Accepted offer from cash buyer, could someone talk me through the process please?

ConfusedAboutSellingHouse89 · 2025-09-04T08:54:29+00:00

My DP has just accepted an offer on his house from a cash buyer. He does not have a house lined up to move into, and is currently spiralling a bit and i think he regrets accepting the offer. He has ADHD and is also very stressed at work at the moment so is really struggling. He inherited the house so has never had to deal with buying/selling before. The house was on the market for about a year with only very low offers until now (although this one is still well below asking price). He is unsure of whether to try to buy a house in time so that he has somewhere ready to move on completion, or rent somewhere in the meantime which will give him more time to find somewhere more permanent. I'm just wondering if anyone could talk me through the process and how long things are likely to take if he goes ahead with the sale? Has anyone been through this situation where they accepted an offer without somewhere else lined up? He is really anxious and I'm struggling to help him.

ComeTheMoment · 04/09/2025 09:59

A lot will depend on the chain as to how quickly things will move. Other than that it's no different from a buyer who needs to get a mortgage.

We were cash buyers, money all sorted on instant access & had nothing to sell. The person our vendors were buying from was end of the chain. It still took 3 months.

It is quite common for a vendor not to have found somewhere themselves & your DP should make the buyers aware.

PragmaticIsh · 04/09/2025 10:00

A rough estimate is three or four months for a purchase or sale, BUT it can be done in six weeks or it can take a lot longer!! If he keeps the sale separate, without a linked purchase, then it is likely to be faster. Linking a purchase and creating a chain is more stressful but then rentiing is expensive and it means moving twice.

Renting for short term can be tricky, most places will be six months minimum but you can get Airbnb type places for short-term in the winter sometimes.

PragmaticIsh · 04/09/2025 10:02

If he inherited the property then make sure he has the relevant paperwork ready for his solicitor. I know being organised with paperwork can be tricky with adhd, so getting that ready in advance should reduce last minute stress.

canyon2000 · 04/09/2025 10:12

Renting is expensive, but if he puts the lump sum from the sale into a high interest savings account then he will be making some money from that.

housethatbuiltme · 04/09/2025 10:32

A cash buyer CAN move quickly (28 days) if they don't do searches etc... (thats why auctions are quick as thats all pre-done in the buyers pack) but with searches it takes 3-4 months.

I was a cash buyer and it took 14 weeks, we also weren't in a huge hurry either so if a seller needed a reasonable amount of time that would have been fine.

Original poster

ConfusedAboutSellingHouse89 · 04/09/2025 11:50

Thank you for all the replies. He is having a massive wobble at the moment and is thinking of pulling out altogether. It's very emotional as it's his childhood home and a big part of him doesn't want to let it go.

OP posts:

TheSummerof25 · 04/09/2025 11:52

If he’s not found somewhere he can delay the sale, but he needs to balance this against whether the buyer is willing to wait. A freehold sale typically takes 8+ weeks, but it can vary (more or less). Being cash doesn’t necessarily make it faster as usually the mortgage offer is back around the time searches are anyway.

Plantatreetoday · 04/09/2025 12:28

16 -20 weeks atm for a sale to go through

As it’s a cash buyer the conveyancers will have to check where all the money is coming from. This can take a while and for some reason only starts happening after all the searches have come back. The fraud checks happen as close to completion as possible.
So as it’s a cash buyer I’d say nearer the 20 weeks.

Plantatreetoday · 04/09/2025 12:29

housethatbuiltme · 04/09/2025 10:32

A cash buyer CAN move quickly (28 days) if they don't do searches etc... (thats why auctions are quick as thats all pre-done in the buyers pack) but with searches it takes 3-4 months.

I was a cash buyer and it took 14 weeks, we also weren't in a huge hurry either so if a seller needed a reasonable amount of time that would have been fine.

It takes longer now because of all the fraud checks. It’s not the quick sale that it used to be

Summerhillsquare · 04/09/2025 12:52

ConfusedAboutSellingHouse89 · 04/09/2025 11:50

Thank you for all the replies. He is having a massive wobble at the moment and is thinking of pulling out altogether. It's very emotional as it's his childhood home and a big part of him doesn't want to let it go.

Fine, but do it sooner rather than later out of fairness to the buyer.

