Finding cash buyers is the dream of every house owner who desires to sell their property. Yet, the truth is that in most instances you’ll find buyers who require financing. Dealing with buyers who require financing can be a stressful experience.
From negotiating to drawing contracts and even the duration it takes to close a sale, the process can be draining. This also goes for those who are flipping houses because they are not only classified by contracts but also driven by the desire to make profits.
How then can you attract more cash buyers for your property? Here are 5 creative ways to attract cash buyers for your property:
- Find a list of cash buyers.
It is possible to find a list of potential cash buyers from conveyancers and solicitors. Today, technology has made it easy to access vital data making it easier to know how to target cash buyers. When you have a list of potential buyers, you can easily target them. You can look up a list of those who have homes but don’t have any mortgage. Homeowners who own or have invested in multiple properties are also another good target. When you have figured out these lists, you can now approach the house buyers through cold calls, cold emails or social media and any other platform through which you can reach them.
- Take time to research.
To attract buyers who will buy your house for cash, you need to take some time to look through online listings of real estate to have an idea of how much the houses sell for. You may realize that most of the cash buyers will purchase property for less than its actual market value. Alternatively, it could be that the houses were sold for cash at a reduced price because the property market was generally slow. All these factors will inform the decision you make to attract cash buyers.
- Identify the best and most reliable leads.
It is worth noting that while most stakeholders in the property market will want to do the right thing, there will always be some dishonest individuals who want to cheat the system. Thus, when they notice a seller is desperate, they will want to take advantage of your situation. This may be individuals like estate agents or quick house sale companies. Therefore, you must do a quick background check to ensure that they are genuine. At the very least they should profess membership to a professional body so you can seek redress in case things turn out badly.
- Identify a clear way to sell your house.
If you are certain you want to sell your house to a cash buyer, then you must make sure your estate agent knows about it. Estate agents may also advise you on the state of the market and what you can expect when you choose to sell your house to a cash buyer. The advice from your estate agent could help to quicken how long it takes to sell your house to a cash buyer. This may be through an auction where you set a minimum price or other means. Remember, estate agents will charge you a fee for their services so if you don’t want to incur any services then work independently.
- Set realistic expectations.
Once you have all the information you need about the current state of the market and the possible outcomes, you must balance these against your expectations. Have a minimum price in mind so that when you find an interested cash buyer you already know just how low you can go with the price. Most importantly, you must begin to see your property from the eyes of prospective buyers. This may mean making some improvements that don’t require any resources just to improve the appeal of the house and make it presentable.
Although selling your house to a cash buyer may be the best option, you must put in a lot of effort in finding the right buyers. While at it, keep in mind that not everyone is genuine so make sure you are working closely with your solicitor and conveyancer as they are most likely to have contacts of some potential buyers and will protect your interests. When you work with professionals or cash buyers who are also members of the National Association of property buyers, you can be sure to sell your property to a cash buyer and for a very reasonable rate giving you a realistic return for your investment.