Do you have a property that you want to sell? Do you have a property that you need to sell – and sooner rather than later? If so, you are probably hoping that a buyer drops down and offers you your dream price, signs on the dotted line and deposits your money forthwith. 

In reality, though, it can take much longer, and the process can be much more frustrating. But choosing the right buyer can ameliorate the difficulties. Let’s look at different types of house buyers in UK.

Attracting a Buyer 

When you have a property that you want – or need – to sell, learning about the different types of buyers is critical so you can target the right one. 

Typical House Buyers UK

The group of “typical” house buyers in the UK can be quite large. They may include young professionals who want to get onto the property ladder. Parents who want to raise children in their own homes (preferably with a nice garden for outdoor play!). People who have outgrown their “starter” houses and need larger spaces. Retirees whose needs have changed and they need – and want – a bit less.

Whatever the circumstances, what tends to tie these buyers together is that they usually require a mortgage. They are “typical” buyers in that they need to work with a lender and will work with an estate agent to purchase a property along conventional lines.

To appeal to these buyers – and their lenders – you will need to make sure your house is market-ready. This includes making all necessary repairs, improvements and upgrades. This can be an extensive, and expensive, prospect. In many cases, sellers cannot recoup the money that they pour into the house they no longer need, want or can support. They will then need to list their house, stage it, store possessions and incur further costs in order to be appealing.

Bargain Hunters

Bargain hunters also fall into a few different categories. Some want an ideal home for a budget price! Others are willing to accept some defects and flaws as long as the price is right. They may be looking for property for any of the reasons we mentioned above, and they may also be dealing with a tighter budget.

With a lower price, you may escape the necessity of completing major improvement projects but it can be helpful to do some cosmetic work. Applying a fresh coat of paint in your rooms, replacing hardware and fixtures and boosting kerb appeal can all help you strike a reasonable balance between your desired asking price and a more realistic figure. 

Investors

Investors look at the value of the property – as well as the potential of the property. If a house is exceedingly run down but situated in an emerging neighbourhood, for example, the seller may be able to fetch a highly advantageous price because of the potential for development and resale.

Investors have any number of goals. They may demolish a structure because the land on which it sits is valuable. They may remodel and renovate it in order to convert it into rental units. They may hold onto it as part of their overall portfolio.

Like bargain hunters – and typical buyers, for that matter! – they are looking to get as much as they can for as low a cost as possible. Keep this in mind. 

Cash Buyers 

When looking for the right house buyer in the UK, consider “we buy any house” companies. These are cash buyers who have the financial wherewithal to complete purchases on a highly accelerated timeline. They seek to buy properties and, like investors, have a variety of reasons for doing so. The bottom line, however, is that they streamline the process and offer a desirable price for those who must sell quickly.

Cash buyers offer as much as 80% – 85% of total market value and are willing to buy properties “as is.” This means that you do not have to make a big investment in repairs and improvements – or, in fact, any investment at all. The house with a leaky roof; the home with faulty electrical systems; the inherited property that is too large to maintain… You can simply determine what you are willing to accept and see if a cash buyer is willing to pay. 

Which type of house buyer is right for your home and your situation?