How to Find Real Estate Cash Buyers for a Quick Sale
Whether you’re an investor looking for a speedy sale so you can move on to your next deal, or a homeowner trying to unload a property quickly to avoid financial strain, you’re in search of real estate cash buyers to purchase your house without a lengthy or uncertain process.
With the slower real estate market of 2024 — at least compared to the previous few years — the average days on market between listing and accepting an offer has certainly risen. Plus, according to ICE Mortgage Technology, it takes 43 days on average to close a home purchase loan. If you are selling a house for a job relocation or want to move on with your life after a divorce, how long it takes to sell a house can certainly feel like an eternity.
Dan Colofranson, a top real estate agent in Cape Coral, Florida, says cash buyers can eliminate uncertainty, whereas mortgage-backed home purchases can come with delays or even deal-breakers, such as a home appraisal coming in low.
Benefits of real estate cash buyers
Reduce the time it takes to close your sale. Turnaround time for a cash sale typically takes as little as two weeks because you bypass the most time-consuming steps of a buyer getting a mortgage and appraisal.
Take away risks of your sale falling through. According to NAR’s April 2024 Confidence Index Survey, 4% of recent real estate contracts were terminated. Inspection, appraisal, and financing issues are all common reasons deals fall through, which are less likely with cash buyers pursuing an as-is home sale.
Save money on repairs and commission. Investors making a cash offer are more likely to purchase a house as-is, so you can cut costs for renovations, staging, and curb appeal projects. When you add in agent commissions, you could save an average of $31,000 in selling costs, according to HomeLight data.
Sell your home without the headaches and hassle. You’ll avoid the inconvenience of showings, open houses, and renovations.
Move according to your time frame. Since you don’t have to wait for a third party to approve a loan or appraisal, you’ve got flexibility on your closing date so you can move when it suits your schedule.
According to the National Association of Realtors (NAR) April 2024 Confidence Survey, cash purchases comprised 28% of transactions in April 2024, unchanged from April 2023. Colofranson expects this to rise with higher interest rates and while inventory remains low.
So how can you cash in on the opportunity to sell your house quickly and reduce upfront costs? Top agents and experienced investors recommend these seven strategies to find cash buyers for houses.
