Selling to Florida Cash Home Buyers: Tips from Experts
Looking to connect with Florida cash home buyers for a quick sale in the Sunshine State? Good news: Housing in the Sunshine State is a hot commodity. And the state is projecting continued population growth for the next several years. Florida’s warm weather and tax-friendliness bring a steady stream of buyers to the market, and cash buyers help make sellers’ homes fly.
Whether you’re looking to unload your own beach rental, escape hurricane season, or seek to boost your Florida retirement savings with a quick property sale, review our guide to working with Florida cash home buyers and selling your house for cash whenever you’re ready.
Disclaimer: Information in this blog post is meant to be used for educational purposes only, not as a substitute for professional tax or legal advice. If you need help navigating the intricacies of selling your home in the state of Florida or elsewhere, HomeLight always encourages you to reach out to your own independent advisor.
How to find cash buyers in Florida
Looking to fast-track the sale of your Florida home but not sure how to find cash buyers? Max Cohen, the founder of FL Home Buyers, who has been working in real estate for nearly a decade, warns that it’s important to be careful when searching for cash buyers. Our network of experts shared some insider tips.
Work with a reputable local real estate agent.
There are plenty of reasons to have a real estate agent in your corner — visibility in the MLS, help with stagings and showings, assistance with negotiations and contracts, to name just a few — and now you can add sourcing a cash buyer to the list.
Sep Niakan, a top-performing Miami real estate agent specializing in condos and single-family homes, says that most agents have a broad network of active investors. This can save you the hassle of contacting cash buyers who may not be a good match for your property. The agent can check their database to see which investors are seeking a house similar to yours in terms of neighborhood, square footage, price range, and upgrades.
Focus on out-of-state buyers.
“Those who are looking to relocate to Florida are the most likely to be cash buyers right now,” says Justin Nepola, a real estate attorney in Hollywood, Florida. This is another area where a top agent can help you tap into the out-of-state market. Buyers who currently live elsewhere but are seeking homes in the Sunshine State will often team up with a Florida real estate agent who has intimate knowledge of the area.
Do your due diligence.
If a home-buying company has expressed interest in buying your property, Cohen says to check with sunbiz.org — the Division of Corporations, which is the state of Florida’s official business entity index and commercial activity website — to make sure the would-be buyer is a legitimate company registered with the state of Florida. Also, check to make sure the company is listed with the Better Business Bureau.
Before signing an offer, ask for proof of funds.
This may come in the form of a download or print-out of the buyer’s business checking account showing that they have the cash to purchase the subject property. “If the cash buyer you are talking to does not want to provide you with this, RUN,” Cohen says. “And if you see a vague document saying something along the lines of ‘XYZ123 Home Buyers are approved up to $XXX,000,’ RUN. The serious, professional, reliable home buyers will gladly show you legitimate proof of funds.”
