We had the pleasure of being featured in The Times day in a property piece about the benefits of being a cash buyer in the current market, quoting our Founder Jennie Hancock.

As a buyer, cash is king right now. Over the last few months, the local housing market has turned from being price led to the ability to purchase, highlighting the importance of being a cash buyer when looking for a prime country house in West Sussex. Multiple estate agents are calling us far more frequently for access to our clients as a result, because as a buying agent, we only work with those who are proceedable. Their vendors are nervous about selling to somebody who is relying on a mortgage, where the risk of a sales transaction falling through or being delayed due to possible hiccups such as down valuing or failing a ‘stress test’ is much higher. Whereas cash buyers are chain free, have the funds ready in the bank and can act quickly, which minimises the risk and worry of them pulling out of a sale substantially. Stress levels are also reduced for both parties as the sale is pretty much guaranteed to progress without much delay, and with minimal risk of falling through. If somebody is buying in cash, this also helps shorten the process. Recognising the advantages, many of our clients who initially had relatively small mortgages have reduced their budgets since interest rates rose, so that they can solely be a cash buyer.

For example, we have recently secured a property for a client less than the guide price because they were complete cash and could offer security and flexibility, enabling the vendors to secure their onward purchase. We have also recently secured a family home in the Chichester area off market where our lower offer was accepted because our client was a good proceedable buyer and the owner didn’t want to put the house on the open market.

Recognising the advantages, many of our buyers who initially had relatively small mortgages have reduced their budgets since interest rates rose, so that they can solely be a cash buyer in the current market.

Read the full article here.  (paywall)

Property Acquisitions was quoted in The Spectator today, discussing what’s in and what’s out in the world of property. We mention annexes as a key property trend for 2023. Buyers that didn’t need an annexe before are considering them when house-hunting as they can be used as a back-up income stream. Rental income can cover increased interest rates. As an added bonus, the buyer can also get multiple dwellings relief from the stamp duty.

Read the full piece here where veg patches, wild lakes and flower meadows are very much on trend right now, whilst swimming pools, fixer uppers and sofas are on their way out…

Our Director, Jennie Hancock was included in a This is Money piece on the best and worst counties for securing a house price discount. Jennie provides her top tips for buyers in West Sussex, which includes putting the offer in its best light and explaining your circumstances.

Read the full article here.