How to Find Cash Home Buyers in Knoxville for a Hassle-Free Home Sale

Inside the Knoxville cash home buyers market

Real estate investors are the biggest part of Knoxville’s cash home-buying market, 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.

Knoxville’s cash home-buying market is largely driven by real estate investors, but other groups also make mortgage-free purchases. Let’s take a closer look at who these buyers are and what motivates them.

• New residents: Knoxville’s growing population includes individuals and families moving from out of state who may use cash to compete in a competitive market.
• Baby Boomers: In February 2024, 33% of U.S. home purchases were all-cash, the highest in nearly a decade. Boomers are driving this trend—more than half of older Boomers paid in cash, as did 53% of the Silent Generation and 32% of younger Boomers.
• Property investors: Institutional buyers, house flippers, and buy-and-hold investors seek properties they can renovate or rent for long-term gains.
• iBuyers: These tech-driven buyers typically pay closer to market value than traditional investors but charge service fees and are selective about the homes they purchase. They offer sellers a fast, convenient alternative.

Pros of working with a Knoxville cash home buyer

Cash offers can be attractive for Knoxville homeowners seeking an efficient and streamlined sales process. Let’s explore the key benefits of working with a cash home buyer:

How to request a cash offer in Knoxville

If you’re looking for an easier way to secure a cash offer for your home, HomeLight’s Simple Sale platform can connect you with the largest network of vetted and pre-approved investors in the U.S.

After answering a few basic questions about your home, you’ll receive a no-obligation, all-cash offer within 24 hours. If you accept the offer, you can close the sale in as few as 10 days. You can skip the repairs, prep work, and endless showings, and choose a move-out date that works for you — up to 30 days from closing.

Cash buyers usually offer less than what you might get on the open market, but selling the traditional way comes with fees that can eat up 9% to 10% of your sale price. Depending on your needs, a cash buyer could still save you money in the long run.

How much are Knoxville cash home buyers willing to pay?

Cash investors and home-buying companies often look for deals where they can buy properties for less than what they’re worth on the market. In return, sellers get the benefit of selling their homes quickly and with less hassle. House flippers usually follow the 70% rule, meaning they try not to pay more than 70% of a home’s after-repair value (ARV), including repair and upgrade costs.

The Tennessee housing market is in a tough spot; home prices and sales are down year-over-year, while inventory is on the rise. Given the current conditions, offers from house-buying companies might be lower than what you could get on the open market.

During periods with high demand and low inventory (seller’s markets), cash buyers often come closer to a home’s market value. Offers in this scenario range from 80% to 85% of the ARV of the property.

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

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

Complete the Tennessee Residential Property Condition Disclosure

Most states have mandated disclosure laws and require you to fill out a form detailing any material defects in the home. In Tennessee, sellers are required to disclose any defects before accepting an offer by completing the Residential Property Condition Disclosure.

If you’re working with a Knoxville “We Buy Houses” company, they will likely prepare all of the necessary documents for you, including this one. However, you can speed up the process by filling it out ahead of time. These companies conduct their own inspections and purchase homes in any condition, so filing the disclosure statement is more of a legal obligation from their perspective.

The buyer runs a title search on the property

The cash buyer will also verify the property’s title. This ensures you have legal ownership and checks for any liens or claims that could prevent a smooth sale. Some of the most common reasons for title issues include boundary disputes, unknown easements, undisclosed heirs, public record errors, and forgery.

The seller pays any associated fees

While cash sales typically involve fewer fees than traditional sales, you may still incur some closing costs, like transfer taxes, title insurance, escrow, and attorney fees. For example, Tennessee sellers typically pay the Documentary Stamp Tax (aka transfer tax) at a rate of $0.37 per $100 on the property’s purchase price.

If you’re looking to avoid closing costs altogether, “We Buy Houses” companies will often pay them for you in exchange for an offer that’s below market value.

Deciding to sell to Knoxville cash home buyers

Homeowners have a good chance of selling for cash, as Tennessee remains a popular state to invest in real estate, just outside of being one the top 25 states to invest in nationwide, falling in at 28.

Whether you decide to compare buyers yourself, enlist the help of a real estate agent, or request an offer from Simple Sale, HomeLight can connect you with top professionals and valuable resources. We’re here to help you streamline your selling experience, leveraging Knoxville’s investor-rich market to find a fast and efficient solution for your home sale needs.

Editor’s note: As a friendly reminder, this blog post is meant to be used for educational purposes, not legal or tax advice. HomeLight always encourages you to reach out to your own advisor.

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