Landlord Products / Services
It happened!
- Your buyer pulled out
- Your property chain is on the brink of collapsing
- You need a quick solution to keep your chain alive
It’s fight-or-flight time. The question is: how much is your chain really worth to you?
This can often be one of those desperate times that begs for desperate measures, especially when time is of the essence!
Chains can break at any stage up until completion, and I’ve seen it all (and personally experienced a handful of them) – from buyers struggling to secure finance and sellers changing their minds (sometimes literally at the eleventh hour), to Homebuyer surveys unearthing deal-breakers and nasty legal glitches rearing their ugly heads.
If you’re on the cusp of having your heart ripped out of your chest because your dream home – or even just a much-needed move – is slipping through your fingers due to a delayed or collapsing property transaction, then there’s probably only one reliable solution left – and it has a high success rate!
While the financial hit of a collapsed chain can be gut-wrenching, it often isn’t as painful as the emotional toll of seeing the transaction itself fall apart, because it can mean carefully planned and committed plans being flushed straight down the toilet.
So, if you’re running out of ideas – or even if you’re not – and you desperately want to save your sale, here’s your Hail Mary!
Keep Your Sale Alive with a Guaranteed Cash Buyer
It ain’t always Plan A, and it might not be the prettiest solution, but selling to a property cash buyer company (also known as ‘We buy any house‘ company) can be undeniably effective – and one of the best ways to rescue a collapsing property chain that you’re adamant about saving.
On a side note, while these services are particularly well known for helping “distressed” sellers, in recent years they’ve also become increasingly popular among average sellers who simply want a quick, straightforward and hassle-free sale.
Why use a cash buyer company?
- Sell below market value: Cash buyer companies typically purchase properties for around 75%-85% of market value in exchange for speed and certainty.
- Skip the traditional selling process: Avoid the time, cost and uncertainty associated with estate agents and lengthy property chains.
- Get a cash offer quickly: Receive a no-obligation cash offer within as little as 48 hours.
- Complete in as little as 7 days: Move quickly when you need to rescue your sale and keep your plans on track.
- No fees to pay: Legal and selling costs are covered, so there are no estate agent fees to worry about.
- Any property considered: Sell your property regardless of its condition, location or circumstances.
I mean, it’s clear why this solution works and has it’s appeal, especially for anyone desperate to keep their chain alive, but obviously, it’s not for everyone. The speed and certainty of a cash sale come at a cost that not everyone can justify (and nor should they if it doesn’t make sense) – you’ll typically have to accept a discount on the property’s market value.
Despite popular belief, that discount isn’t simply a cash buyer company taking an easy profit. While some operators are undoubtedly predatory and best avoided (more on that shortly) – reputable cash buyers have substantial costs of their own to cover and often take on significant financial risks by buying properties quickly and below market value, particularly in a slow or falling market.
In other words, you’re paying for speed and certainty, while the cash buyer takes on the risk, costs and responsibility of getting the deal done quickly, in hope that they can eventually turn a profit.
Seller beware: I’d be remiss if I didn’t sound a horn of caution before you go any further down the path of cash buyer companies, especially if I’ve whet your appetite.
The biggest issue with the property cash buyer industry is that it is largely unregulated, making it a cesspit for rogue operators. That’s why it’s critical to do your homework and choose a reputable company you can trust. My Complete Guide to Cash House Buyer Companies aims to separate the wheat from the chaff for you, helping you identify the reputable buyers and steer clear of the unscrupulous vultures.
Cash Buyer Companies I’d Trust
If you want to speak to a couple of reputable cash buyer companies in this world of cowboys – whether you’re after a cash offer or simply want an informal chat to understand your options – I personally think the following are a couple of good eggs. I’ve worked with them for years as an affiliate partner and they’ve shown no signs of monkey-business. Make of that what you will.
Certainly, you might not like what they offer, but you can expect them to be straight with you, without the shenanigans.
| Service | Rating | Features | Offers (up to) | |
|---|---|---|---|---|
My Homebuyers | Rating TrustPilot Reviews | Features
| Offers (up to) 80-85%of Market Value | Get cash offer |
Home House Buyers | Rating Reviews.co.uk | Features
| Offers (up to) 80-85%of Market Value | Get cash offer |
House Buy Fast | Rating feefo Reviews | Features
| Offers (up to) 85%of Market Value | Get cash offer |
Please note, I try my best to keep the information of each service up-to-date, but you should read the T&C's from their website for the most up-to-date and accurate information.
While these companies are my recommendations based on personal interactions and my own due diligence, I still implore everyone to do their own research and due diligence before making a decision.
Is a Cash Buyer Company Your Best Way to Save the Sale?
Maybe.
Maybe not.
Whether selling to a cash buyer company is suitable or financially viable to save your chain will ultimately depend on your individual circumstances. The key question is simple: is the certainty of selling quickly and keeping your chain alive worth more to you than holding out for a higher price and risking the whole chain collapsing?
Perhaps, here are some of the most important things to consider:
- Is the certainty worth the discount? Ultimately, this is the big question. If accepting less for your property means securing your onward purchase, avoiding months of uncertainty and getting your life back on track, the discount may be a price worth paying.
- What happens if you don’t sell? Consider the consequences of the transaction falling through. Could you lose your dream home, have to pull out of your purchase, or face significant additional costs?
- Can you afford to accept a discount? Make sure you understand exactly how much you would be giving up and whether that discount is affordable in your circumstances.
- How strong is the property market? If the market is slow, buyers are scarce or prices are falling, your property could remain on the market for months, even years – potentially costing you more in the long run. Would accepting a cash offer today be better than selling for less several months down the line?
- How much is your chain worth to you? If your purchase depends on your sale completing, calculate the real value of keeping the chain alive. Losing the property you want could mean starting again, potentially paying more for another property or missing out altogether.
- How quickly do you need to move? If time is critical because of a mortgage deadline, an expiring offer, a job move, financial pressure or another personal circumstance, speed may be worth more than achieving the highest possible sale price.
- How much are delays costing you? A prolonged sale can come with mortgage payments, storage costs, temporary accommodation, legal expenses and other unexpected bills. Factor these into the true cost of waiting.
- Have you exhausted your other options? Before accepting a discounted cash offer, consider whether there are other ways to rescue the chain – such as finding another buyer, renegotiating the transaction or resolving the issue that caused the chain to collapse.
I know, I know – using a cash buyer company isn’t an ideal solution. But the reality is, you’re not in an ideal situation either! And that’s exactly why this might be your Hail Mary.
Landlord out xo
Disclaimer: I'm just a landlord blogger; I'm 100% not qualified to give legal or financial advice. I'm a doofus. Any information I share is my unqualified opinion, and should never be construed as professional legal or financial advice. You should definitely get advice from a qualified professional for any legal or financial matters. For more information, please read my full disclaimer.
