Is This Cash House Buyer Genuine? How to Check Before You Commit
Why the question matters, and why most advice misses the point
The cash house buying sector in England and Wales is not regulated by any government body. The Property Ombudsman and the National Association of Property Buyers provide frameworks, but both organisations openly state that they are not regulators and have no power to fine companies or take legal action against them. That matters because the most common complaint in the sector, a buyer agreeing a price and then cutting it days before completion, is technically legal until contracts exchange.
This page exists because SmoothSale thinks that is unacceptable. We are a direct cash buyer. We buy with our own funds. We are registered with both the NAPB and the TPO. And we are putting our credentials on the table here so you can judge them for yourself.
Whether you are considering SmoothSale or any other buyer, the questions on this page are the ones you should ask before you commit to anything.
Not all 'cash buyers' are cash buyers. Here is what you are actually dealing with
When you search for a cash house buyer online, four very different types of company appear, and they all look identical from the outside.
Genuine direct buyers purchase your property with their own funds held in their own account. They can complete in 7 to 28 days without needing anyone else’s approval. This is what SmoothSale is.
Borrowed-money buyers purchase directly but use bridging finance or private equity rather than their own cash. Their offer depends on a third-party releasing funds. If that backing is withdrawn or delayed, your sale stalls regardless of what they promised you.
Brokers do not buy your property at all. They find an investor to buy it and take a fee or the margin between what they offered you and what the investor pays. Your sale is only as certain as their ability to find a buyer.
Lead generators are not buying or selling anything. They collect your details and sell them to third parties. You may receive calls from several different companies, none of whom have funds available.
The question to ask any buyer before you go any further: ‘Is it your own cash, held in your own account, available right now?’ A genuine buyer answers yes without hesitation. Any other answer is a reason to stop.
Get a Cash Offer
The four things a genuine cash buyer can always do
How SmoothSale is regulated, and what that means for you
SmoothSale is registered with the National Association of Property Buyers (NAPB) and The Property Ombudsman (TPO). You can verify both memberships directly:
NAPB: napb.co.uk | TPO: tpos.co.uk
SmoothSale is operated by PLH Capital Limited, company number 13115021, registered in England and Wales. You can search our registration and directorship history on Companies House at any time.
Being a member of the NAPB and TPO does not make a buyer automatically trustworthy, as the sector’s critics rightly point out, neither body can fine or regulate members in the way that statutory bodies can. What it does mean is that we have committed to a Code of Practice, that sellers have access to free independent dispute resolution through the TPO if something goes wrong, and that we are publicly searchable rather than anonymous.
We cover your legal and conveyancing costs. We make no upfront charges. We do not use option agreements or lock-in contracts. We do not market your property to investors while telling you we are buying it directly.
“I have been buying properties for cash in England and Wales for over a decade, and the number of sellers I speak to who have already been through a bad experience with another buyer is significant. The most common story is the same every time: a high initial offer, a smooth start, and then a price reduction a week before completion when the seller has nowhere else to turn. I understand why the sector has the reputation it has.
When we make an offer at SmoothSale, we put it in writing and we mean it. We have our own funds, we have our own solicitors, and we complete on the date we say we will. I am happy for any seller to ask us for proof of funds before they decide anything. That is not a risk for us, it is the point.”
Jack Pirondini, Director, SmoothSale
Nine red flags that should end the conversation immediately
These are the warning signs that apply regardless of which buyer you are considering. Walk away from any company that:
1. Asks for an upfront payment of any kind — valuation fee, admin fee, or ‘refundable deposit’.
2. Cannot provide written proof that the purchase funds are in their account today.
3. Asks you to sign an option agreement, exclusivity contract, or RX1 restriction before making a formal offer.
4. Claims to offer 90%, 95%, or 100% of market value for a guaranteed cash purchase, this is not possible when buying directly at speed and covering transaction costs.
5. Claims the industry is ‘regulated by the government’, it is not.
6. Cannot show a verifiable Companies House registration number on their website.
7. Markets your property on Rightmove or Zoopla before they have purchased it from you.
8. Mentions ‘assigning your agreement’ or ‘a list of investors’, these are broker or lead generator signals.
9. Reduces their offer after the valuation without providing written evidence of a specific structural or legal defect to justify the reduction.
If you have already received an offer and you want an independent view on whether it looks legitimate, you are welcome to contact us. We are not going to pressure you into using SmoothSale, but we are happy to tell you honestly whether what you have been offered looks reasonable.
Everything you need to know before selling to a cash buyer
How to check if a cash house buyer is genuine
The step-by-step verification process: what to search, what to ask, and what the answers should look like.
What is gazundering and how do you avoid it?
An explanation of the most common complaint in the sector and the written protection you should demand before you commit.
What is the NAPB and why does it matter when selling your home?
What the National Association of Property Buyers is, what membership actually means, and how to verify it yourself.
