Real estate cash buyers are investors that purchase properties using all cash payments. Usually closing quickly and painlessly than conventional mortgage-financed sales transactions, these investors can save home sellers and real estate agents considerable headaches in closing transactions quickly and hassle free. It is vitally important that potential cash buyers are thoroughly investigated to avoid becoming victims of real estate scams.

New Yorkers often need to sell their homes quickly for various reasons; whether facing foreclosure, managing estate properties, or just needing to move quickly. While traditional methods of home selling–open houses, financing contingencies, and long closing processes–can be frustratingly slow in this fast-paced market, there are ways around these issues by selling directly to local cash buyers in just days.

First step to finding local cash buyers: form relationships with real estate agents who specialize in real estate investment. They can provide you with a list of cash buyers in your area and assist in screening them to make sure they’re trustworthy. Or join local Real Estate Investing Associations (REIAs), where you will meet a wide variety of people ranging from hard money lenders and wholesalers through to rehabbers who possess all of the resources and knowhow to buy your properties quickly.

Once you’ve identified a potential buyer, be sure to request proof of funds and sufficient earnest money as evidence that they are committed to purchasing your property. This will confirm they can cover purchase price, closing costs and any other fees involved with selling a house or condo. Also ask about timelines – this will allow you to assess their offer against competition while speeding up the closing process.

At another key step in the home-buying process is obtaining a property appraisal, which typically takes 1-5 days and may be required when working with lenders; however, cash buyers often forego this step altogether and some investors may even skip it entirely.

Another two factors that can derail a deal are title work and homeowners insurance. At this stage, the buyer will order a title report to check for any liens against their property while also buying home owners insurance to protect themselves upon closing day.

Cash buyers can help speed up the home-buying and selling processes by forgoing some pre-sale steps such as title and escrow. Furthermore, their lack of loan dependence means they’re much less likely to back out than traditional buyers; this allows more competitive pricing as well as faster closing times on properties sold in this manner. Quick cash sales may pose risks: buyers might discover issues during property inspection or appraisal that require costly repairs before the deal can close successfully; therefore it is always recommended to seek reputable investors that will commit fully.