Generally, yes! And this is why:
- If you have no property to sell and are buying with cash, the seller can forget about the uncertainty of a chain.
- Equally the seller doesn’t have to wait for you to obtain your mortgage offer.
- They also don’t have to fear the loan source will be unable to find comparable properties and down-value the property.
The buyer wins too
- As a buyer, you don’t have to pay interest on your money and other fees that come with arranging a mortgage.
- You can choose to invest in more property, or invest in stocks and shares, paying cash for a new car, enjoying a better quality of life.
As a seller, it’s worth remembering though that commitment is also very important: a cash buyer has nothing to lose by swapping to a better property which comes onto the market. Making sure your buyer – even a cash buyer – is fully committed, is something your agent will properly investigate.