What is The Property Ombudsman and what protection does it give sellers?
How the TPO scheme works, what it can and cannot do if something goes wrong, and why it matters which scheme a buyer belongs to.
What is proof of funds and why should you always ask for it?
The difference between proof of funds and a funding agreement, and why only one of them means the money is actually there.
Why do cash buyers offer less than market value? The honest answer
A plain English breakdown of where the discount comes from, the costs a cash buyer absorbs so you do not have to.
What is after repair value and how does it affect your offer?
How buyers calculate the resale price of your property and why that figure drives what they are able to offer you.
How does selling to a cash buyer actually work, step by step?
The full timeline from first enquiry to completion, with every stage explained in plain English.
What is a completion timeline and what happens between offer and exchange?
What happens after you accept an offer and why some sales complete faster than others.
Do I need a solicitor to sell to a cash buyer?
What your solicitor does in a cash sale, why you should always use your own rather than the buyer’s, and what SmoothSale covers.
Get a Cash Offer
Questions we get asked
How do I check if a cash house buyer is genuine?
Ask for written proof that the purchase funds are in their account today, a current bank statement or a letter from their solicitor confirming the funds are available.
Check their Companies House registration number against the directors listed on their website. Verify their NAPB and TPO membership on the respective scheme websites. If they cannot provide proof of funds, are not listed on both schemes, or ask you to sign any contract before making a formal offer, walk away.
What is the difference between a cash buyer and a broker?
A cash buyer purchases your property directly using their own funds. A broker matches you with a third-party investor who buys the property, taking a fee or the gap between the price offered to you and what the investor pays. Brokers cannot guarantee a sale because they are dependent on finding a buyer. If a company mentions investors, assigns your agreement, or lists your property on Rightmove before purchasing it, they are acting as a broker not a buyer.
Is the cash house buying industry regulated in the UK?
No. The cash house buying sector is not regulated by any government body. The National Association of Property Buyers and The Property Ombudsman provide voluntary frameworks and dispute resolution, but both organisations state publicly that they are not regulators and cannot fine or take legal action against members. NAPB and TPO membership signals a commitment to a Code of Practice and access to independent redress, but it does not guarantee a buyer is trustworthy. You need to verify credentials independently.
What is gazundering and how do I protect myself?
Gazundering is when a buyer reduces their offer at the last minute, after you have committed to the sale and have little practical option but to accept. It is legal because a property offer is not binding until contracts exchange. The only effective protection is a written commitment from the buyer stating that their offer will not change unless a significant undisclosed defect is identified by survey. Ask for this in writing before you proceed.
What percentage of market value do genuine cash buyers offer?
Genuine direct cash buyers typically offer between 75% and 85% of market value. The discount exists because the buyer absorbs the costs and risks of a fast purchase: stamp duty, holding costs, conveyancing fees, refurbishment, and the risk of resale in a moving market. Any buyer claiming to offer 90%, 95%, or 100% of market value for a guaranteed direct cash purchase is not being truthful about how the transaction works.
What is an option agreement and should I sign one?
An option agreement is a contract that gives a company the right to buy your property within a set period without obliging them to complete the purchase. It often prevents you from selling to anyone else during that period. Option agreements are used by brokers and intermediaries to hold a seller in place while they find an investor or secure funding. A genuine direct cash buyer has no need for an option agreement.
Do cash buyers cover legal fees?
Reputable direct cash buyers cover your legal and conveyancing costs as part of the transaction. You should not pay estate agent fees, solicitor fees, or valuation fees when selling to a genuine cash buyer. If a company asks you to pay for a valuation before putting an offer in writing, or charges withdrawal or admin fees, do not proceed. These are established warning signs of a company operating in bad faith.
How quickly can a genuine cash buyer complete?
A genuine direct cash buyer with funds available can typically complete in 7 to 28 days, depending on the conveyancing process and any legal complexities with the title. Some properties, particularly leaseholds or those with title issues, take longer regardless of how quickly a buyer wants to move. Be cautious of any company guaranteeing 24 or 48-hour completions as a standard promise across all property types.
Is SmoothSale a genuine cash buyer or a broker?
SmoothSale is a direct cash buyer. We purchase properties using our own funds, held in our own account. We are not a broker, lead generator, or intermediary. We are registered with the National Association of Property Buyers and The Property Ombudsman. Our operating company is PLH Capital Limited, Companies House number 13115021. We can provide solicitor-certified proof of funds on request.
Can I sell to a cash buyer if I still have a mortgage?
Yes. If you have an outstanding mortgage, it is repaid from the sale proceeds at completion, the same as with any other property sale. Your solicitor manages the redemption of the mortgage with your lender as part of the conveyancing process. You receive the net proceeds after the mortgage is cleared. SmoothSale works with solicitors who handle this as a standard part of every transaction.
