How to Find Cash Home Buyers in Utah for a Hassle-Free Home Sale
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Joseph Gordon Associate EditorJoseph Gordon is an Associate Editor with HomeLight. He has seven years of experience reporting on the commercial real estate and insurance industries. He holds an MFA in Creative Writing from the University of San Francisco.
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.
If you’re a homeowner in Utah looking to sell your house quickly and without the usual stress, connecting with a cash buyer could be your best bet. Cash buyers are drawn to the Beehive State’s robust economy and appealing real estate market, which can make selling your home for cash easy.
However, Utah’s housing market has been on the downswing, with homes facing longer days on the market and the total number of home sales dropping. As such, selling on the open market might be tougher, whereas a cash sale may have a better chance of success.
This could be a good time to consider a cash home buyer, especially if you value speed and convenience. In this guide, we’ll explain how to find and sell to Utah cash home buyers and walk you through the entire cash sale process.
Sell Your House Fast in Utah With a Cash Offer
Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Receive your offer in 24 hours and close in as few as 10 days. No showings, no repairs, no open houses. Available to sellers throughout Utah.
Disclaimer: 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.
How to find cash home buyers in Utah
Looking to sell your home fast and easily? Cash buyers can be a great way to skip the traditional market and sell your home in a matter of days. Here are a few ways you can seek out trusted cash home buyers in Utah who may be willing to make a fair offer on your property.
Work with a reputable local real estate agent
- Agent connections: Real estate agents often have connections to cash buyers who may be interested in your home.
- Save time and effort: Using an agent-recommended cash buyer can save you the hassle of researching and vetting a long list of potential buyers.
- Expertise: Agents can provide valuable insights and support throughout the selling process.
- Find top agents: HomeLight can connect you with top agents in your area.
- Consider commissions: Be aware of real estate commissions, but the benefits may outweigh the costs.
Focus on investors rather than owner-occupiers
- Institutional buyers: Utah has a high share of institutional buyers, such as companies, corporations, and LLCs that buy houses for cash.
- Investment websites: Post your property on investment websites to attract cash buyers.
- Real estate events: Attend real estate investing events to network with potential cash buyers.
- Search online: Look for “We Buy Houses for Cash” companies in your area.
- Understand the 70% rule: House flippers often follow the 70% rule, offering around 70% of your home’s after-repair value, minus repair costs.
Do your due diligence
- Research companies: Verify the legitimacy of cash-for-homes companies.
- Use BBB: Check the Better Business Bureau to verify companies.
- Read reviews: Look for online reviews on Google, Yelp, Facebook, and Trustpilot.
- Check track records: Verify the company’s track record, licenses, and customer referrals.
Before signing an offer, ask for proof of funds
- Verify funds: Ensure the cash buyer has the necessary finances to purchase your home by asking for proof of funds.
- Red flags: If a cash buyer is unwilling to provide proof of funds, consider it a red flag and look for a more trustworthy company.
Inside the Utah cash home buyers market
Utah’s cash home-buying market is driven by various groups, including real estate investors and other cash-ready buyers. Let’s explore who these buyers are and what motivates them.
New residents
Utah attracts new residents with its strong job market, outdoor lifestyle, and relatively lower cost of living. Many of these new residents, often relocating from higher-cost areas, can purchase homes with cash, seeking quick and hassle-free transactions. Highlighting Utah’s vibrant cities and scenic areas can help attract these buyers.
Baby Boomers
In 2024, 33% of U.S. homebuyers used all-cash sales, the highest share in nearly a decade. Baby Boomers, especially, are often cash buyers. More than half of Older Boomers and 32% of Younger Boomers paid cash for homes in 2023. To attract these buyers, highlight features like a first-floor primary suite, low-maintenance outdoor space, or wide doorways in your listing description.
