Is Selling Your Home For Cash To A House Buyer A Safe Option?

August 29, 2022

In the current real estate market cycle, sale agreements on homes are becoming increasingly fragile. Even though a contract may be signed, many buyers are pulling out within the waiting period, and some are even pulling out after that.

By HomeLight

However, a cash home buyer offers you a safer and more straightforward way to sell your house.

In this article we will outline some of the key benefits of selling your home for cash, and why you should consider this a viable way to sell your property.

No Finance Clause

As the name suggests, when you are dealing with cash house buyers, you are dealing with an individual or a company that has the cash available to buy your house outright.

This means they have no need to get involved with a bank, and to apply for finance, to assist with the purchase of your home. If you're thinking, "What if I sell my house for cash?" there are a lot of things to think about.

Given that many house sale agreements fall through due to the buyer not being able to obtain the financing required to complete the transaction, the fact that a cash home buyer has no need to get involved with the banks removes a significant amount of risk, that often accompanies a real estate deal.

No Transaction Chain

Many real estate contracts are signed with a clause stating that the purchaser first needs to try and sell their own home in an agreed period of time before buying yours. Sometimes there is a chain of such transactions up 5, 6 and even 10 house sale transactions long.

This means that are 10 separate households, with 10 separate situations, and 10 separate families that are all trying to make a certain transaction complete before they can complete the subsequent transaction.

This adds multiple points of potential failure to your real estate transaction.

Whereas, when you are dealing with a cash home buyer they are the only party you deal with and they are making you an offer that they are guaranteed to be able to pay you. The only question is whether you are happy with the offer they make, and how soon you want to settle.

Speed of Transaction

Because cash purchasers do not need to wait for lender approval before closing on the deal, the transactions tend to be a lot quicker.

In a cash home sale transaction, you as the seller, often end up being the cause of the delay instead of the purchaser trying to obtain finance which is the most common cause of delay. Because companies that buy houses are cash purchasers, they do not need to wait for lender approval.

Cash home buyers are known to have settled transactions within a day of inspecting a property and making an offer.

No Appraisal Required

Another benefit of a cash home buyer is that no appraisal is required to make an evaluation of the property’s worth.

The main reason for property valuations is to assist the bank or lending institution in their decision as to whether the amount of money you are wanting to borrow to purchase the property is a good investment or a risk.

Because a cash home buyer, is purchasing the home with cash, they have no need for a formal evaluation, as they rely on their own evaluation. Cash buyers are known to visit your property themselves or have an agent of their company visit your property to determine their own evaluation, and their offer will be contingent upon the evaluation they make. Not the appraisal of a bank.

No Fixing Required

In a standard home sale process, the owner usually spends hundreds of hours and thousands of dollars doing lots of jobs around the house to maximize the saleability of the home. This could be intense renovations, all the way through to minor cosmetic improvements, all done with the hope that it entices a potential buyer to sign a contract of purchase, in a timely manner and at an evaluation that they find acceptable.

When dealing with a cash home buyer, there is not necessarily the need to complete this work, and spend this money.

Cash home buyers are usually happy to consider the purchase of property as it is, without the need for further work to be done.

If you do consider dealing with the cash house buyer on your house, and it does need lots of improvements, it will likely mean that the offer they are willing to make for your property is less than the amount of money you had hoped to sell it for.

But if you consider the hours you were planning to spend and the dollars you are planning to spend to make those improvements in the hope of attracting a buyer, it may be an appropriate trade-off to just sell it as is and save the time and money you're planning to spend.

Final Thoughts

In some cases, the offer made to you by a cash home buyer may be lower than you are hoping or expecting to get your property.

But when you consider the risks that are eliminated by dealing with the cash house buyer, and how much simpler the transaction is, there are many reasons and many scenarios in which cash home buyers are a valid and safe way to sell your property.


I believe in making the impossible possible because there’s no fun in giving up. Travel, design, fashion and current trends in the field of industrial construction are topics that I enjoy writing about.

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