5 November 2014
All Cash Buyers Are The Same Aren’t They?
According to most people, finding a CASH buyer is about as good as it gets – they have no mortgages to arrange and no necessity to have a survey. Very often they have accumulated the required cash by being savvy investors willing to take a view on many of the niggling issues that can crop up during a house sale. It will mean that the cash buyer can give the most flexibility to a seller and importantly, the most secure sale.
At Least That’s The Theory
As any estate agent will tell you, cash buyers can, and do withdraw from sales or perhaps worse still, renegotiate the price without good reason. This is for a multitude of reasons – perhaps something as simple as a change of heart or circumstances or a better property coming along. By their nature many cash purchasers have amassed their funds by tough negotiation after all, and are unlikely to stick with a purchase if isn’t completely to their liking.
But Not All Cash Buyers Are The Same
Our members who purchase hundreds of millions of pounds worth of property every year are bound by a very strict code amongst which they must agree to ‘always act with fairness and integrity and must not reduce offer prices without valid reason’.
In other words, unlike some cash buyers, NAPB Members are not able to change their minds on a whim. We also provide property sellers with information to enable them to make a clear choice between selling methods be it traditional estate agents, auction or private sale.
So if you are considering selling just remember that all cash buyers are not equal and get an offer from a Member firm who you know will play by the rules.