If you have a property that has suffered some form of damage, or which has outdated fixtures and fittings, you may find it difficult to sell. It can be tempting to simply hand over the responsibility of selling the property to an estate agent. But is this really the best solution?
Traditional sales methods aren’t appropriate for every property. In some cases, making a quick cash sale is the better option. Selling your property for cash is very different to selling it through an estate agent. Older properties and damaged properties can often benefit from this different approach, and we’d like to use today’s blog entry to explain why.
Cash Sales are generally made by individuals who are motivated to sell their properties as quickly as possible. However, many people don’t realise that they also attract buyers who are motivated to purchase properties just as quickly. If your property has suffered from damage or ageing, a quick cash sale can attract the right kind of buyer. Individuals who buy properties in fast cash transactions are less likely to be concerned with finding ‘perfect’, fully-developed properties than individuals who purchase properties through estate agents. Their goal is to find a property quickly and purchase it for a reasonable price. As a seller, you can benefit from this tremendously.
The most obvious benefit is that your property will attract a buyer in a timely fashion. If you try to sell a damaged or aged property via an estate agent, you may find that it takes weeks or months to locate a buyer with a serious interest in the property. Because individuals who seek to buy properties for cash are more likely to prioritise speed and price over the condition of the property, you’ll attract a buyer much more quickly by offering a quick cash sale. What’s more, when you do attract a buyer, they’re far less likely to quibble over price or make a ridiculously low offer. They don’t want to waste time bartering or risk losing the property; after all, they want to purchase it as soon as possible!
The speed of the process and the lack of quibbling from buyers can also make quick cash sales less stressful than selling through an estate agent.
Selling a property for cash can even help boost the price you receive for the property. Of course, you won’t be offered the house’s full market value in a quick cash sale. But if a property is old or damaged, it is equally unlikely to attract offers that equate to its real value when sold through an estate agent. Plus, the offers you receive when selling through an estate agent may be unreasonably low, simply because the prospective buyers were looking for something different. In contrast, quick cash sales typically attract offers of between 85 and 95% of a property’s true value, even if it has been damaged or is obviously aged. Buyers in cash transactions are usually willing to accept a few fixable flaws and will generally offer a fair price for a property.
If you need to sell a property that’s suffered any form of damage or ageing, selling your property fast for cash may be ideal!