How to Sell Your House to A Cash Buyer: What You Need to Know

Updated: Jan 13

Selling your home can be stressful and overwhelming. However, the process could prove to be much simpler when working with a cash home buyer! If you've never done so before, you might be wondering how to sell your house to a cash buyer and what it entails.


It's a tough market out there for home sellers. Interest rates are low, inventory is high and buyers have all the power. It's becoming more difficult to get homes sold through traditional means.


Understanding what's involved in selling your home for cash and what to expect will help determine if this is the best option for you.


In this blog, our cash house buying experts at Space Coast Capital will cover:

  • What is a home cash buyer is

  • What it means to sell a house to a cash buyer

  • How to sell your house to a cash buyer

  • What the process of selling a home for cash looks like

  • Benefits of selling your house to a cash buyer


Image of house keys next to bundle of cash for all cash home buying deal.
How to Sell Your House to A Cash Buyer

People Also Ask:


Why sell your house to a cash buyer?


Selling a house for cash can save thousands in closing costs. You'll save on things like appraisal and doc fees, and credit checks. These costs are usually higher when selling through conventional means.


Are cash house buyers better?


When a cash buyer shows interest in your house, it's because they have the money to purchase it. They'll also take care of virtually all processes involved and so are less likely to change their minds!


Table of Contents:

  1. What Is A Cash Home Buyer Exactly?

  2. What Does It Mean to Sell A House To A Cash Buyer?

  3. How to Sell Your House to A Cash Buyer: Getting Started

  4. Know The Value of Your Home

  5. Do Your Research When Looking For A Cash Buyer

  6. Ask Questions

  7. Received A Cash Offer? Here's What To Do Next!

  8. Review Offer Terms

  9. Determine The Legitimacy of The Cash Offer

  10. Happy With The Offer? It's Time to Sign The Contract!

  11. How to Sell Your House to A Cash Buyer: The Process Explained

  12. Essentials for Closing A Cash Real Estate Deal

  13. 5 Notable Benefits Of Selling Your Home To Cash Buyers

  14. Conclusion

What Is A Cash Home Buyer Exactly?


A cash home buyer is a real estate company or individual that wants to buy the house you're looking to sell for cash. The offer they put forth on the property is typically an all-cash business transaction, also known as an all-cash home offer.


This means that selling your house to a cash buyer doesn't require:

The funds that cash home buyers use to buy your home can come from means of investments, savings, or sales of other properties.


What Does It Mean to Sell A House To A Cash Buyer?


When you decide to sell your house to a cash buyer, it generally means that the home buying process is quicker and more straightforward.


When you sell your home directly to a cash buyer, they'll handle everything!


Such as:

At Space Coast Capital, our team of trusted cash buyers does all we can to buy it at full market value. This means that our experts work with you to ensure that the offer we provide is based on the current market conditions.


How to Sell Your House to A Cash Buyer: Getting Started


A lot of sellers think that "cash offers" include a buyer showing up at their front door with a briefcase full of cash. This is not the case.


An all-cash home offer simply means there's no financing contingency. In other words, the sale isn't dependent on the buyer securing a loan. However, this doesn't make the process of selling your home to a cash buyer any less mysterious.


Our home cash buyers at Space Coast Capital are here to help you understand how to get started! Continue reading to gain step-by-step information about selling your home for cash!


Know The Value of Your Home


Sellers gain many benefits from using a cash buyer, including the ability to sell their home sooner than they would otherwise be able to. However, cash offers have a history of being tricky.


It's essential for sellers to know the full value of their homes before striking a deal to ensure they're not being underbought.

Just as important, you should partner with reputable cash buyers that will base on your offer off of:

Do Your Research When Looking For A Cash Buyer


Once you know how much your home is worth, it’s time to find a cash buyer. That sounds straightforward enough, but this is where things can get confusing.


Selling a house is one of the most significant experiences in life. As such, it's essential to do your research.


