Is selling a house fast for cash the quickest way to sell in 2024?

With high street estate agents taking over six months to sell a house on the open market, and online platforms like Purplebricks averaging over four months, you might be wondering if selling your house for cash is a faster option.

The answer is yes. As one of the UK’s leading cash house buyers, The Property Buying Company can buy your house in as little as 7 days — making it 26 times faster than the average high street estate agent.

In this article, we’ll explore what a cash house sale involves, the quickest way to sell your home and the steps in the process.

What is a cash house sale?

A cash house sale refers to a house that is sold to a cash buyer, exclusively for cash. This means a cash buyer can buy the property outright without the need to sell a property or apply for a mortgage first.

With a cash buyer, there are fewer ‘hurdles’ to jump, with many not bothering with surveys or searches on the property they’re looking to buy. As a result of this, and the fact these buyers don’t need a mortgage, there is less paperwork to do and therefore makes the process less complicated.

Also, with a cash buyer, there is no chain attached, as they don’t rely on their house sale in order to buy your property, and therefore means there’s less chance of the sale falling through.

There are many different types of cash buyers – you can find them on the open market, at auctions or there are cash house buying companies, like ourselves.

With us being a cash house buying company, we’re a specialist cash buyer with our own cash reserves, meaning we’re able to buy any property in any condition, no matter the price. We’re also members of the National Association of Property Buyers and The Property Ombudsman, showing we’re a buyer you can trust.

Is it quicker to sell to a cash house buyer?

One of the most common factors of a sale falling through is either party pulling out as a result of the sale going through far too slowly. This leads sellers to look at other methods of getting their houses sold quickly.

Generally speaking, the main reason most sellers look for a cash buyer is for speed, as they believe they will be able to get a quicker sale through this method – but is this actually the case?

Yes! Selling to a cash buyer is one of the fastest methods of selling a house, with the conveyancing process largely reduced as a result of the cash buyer not needing to wait for approval for a mortgage.

Also, as we mentioned earlier, there’s no chain when selling to a cash buyer, meaning the sale won’t be dependent on another sale completing, meaning there’s reduced stress of the sale falling through and the sale will work around your completion timescales, as the focus is only on your sale.

Cash house buying companies in particular are great for this, as you’re able to choose your ideal timescale and they will work the whole process around that.

On top of this, a lot of cash buyers tend to be looking to buy a property as an investment and so aren’t bothered about having a survey or searches done on the property, meaning another less hurdle to jump, making the sale process go through much quicker.

If you choose us as your cash house buyer, we have great relationships with solicitors and surveyors, allowing us to get the best and quickest service, meaning we can get your sale through in record time.

How quickly can we buy your house for cash?

The Property Buying Company offers one of the fastest ways to sell your home, with many homeowners completing their sale in as little as 7 days. While other cash buyers may claim similar timelines, many operate on a 2-3 week timescale. In the largely unregulated cash buying industry, they don’t have to prove they can deliver within 7 days.

For those considering other options, traditional property auctions provide a faster route compared to estate agents, with properties selling within 28 days as part of their monthly auction schedule. Hybrid estate agents also offer an accelerated process, often selling homes within 28 days, far quicker than traditional or online agencies.

Modern property auctions, where buyers can secure mortgage approval, usually take around 56 days. However, both online and traditional estate agents generally take much longer, with sales taking 4 months in the best-case scenario and an average of 6 months.

What is the quickest a cash house sale can go through?

The fastest cash house sale we have ever done was completed in just 24 hours, where we managed to agree on the offer, exchange contracts and complete the sale within the same day. However, this was an exceptionally rare situation, as it required all documents to be prepared in advance and all parties involved to act quickly.

In most cases, even the quickest cash sales usually take around 7 days. This time frame allows for essential processes like conveyancing, legal AML checks and documentation preparation to be completed efficiently. 

The speed of the sale is largely determined by how quickly both the buyer’s and seller’s solicitors can process the paperwork. For most transactions, this 7 day window provides enough time to complete the sale while ensuring all legal aspects are covered.