Property investors
Selling to real estate investors in Utah can be highly effective. Common investors include institutional buyers, house flippers, buy-and-hold investors, wholesale investors, and iBuyers. Utah’s strong rental market and growing population make it attractive to these investors, who often prefer quick transactions and are less concerned with minor repairs.
Pros of working with a Utah cash home buyer
For Utah homeowners, cash offers can provide a hassle-free and efficient selling experience. Here are the main advantages of choosing a cash home buyer:
Faster closing times
Cash sales often close much quicker than traditional sales because they skip the lengthy mortgage approval process. This can be a great advantage if you need to move quickly.
Fewer contingencies
Most cash buyers make offers without contingencies, meaning there are fewer conditions that could delay or derail the sale. This results in a smoother, more predictable transaction.
Sell as-is
Cash buyers typically purchase homes as-is, so you won’t need to worry about making repairs or upgrades. This saves you time and money.
Simplified paperwork
The process of selling to a cash buyer involves significantly less paperwork. This makes the transaction more straightforward and less stressful.
Lower risk of deal falling through
Without the need for financing, the risk of the sale falling through is much lower. This provides greater assurance that the transaction will be completed successfully.
How to request a cash offer in Utah
Q: How can I quickly secure a cash offer for my home in Utah?
A: HomeLight’s Simple Sale platform connects you with the largest network of vetted and pre-approved investors in the U.S. By using this platform, you can receive a no-obligation, all-cash offer within 24 hours after answering a few basic questions about your home.
Q: What are the steps involved in the Simple Sale process?
A: Once you receive your cash offer, you can close the sale in as few as 10 days. You’ll skip the repairs, prep work, and showings, and you can choose a move-out date that works for you — up to 30 days from closing.
Q: Are there any downsides to selling my home for cash?
A: Cash buyers usually offer less than what you might get on the open market. However, selling traditionally comes with fees that can consume up to 9% to 10% of your sale price. Depending on your needs, a cash sale could still save you money in the long run.
How much are Utah 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.
Cash home buyers often pay below market value in exchange for the speed and convenience they offer. A common guideline in the industry is the 70% rule, where house flippers pay around 70% of the home’s after-repair value, minus repair costs.
Utah’s housing market is currently slowing down and is not as competitive as it once was. This means cash offers are likely to be lower than market value. Additionally, the market may not experience the extended growth seen in other areas from aging Baby Boomers, as they are less likely to downsize in the state. In a slower market, cash offers provide the certainty of a quick sale, but they may not match the potential sale price of a traditional listing.
What’s the process of selling to a Utah 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 Utah Seller’s Property Condition Disclosure
If you’re looking for speed and simplicity, a cash home sale may suit you. Here’s a breakdown of how the process generally works:
Complete the Utah Seller’s Property Condition Disclosure
When selling your home in Utah, you must complete the Utah Seller’s Property Condition Disclosure form, which details any known issues with the property. This ensures transparency and protects both parties in the transaction.
If you’re working with a Utah “We Buy Houses” company, they will likely handle all necessary documents for you, including this one. However, you can expedite the process by filling it out ahead of time. These companies buy homes in any condition, so the disclosure is more of a legal requirement.
The buyer runs a title search on the property
The cash buyer will verify the property’s title to ensure you have legal ownership and check for any liens or claims that could hinder the sale. Common title issues include boundary disputes, unknown easements, undisclosed heirs, public record errors, and forgery.
The seller pays any associated fees
While a cash sale has fewer closing costs than a traditional sale, sellers may still need to cover expenses like title insurance, escrow fees, and attorney fees. Utah does not charge a transfer tax. If you want to avoid closing costs altogether, “We Buy Houses” companies often pay these fees in exchange for a lower offer.
Deciding to sell to Utah cash home buyers
Homeowners have a good chance of selling for cash, as Utah remains a popular state to invest in real estate. 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 Utah’s investor-rich market to find a fast and efficient solution for your home sale needs.
Header Image Source: (Michael Tuszynski / Unsplash)
