Purchasing a Home and All Cash Offers

How long does it typically take to close on a home doing an all cash deal? Once the contract is signed, what items need to be completed that would take time to do? Like a title search, etc.

Purchasing a Home and All Cash Offers

I was told it could be a matter of 2-3 weeks for paperwork in an all cash deal. The buyer before was all cash but it fell through so we lucked out.

Purchasing a Home and All Cash Offers

Hmm just wondering how quickly all cash offers typically move. Wasn't sure if it could be done within a week. Thanks!

Re: Purchasing a Home and All Cash Offers

From what I understand, and I could be wrong, even if you pay all cash, you can't just bring money to a closing you have to verify funds. So I guess that depends how long a bank takes to look at that.

Re: Purchasing a Home and All Cash Offers

The listing agent/seller would verify proof of funds on a cash deal before the seller accepts the offer and definitely prior to going to contract. It usually is just a letter from the buyer's bank saying x person has x amount of money in accounts, and the listing agent or seller can call the bank to verify the accuracy of the letter. So that would not hold up the timeline.

After contract, the only thing that would really have to be done is the running of the title report by the buyer's attorney. Assuming the buyer wants homeowner's insurance, he may need an appraisal (or may want one anyway).

But not much needs to be done and an all cash deal could conceivably close within two weeks of going to contract if the house was vacant or the seller could leave quickly.