If it's not in great condition, I'd press on. Dated houses are harder to sell.

housethatbuiltme · 04/09/2025 14:20

Plantatreetoday · 04/09/2025 12:28

16 -20 weeks atm for a sale to go through

As it’s a cash buyer the conveyancers will have to check where all the money is coming from. This can take a while and for some reason only starts happening after all the searches have come back. The fraud checks happen as close to completion as possible.
So as it’s a cash buyer I’d say nearer the 20 weeks.

No they don't, they where literally the first thing done when I bought.

EA did anti fraud checks before even sending the memorandum of sale and the solicitor confirmed the money and origin (which took 2 weeks as I had to get all the paper work together) before any searches and surveys.

Me tracking down paperwork is what took time, the checks where instant once they had the info.

Plantatreetoday · 04/09/2025 14:21

housethatbuiltme · 04/09/2025 14:20

No they don't, they where literally the first thing done when I bought.

EA did anti fraud checks before even sending the memorandum of sale and the solicitor confirmed the money and origin (which took 2 weeks as I had to get all the paper work together) before any searches and surveys.

Me tracking down paperwork is what took time, the checks where instant once they had the info.

Edited

Show quote history

and yet not when we were selling early this year
Both buyers ( one fell through) two seperate solicitors / conveyancers refused to tandem the searches and fraud checks

Estate agents only do basic checks. They do not have the legal right to undertake a full fraud check and neither are they insured to do so.

Every penny must be accounted for in terms of origin, this is done by a solicitor/ conveyancers only

Cluckycluck · 04/09/2025 16:52

I've been a cash buyer 3 times and each has taken 6/7 weeks. The last time I did it in 5 weeks (this was a year ago).

He needs to make the buyer aware he hasn't found anywhere yet as the process can go very quickly.

Cluckycluck · 04/09/2025 16:57

Plantatreetoday · 04/09/2025 12:28

16 -20 weeks atm for a sale to go through

As it’s a cash buyer the conveyancers will have to check where all the money is coming from. This can take a while and for some reason only starts happening after all the searches have come back. The fraud checks happen as close to completion as possible.
So as it’s a cash buyer I’d say nearer the 20 weeks.

Absolutely does not take 20 weeks.

Fraud checks can be done very quickly especially if you keep fully records of where your money has come from.

Cash buyers can and do ignore issues that come upon enquiries to get sales through quicker too.

Octavia64 · 04/09/2025 16:58

I have bought a house for cash.

the fraud checks can be very quick (mine was from a divorce and so very quick to check).

still took three months though

Plantatreetoday · 04/09/2025 18:27

Cluckycluck · 04/09/2025 16:57

Absolutely does not take 20 weeks.

Fraud checks can be done very quickly especially if you keep fully records of where your money has come from.

Cash buyers can and do ignore issues that come upon enquiries to get sales through quicker too.

Show quote history

We’ll have to agree to disagree. We were told by our solicitors and theirs 20ish weeks
and our sale that went through in January did indeed take this amount of time.
Held up and longer because of fraud checks

Plantatreetoday · 04/09/2025 18:29

Octavia64 · 04/09/2025 16:58

I have bought a house for cash.

the fraud checks can be very quick (mine was from a divorce and so very quick to check).

still took three months though

Fraud checks from a house sale, divorce, inheritance aren’t complicated but agree it’s still time

Most people have money coming from various sources. All have to be tracked and verified.

Plantatreetoday · 04/09/2025 18:31

Cluckycluck · 04/09/2025 16:52

I've been a cash buyer 3 times and each has taken 6/7 weeks. The last time I did it in 5 weeks (this was a year ago).

He needs to make the buyer aware he hasn't found anywhere yet as the process can go very quickly.

A year ago is not the same as now.

I’ve bought in auction in 21 and 28 days with no fraud checks.
Things have changed

Gingercar · 04/09/2025 21:10

Our sale to cash buyers is already at 15 weeks and is nowhere near exchanging, let alone completing. They just decided to do a survey after their own house completed, despite saying they weren’t going to. And both sets of solicitors have been pretty rubbish. I initially hoped we’d be completing about now, then I thought perhaps Halloween, and now I’m starting to think it will more likely be Xmas!