numerous methods of selling available to them, but the advantages and disadvantages of each depends on the state of economy as well as the seller’s individual financial position.

In order to sell a house fast, some sellers opt to choose auction houses – but unless your house has a unique selling point, interest from buyers may be lacking. Furthermore, many investors visit auctions with the hope of scooping a bargain and if you place your reserve price too high, you may fail to sell but will still be subject to the admin charges associated with the auction.

Other sellers choose to go down the traditional route of contacting an estate agent, which under normal circumstances would be a great approach – if time is not an issue. However, when the property market is in a state of bad health, a property could end up staying on the market much longer than anticipated. Sadly, the longer a house stays on the market, the less interest it will generate from potential buyers who question why it hasn’t sold yet. In these situations, an agent is likely to ask you to reduce your asking price while also taking a cut of the profits if it does sell. So, what other options are there?