What does 'Cash Buyer' mean when buying a property?
Find out what Cash Buyer means when you are buying a property. 'What does Cash Buyer mean?' plus over 150 other property related terms and jargon in plain English
A cash buyer is someone who does not need to borrow (take out a mortgage or loan) or to sell any property in order to buy.
Cash Buyer Only Properties
Some properties are offered for sale to "Cash Buyers Only". These are usually ones where a bank or other mortgage provider would not feel comfortable lending. Common cash only purchases would include :
- properties with uninsured subsidence.
There are actually ways to raise a mortgage on properties described as Cash Buyer Only via a 100% retention.
To find out more about cash buyers as well as Cash Buyer Only Properties (and how you can purchase one even if you need a mortgage) pick up a copy of my ebook How to Really Buy a Property.