The Legalities of Selling Your Home for Cash

While a cash offer on your house or rental property sounds tempting, you might be left wondering if it is legal to do so. It is important to realize that there are differences between the processes of cash and financed buyers. If sold through legal means to a company that buys houses for cash or through a cash buyer, it is possible to legally sell your house for cash safely, securely, and with proper documentation. In this brief article, we answer the common question: “Can I sell my house for cash Tampa?”

Related: Advantages of Selling a Home for Cash


Conducting Title Searches

Ideally, you’ll know how to conduct title searches for local properties to be able to prove to the buyer that you own your home and there are no other parties that have ownership rights to it. You can only sell properties that you own. This is true for cash sales and buyers with conventional mortgages.


Using a State-Approved Purchase Contract

No matter what you do, make sure that you use a state-approved purchase contract so that the sale is binding. You’ll want to read the term and conditions to ensure that you understand what you will agree to by entering into the legal agreement. A simple notarized document passing on ownership rights will not be enough. 


Home Inspections

It is always a good idea to schedule a home inspection. Both the buyer and the seller are able to arrange this. It is smart to know what the buyer will get when they buy the house so that they cannot come back and say that the seller didn’t disclose the facts about the property. In some ways, this is an added bit of protection.

Related: 3 Excuses Why Homeowners Don’t Sell and Why They Should


Taxes and Transfer Fees

Even though the sale is cash, you will still be responsible for any applicable taxes and transfer fees. If you have any questions about this, you could work with a company that buys homes for cash, such as Ethical Home Buyers. We can answer any questions you may have.


Shorter Closing Times

Cash sales tend to have shorter closing times because there aren’t banks and mortgage lenders that need to get involved. This is often a benefit to sellers in cash deals. A shorter closing time doesn’t mean that something fishy is going on, so embrace it.

If you are looking to sell your house, a cash deal can be a good way to get access to capital quickly without having to wait for your home to sell. Fortunately, I buy houses in Tampa and can help you sell your home legally and quickly.

Need to sell your home fast? At Ethical Home Buyers, I buy houses in Tampa! For more information, submit our contact request form or give us a call at (813) 458-7355.

Disclaimer: This website is not a substitute for legal advice. If you have a serious legal, tax, or other issue requiring professional advice, please consult with an attorney or CPA.

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