In comparison, sales involving mortgages or property chains can take much longer, often ranging from 4 to 12 weeks. The simplicity of cash sales, without the need for mortgage approval or waiting on other buyers in a chain, significantly accelerates the process. But, achieving a sale within a day or even within a week requires exceptional coordination and preparation.

Can a cash sale go through in 2 weeks?

Yes, it’s completely possible for a cash house sale to be completed within 2 weeks, and this is often the average timeframe that many professional cash house buying companies aim for. During this period, the company usually makes an offer within the first few days, followed by the exchange of contracts and completion of the sale on or around the 14 day mark.

Once the sale is completed, the funds are usually transferred quickly, often within 1 to 48 hours, depending on the agreed terms and how swiftly the legal and banking processes are managed.

If you are selling with a cash buyer on the open market, your ability to complete a sale in this timeframe is largely due to the absence of a mortgage process or property chain, which significantly speeds things up. 

Cash buyers are not dependent on mortgage approvals or the sale of their own property, which are common factors that slow down traditional sales. Additionally, experienced cash buyers often have streamlined legal teams to fast-track conveyancing and ensure that everything is handled efficiently within the 2 week window.

While a 2 week sale is realistic, factors such as the complexity of the title, any outstanding legal issues or delays in obtaining documentation may extend the timeline slightly.

What is a cash house buying company?

A cash house buying company is a business that buys homes directly from sellers, offering the advantage of speed and simplicity in the buying process. These companies can buy houses outright using funds they have readily available, without needing to rely on mortgages or loans, which enables them to operate on much faster timelines than traditional estate agents.

One of the disadvantages of cash house buying companies is that sellers usually receive an offer that is below market value in exchange for the convenience of a fast, and guaranteed sale.

One important distinction to make is that while many companies advertise as cash buyers, not all of them have the liquidity to buy homes directly. Some act as intermediaries, selling the properties on to third party investors or securing financing only after agreeing to buy a property. Therefore it’s important for sellers to ensure they are dealing with a genuine cash buyer.

Here at The Property Buying Company, we are a genuine cash buyer with millions of pounds in financing. We buy thousands of homes directly each year, offering a reliable and quick sale to homeowners. However, due to the volume of inquiries, we can’t always buy every property ourselves.

To accommodate sellers whose homes we cannot buy directly, we work with a network of over 3,000 cash investors who are able to buy those properties quickly and without delays.

Is it quicker selling your house to a cash house buying company?

Yes, selling your house to a cash house buying company is significantly faster than selling through traditional methods such as estate agents or auctions. When you sell to a genuine cash buyer, you can typically complete the sale in as little as 7 days, with the majority of sales being completed within two to three weeks.

Selling to a cash house buying company offers more certainty than traditional methods. Once a formal offer is made, it is usually a fixed offer, meaning you will receive the agreed upon amount upon the completion of the sale. 

Unlike open market sales, where offers can fall through due to financing issues or other complications, cash sales provide a higher level of security and predictability. 

While estate agents or auction sales can often take months and come with no guarantees, cash house buying companies offer a quicker and more reliable solution, especially for sellers who need to move fast due to financial concerns, relocation or to avoid lengthy and uncertain chains.

If you are looking to sell your house for cash, then The Property Buying Company is the fastest route to do this. We can buy your house in as little as 7 days, all while covering your fees and associated selling costs (including your legal fees).

Why would someone sell a house for cash?

There are a few reasons why you might specifically seek out a cash buyer for your property. The process is quicker, involves less paperwork and eliminates the complications of property chains (just to name a few). 

Below are some other reasons why you may want sell your house for cash:

Things to consider when selling to a cash buyer

If you’re looking to sell to a cash buyer, as you’re wanting to get a quicker sale, there are a few things you need to consider, as the process with a cash buyer will be different to selling to a buyer on the open market who requires a mortgage.