When looking to partner with a cash buyer, doing your due diligence can help with:

  • Finding a trustworthy buyer

  • Weeding out and steering clear of possible scammers

  • Resulting in the best cash deal possible

You can begin by checking out the websites of cash buyers, making sure they're actually purchased homes. You can also contact them to ask about past sales and obtain their references.


Ask Questions


When you're ready to make contact with buyers who are interested in purchasing your house, be sure to ask questions.


Common questions our team at Space Coast Capital get asked include:

  • What is your house cash buying process?

  • Can you provide proof of funds?

  • What is your average cash home closing time frame?

  • Have you purchased homes in my area before?

  • How do you determine cash offers for houses?

Received A Cash Offer? Here's What To Do Next!


Congratulations! You’ve received an all-cash offer for your home!


Now what?


Take time to review your offer. Since there's no one strategy to calculate the strength of a cash offer, you can determine the deal through several ways.


These factors often include weighing in other things besides how much you'll profit. Below are some key things to consider when assessing your all-cash offer.


Review Offer Terms


Price is one thing, but not all cash offers provide the same terms. Make sure to read the fine print to identify what steps your buyer requests before closing the deal.


For example, some cash home buyers:

  • Purchase homes "as-is", but still want an inspection

  • Waive the inspection, but offer a reduced price

  • May still ask for an appraisal before closing

Negotiating your offer terms also depends on factors like your home's current condition and whether it's a seller's market. The fewer contract contingencies, the better for you as the seller!


Determine The Legitimacy of The Cash Offer


Before moving forward and agreeing to the offer, you should take steps to ensure its legitimacy.


This can include:

  • Determining if the buyer has a good closing track record

  • Having an attorney review the contract terms if the buyer isn't using a standard contract

  • Asking for proof of funds to confirm the buyer has the money available to complete the purchase

Verification of funds can come from a bank letter certified with an official letterhead and signature of an authorized bank professional. You can call the bank to verify the funds.


Don't simply accept a letter from a buyer stating that they have the money!


Happy With The Offer? It's Time to Sign The Contract!


Once you accept the cash offer, you'll want to sign the contract. This part is similar to what happens during a traditional house sale. You can have an attorney review the contract terms, or you can accept them and sign the contract without legal assistance.


The buyer contract should include the following:

  • Buying price

  • Deposit amount

  • Closing date

How to Sell Your House to A Cash Buyer: The Process Explained


Did you know that the average family home sold for cash jumped up another 30% in the U.S.? But, there's a lot more to selling your house than just accepting an all-cash offer.

Below is what steps to expect when partnering with reputable cash home buyers, like Space Coast Capital.

  • Cash buyer evaluates your property

  • Buyer makes a cash offer

  • Seller (you) accepts offer

  • Seller chooses closing date

  • Sign purchase and sales contract agreement

  • Cash buyer hires title and escrow company

  • Buyer and seller sign closing paperwork

Essentials for Closing A Cash Real Estate Deal


Now that you understand what it takes to sell your house for cash, here's what you'll need to bring to close the deal:

  • Your driver's license (government-issued ID)

  • The deed to your home, if it's paid off

  • House keys, codes to any alarm systems, and garage door remotes

  • A cashier's check or bank certified check to cover potential outstanding costs not covered by the profits of the sale. These can include property taxes, lien payments, and prorated utilities.

  • Any documents your attorney instructs you to bring

5 Notable Benefits Of Selling Your Home To Cash Buyers


Selling your house to cash buyers can be fast. But, aside from that, there are many benefits you could get out of this process!


Five significant benefits include:

  1. All money is yours (No realtor commission needed)

  2. More convenience, less hassle

  3. No need for house repairs or improvements beforehand

  4. No need to stress about showings or staging

  5. Less chance of sales fallthrough

Conclusion


Now that we've covered how to sell your house to a cash buyer, it's time for you to determine if it's right for you.


Are you ready to get in touch with a team of experienced and reputable cash home buyers?


Learn how easy the process of selling your home for cash can be by contacting our experts at Space Coast Capital today!

8 views0 comments