Selling to Florida Cash Homebuyers: Tips from Experts

How to request a cash offer in Florida

Not sure how to find a cash buyer in Florida? If you’re looking for a fast, easy home sale, we’d recommend our Simple Sale platform, which has nationwide coverage (including for the state of Florida). Through Simple Sale, HomeLight provides you with an all-cash offer for your home.

You can skip the repairs, prep work, and open houses and go straight to receiving an offer. Whether you’re moving into a waterfront one-bedroom for your retirement days or escaping the humidity with a transfer to the desert, a cash offer through Simple Sale can help you sell your home in a matter of days, not months.

Going in, you should know that cash buyers tend to offer a lower price than buyers on the open market. However, selling the traditional way costs 9% to 10% of your home’s sale price, so going the cash route may be worth it in the end.

How much are Florida cash homebuyers willing to pay?

Generally speaking, cash investors and home-buying companies are looking to get properties at below-market prices, with sellers trading the extra equity in exchange for a quick closing and added flexibility. House flippers tend to stick to the 70% rule, which states that they should pay no more than 70% of the property’s after-repair value (AVR), including any costs for repairs and upgrades. In Florida’s competitive cash-buying market, sellers may find that buyers are willing to pay more for properties.

Florida cash buyers: Inching closer to fair market value?

For houses that are in premium areas and are move-in ready, Niakan doesn’t see much of a discount in the offers he fields from cash buyers. “If there is a discount, it’s usually a case where the property is distressed and the seller needs to close quickly, but that’s the exception rather than the rule,” he explains.

In one recent example, Niakan listed a property at $579,000, with not much inventory available at that quality level and price point. He received two offers within one day: one was a cash offer, and one was contingent on financing. There was only a $10,000 difference between the two.

Hot market pushes offers higher

Cohen agrees that in his market, the 70% AVR rule has risen along with the spike in housing demand. He has seen off-market buyers willing to pay 80% to 85% of the ARV without even seeing the property.

“Part of the logic behind that is that by the time the renovation is completed, these investors are speculating that the housing market will continue to rise, and they will make up for what they ‘overpaid,’” he says.

In addition to being willing to offer a more competitive price, Nepola sees many Florida cash buyers accepting seller-added contingencies that might not fly in a less aggressive market. “The most common contingency I am seeing is the waiving of appraisals and very short inspection periods,” he says. Today’s cash buyers are willing to purchase as-is with little to no repairs done by the seller.”