If you’ve decided to sell to a cash buyer, either through the open market or a cash house buying company, here are some things you need to consider:

• Ask to be provided with proof of funds

• Have all the paperwork checked by an independent solicitor

• Ensure they’re not requesting a BIG discount off the market value (25% or more)

• Check for any tie-in clauses

• Make sure you’re aware of the consequences for any party who pulls out of the sale

• If you’re selling to a cash house buying company, check their valuation process

• Also with a cash house buying company, if they offer to pay the legal fees, check to see if they will cover the fees of your chosen legal firm

• Ask whether they want to conduct a survey and searches

• Ask how quickly they can complete and whether there could be any potential delays

• If you’re selling to a cash house buying company, check whether they’re buying your property directly or if they’re passing your details onto a third-party buyer

• Also with a cash house buying company, check to see if they’re a member of The Property Ombudsman and the National Association of Property Buyers

How do you sell your house fast for cash

Selling a house for cash can be a quick and easy way to avoid the lengthy process often associated with selling with an estate agent. To sell a house for cash, homeowners should first research reputable cash buyers, such as The Property Buying Company, and make sure they are registered with organisations like The Property Ombudsman for protection.

After getting a cash offer, you can either agree or reject the offer. If you agree then you get to bypass the need for extensive paperwork, waiting for buyer mortgage approval and lengthy property chains. This route can be particularly beneficial if you need a fast sale due to financial reasons, relocation or avoiding repossession. 

However, it’s important to weigh the pros and cons, as cash offers are usually Below Market Value but offer certainty and speed in exchange.

Our fast cash house buying process

If you’ve decided a cash buyer is the option for you, let us explain how our ‘cash for house’ buying process works. Our process is much simpler and quicker than the open market, with our main selling point being the speed of our cash sales.

We’ve worked hard to streamline the process into just five steps to make it the fastest cash sale possible. You can see these steps laid out below:

1. Enter your postcode into our get an offer page and answer a few simple questions about your property – how many bedrooms you’ve got, your house type, nothing too difficult! After that, we will let you know if your property has been approved.

2. Once we’ve got your information, one of our experienced property consultants will give you a call after doing some research on your property. They will discuss your property with you in more detail, talking mainly about its condition, which will allow them to provide you with a conditional initial offer.

3. If you’re happy with the initial offer, we’ll then arrange for one of our regional managers to come and visit the property in person. Our regional managers have expert local knowledge and are able to inspect the condition in more detail in order to finalise an offer.

4. If you accept the finalised offer, our progressions team will get in touch with you to talk about instructing one of our recommended solicitors, and we will remind you that we cover all the legal fees, leaving you not needing to pay a penny.

5. Once the RICS report is back, providing everything lines up, we will finalise all the legal work, allowing us to exchange contracts and complete on a day that suits you!

Are we right for you?

We pride ourselves on being transparent about our quick cash for house service, it’s not for everyone. That’s why it’s important to consider whether it’s the right option for you. Our primary offering is speed, making us an ideal choice for those needing a fast sale. However, if you have the time to wait on the open market, you might achieve a higher sale price, though there are no guarantees. 

Our service could be the best fit if you find yourself in any of the following situations:

Sell your home quickly for cash with us!

We’re more than just a standard cash house buying company. The Property Buying Company is owned and operated by property professionals, founded in 2012, and with over 100 years of combined experience, you can be sure you’re in safe hands.

As we’ve mentioned, we’re also a member of The Property Ombudsman and the National Association of Property Buyers and we’re rated excellent on Trustpilot, with over 1,000 reviews, further emphasising why we’re the people you can rely on.

On top of this, we understand what it’s like to sell a property, with all the stresses that come along with it, so we will always be up for a chat to listen to your worries, and we will do our best to help you out.

We will also handle the whole process for you, to make it as hassle-free as possible. We will always be open and honest about our process and service – we will tell you upfront what we can offer for your property, and we will keep you constantly updated, including any issues we face and how we will do our best to overcome them for you.

Compared to the open market, we will cover all your fees and can complete in a timescale of your choice, meaning, with us, a cash sale will be quicker!