How to buy a house with cash

If you can afford it, it might seem sensible to minimise your debt by not taking out a mortgage. But is buying a house with cash the best option for you?

Buying a house with cash means buying a house without the help of a mortgage or loan. The definition of a cash buyer is often misunderstood – they must have the cash available at the time of putting in an offer. As a result, to be a cash buyer you must be able to afford the new property without relying on the money from selling your old one.

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.

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