What Is The Meaning of ‘Cash Buyers Only’?
Houses and properties advertised as ‘cash buyers only’ indicate that only buyers with cash on hand may make an offer. If you still need to get funding, a loan or mortgage, sell a current property, or you are waiting for incoming funds like a bonus or money from an estate, your offer may not be considered.
As a potential house buyer, you need to show proof that you have the full amount to make a house cash offer. Your bank statement will normally be accepted and payments need to come from your bank account, even if it is a cash gift. Funds from other countries are restricted and the source of the funds will be verified by the buyer’s conveyancer in accordance with regulations.
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