Top Tips for Connecting With Cash Home Buyers in Fort Lauderdale

Inside the Fort Lauderdale cash home buyers market

Fort Lauderdale’s cash home-buying market is largely driven by real estate investors, but other groups may be willing to buy your home mortgage-free. Let’s take a closer look at these cash buyers and what motivates them.

Snowbirds

Fort Lauderdale is a popular destination for snowbirds — retirees who migrate to Florida during the winter months to escape colder climates. Many of these part-timers come from northern parts of the United States, Canada, and Europe.

Snowbirds, particularly international ones, often prefer to purchase homes with cash to avoid the complexities of obtaining a U.S. mortgage. Nearly two-thirds of international buyers in Florida purchased properties in cash last year, led by Canadians (81%), Columbians (57%), and Brazilians (55%).

The Miami-Fort Lauderdale-West Palm Beach metro area was the top spot for foreign buyers in Florida, attracting nearly half (47%) of the state’s international purchasers in 2023. Snowbirds are typically looking for a second home or a retirement residence, making them a significant segment of the cash home buyers market in Fort Lauderdale.

Baby Boomers

According to an analysis of U.S. Census data by Construction Coverage, 38.9% of homeowners in the Miami-Fort Lauderdale-West Palm Beach metropolitan statistical area (MSA) are part of the Baby Boomer generation. With cash built up from home equity or long-term savings, these mature buyers are increasingly paying for their homes without mortgages.

Nationwide, 51% of Older Boomers (born 1946–1954) paid all cash for home purchases they made in 2023, as did 32% of Younger Boomers (born 1955–1964). If your Fort Lauderdale house has accessible features that appeal to the Baby Boomer generation, such as a first-floor primary suite, low-maintenance outdoor space, or a curbless shower, highlight them in your listing description to grab the attention of older buyers who may be willing to pay cash.

Property investors

While cash sales are becoming more common for traditional buyers nationwide, homeowners are still more likely to find success selling to property investors. Common types of investors include institutional buyers, house flippers, buy-and-hold investors, wholesale investors, and iBuyers.

A 2023 Realtor.com report found that investors were responsible for 16.5% of home sales in the Miami-Fort Lauderdale-Pompano Beach MSA. This represents the eighth-highest proportion of investor purchases among all U.S. metropolitan areas.

These investors are often looking for properties they can renovate and resell quickly, rent out for steady income, or add to their investment portfolios. Compared to traditional buyers, selling to a property investor with cash on hand may result in a faster and more straightforward transaction.

Pros of working with a Fort Lauderdale cash home buyer

Cash offers can be a compelling choice for Fort Lauderdale homeowners looking for a fast and straightforward sales process. Let’s explore some of the main benefits of working with a cash home buyer:

How to request a cash offer in Fort Lauderdale

If you’re looking for an easier way to get a cash offer for your home, HomeLight’s Simple Sale platform can help. It connects you with the largest network of vetted and pre-approved investors across the U.S. By answering a few straightforward questions about your property, you can receive a no-obligation, all-cash offer within 24 hours. If you accept the offer, the sale can close in as little as 10 days. This process allows you to avoid repairs, prep work, and multiple showings, and you can choose a move-out date that fits your schedule — up to 30 days post-closing.

It’s important to note that cash buyers generally offer less than what you might get if you sold on the open market with a real estate agent. However, traditional sales come with fees that can take away 9% to 10% of your sale price. Depending on your circumstances, selling to a cash buyer could still be financially beneficial.

How much are Fort Lauderdale cash home buyers willing to pay?

In exchange for speed and convenience, sellers often receive offers that are below market value from cash home buyers. A common guideline in house flipping is the 70% rule, which means investors will offer around 70% of your home’s after-repair value minus any repair costs.

The competitiveness of the Fort Lauderdale market can influence cash offers. For example, when the market is hot, cash offers might be closer to market value as buyers compete for properties. In a slower market, cash offers are typically lower, reflecting the increased risk for investors.

What’s the process of selling to a Fort Lauderdale cash home buyer?

If you’re looking for speed and simplicity, a cash home sale may be the best option for you. Here’s a breakdown of how the process generally works:

Complete the Florida Seller’s Property Disclosure Form

When selling a home in Florida, you must disclose any known material defects that could impact the property’s value. The required document is called the Florida Seller’s Property Disclosure Form. This form includes details about the condition of various aspects of the home, such as the roof, plumbing, and electrical systems.

If you’re working with a Fort Lauderdale “We Buy Houses” company, they will likely handle all necessary documents, including this disclosure form. However, completing ahead of time can help speed up the paperwork process. These companies do their own inspections and purchase homes in any condition, so the disclosure is more of a legal requirement than a potential dealbreaker.

The buyer runs a title search on the property

A key step in the cash sale process is the title search. The buyer will verify that the property’s title is clear and that there are no liens or claims that could disrupt the sale. Title issues can include boundary disputes, unknown easements, undisclosed heirs, errors in public records, and even forgery.

The seller pays any associated fees

While a cash sale generally involves fewer closing costs, there are still some fees the seller may need to cover. These can include transfer taxes, title insurance, escrow fees, and attorney fees.

In Florida, the transfer tax, known as the Documentary Stamp Tax, costs $0.70 per $100 of the home’s sale price. If the community your property is located in has an HOA, you may also be required to pay an estoppel certificate fee. If you’re looking to avoid these fees altogether, some “We Buy Houses” companies offer to cover 100% of the seller’s closing costs in exchange for a lower sale price.

Deciding to sell to Fort Lauderdale cash home buyers

Homeowners have a solid chance of selling for cash, as Fort Lauderdale remains a sought-after location for real estate investors. Whether you choose to compare buyers on your own, work with a real estate agent, or request an offer through Simple Sale, HomeLight can connect you with top professionals and essential resources. We’re dedicated to helping you streamline your selling experience, making the most of Fort Lauderdale’s investor-friendly market to provide a quick and efficient solution for your home sale needs.

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