Considering selling your house and wondering what happens if you sell it for cash? Cash sales are similar to traditionally financed sales, though there are some key differences you should know.

In this post, our Ocala realtors at Your Home Sold Guaranteed Realty - Coldwell Real Estate Services will discuss what to expect when you sell your house for cash, so you can prepare for a successful sale.

Key Takeaways:

• Cash offers can come from individual buyers or investors, investment companies, and iBuyers. The type of offers you attract depends on your personal preferences and sales goals. 
• A key difference between a cash sale and a financed sale is that you’ll have to verify the buyer and ask for proof of funds. If you’re selling to an investment company or iBuyer, take time to do some research and make sure they’re reputable.
• The closing process in a cash sale is much faster compared to a financed sale since there’s no lender involved in the process. You’ll need to gather necessary paperwork like the property deed, title documents, and any disclosures. 

What Happens If You Sell Your House For Cash?

Getting a Cash Offer

Cash offers can come from individual buyers or investors, investment companies, and iBuyers. The type of offers you attract depends on your personal preferences and sales goals. 

For example, if you want to sell as fast as possible and are willing to sacrifice some profit, an iBuyer could be a good choice. But if you want the best possible offer with the highest price, then accepting offers from individual buyers, investors, and investment companies is a better route. 

Offers from these sources are based on market data, comparable sales, and the condition of your home. As a result, they are more likely to align with your home’s actual market value compared to offers from iBuyers, which can be 70% to 80% of its fair market value.

What to Do After Getting a Cash Offer

• Review Offer Terms: Review the terms and conditions of the buyer’s initial offer, including the purchase price, contingencies, and proposed closing timeline. If you’re using an iBuyer, consider what fees are associated with the transaction and whether they’ll affect your profit.
• Check the Buyer’s Background: A key difference between a cash sale and a financed sale is that you’ll have to verify the buyer and ask for proof of funds. If you’re selling to an investment company or iBuyer, take time to do some research and make sure they’re reputable. If you’re selling to an individual cash buyer, ask for a proof of funds letter to ensure they have the funds necessary to complete the transaction.
• Start Negotiation: If the buyer’s initial offer doesn’t meet your expectations, you can negotiate to reach a more favorable deal. Your realtor can help you come up with an offer that’s mutually acceptable to both parties. However, keep in mind that you won’t be able to negotiate with an iBuyer.
• Accepting the Offer: After you’ve come to an agreement with the buyer, you’ll sign a purchase agreement and enter the closing process. Coordinate with the cash buyer to schedule a final closing date that works for both parties. 
• Start the Closing Process: The closing process in a cash sale is much faster compared to a financed sale since there’s no lender involved in the process. You’ll need to gather necessary paperwork like the property deed, title documents, and any disclosures. 
• Final Closing Day: On the final closing date, you’ll meet with the buyer to sign any remaining paperwork, finalize the sale, and receive the cash. The cash payment is usually made through a cashier’s check or wire transfer. Once you receive the funds and all the documents are signed, ownership of the property will be officially transferred to the cash buyer.

Contact Us Today to Sell Your Ocala House For Cash

Working with a realtor who’s experienced with cash sales is the best way to ensure a smooth transaction. If you want to sell your home for cash in Ocala or other parts of North Central Florida, work with Scott Coldwell and our team at Your Home Sold Guaranteed Realty - Coldwell Real Estate Services. 

With 20+ years of experience in the industry, we are deeply familiar with the local housing market in Ocala and know how to market and price your home for a successful cash sale. Plus, with our seller guarantees such as our Guaranteed Sale Program, you can ensure a risk-free home-selling experience.

Contact us today at 352-290-3512, send a message to [javascript protected email address], or use the form on this page to learn more about working with our team. Selling your home doesn’t have to be stressful when you work with the best realtor in Ocala and all of North Central Florida!

To Discuss Your Home Sale or Purchase, Call or Text Today and Start Packing!