What does ‘cash buyers only’ mean? What are the benefits of buying a house with cash?
What does ‘cash buyers only’ mean? If an estate agent advertises a house as ‘cash buyers only’, it means that the buyer does not want anyone to put in an offer if they would require a mortgage in order to complete the sale. There are a number of reasons this might be. It might be that they just want the sale to be completed quickly – they might have found their dream home and are afraid of it falling through, or maybe they’re looking to quickly release equity tied up in the property. However, it may be that, for whatever reason, the house is unmortgageable, making it only available for cash buyers. The house could be unmortgageable for a number of reasons. for example, it may have structural damage, or it might be built in a high flood-risk area. Be sure to ask the seller why they’re asking for cash only. It’s also a good idea to get a survey to ensure there are no surprises further down the road. If the survey shows up problems with the house you might decide to go ahead with the purc...
