How to Find Cash Home Buyers in Virginia for a Hassle-Free Home Sale
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Joseph Gordon EditorJoseph Gordon is an Editor with HomeLight. He has several years of experience reporting on the commercial real estate and insurance industries.
If you’re a homeowner in Virginia looking to sell quickly and avoid the usual listing hurdles, a cash home buyer could be a god option. Virginia’s housing market is cooling, with homes taking longer to sell. 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 Virginia cash home buyers and walk you through the entire cash sale process, step-by-step.
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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 Virginia
If you’re ready to sell your Virginia home quickly, cash buyers could be the solution. Here’s how to connect with reputable cash buyers who can offer a fast, straightforward sale.
Work with a reputable local real estate agent
Even for a cash sale, a real estate agent can simplify the process by connecting you with trusted buyers. Agents often know local investors interested in cash purchases, saving you time and effort in finding credible options. If you don’t have an agent in mind, HomeLight can connect you with top agents who can recommend reliable buyers and help you assess fair offers.
Focus on investors rather than owner-occupiers
In Virginia, many cash buyers are investors or institutions. To attract these buyers, consider listing your property on investment sites or exploring local real estate events. You can also search for “We Buy Houses for Cash” companies; just remember that most house flippers follow the 70% rule, which might mean a slightly lower offer for a quicker sale.
Do your due diligence
Always research potential buyers to ensure they’re legitimate. Check resources like the Better Business Bureau (BBB) and review customer feedback on sites like Google, Yelp, and Trustpilot.
Before signing an offer, ask for proof of funds
Confirm that the buyer has readily available funds by asking for ‘proof of funds’—a bank statement or letter verifying cash reserves. If they’re unwilling to provide this, it’s a red flag, and you may want to look for a more reliable buyer.
Inside the Virginia cash home buyers market
Virginia’s cash home-buying market is primarily fueld by real estate investors, but there are other groups may be willing to buy your home for cold hard cash. Let’s take a closer look at these cash buyers and what motivates them.
New residents seeking affordable housing near D.C.
Virginia’s combination of affordable housing and proximity to Washington, D.C., makes it popular with professionals and families seeking an easy commute and a lower cost of living. Many new residents are moving into Virginia’s suburban areas with cash, choosing to purchase outright to avoid the hassle of mortgage applications.
Baby Boomers
Nationwide, cash purchases among Baby Boomers have increased significantly, with 33% of U.S. home sales involving all-cash payments in early 2024, according to the Realtors® Confidence Index Survey. Many Older Boomers (born 1946–1954) are choosing to buy mortgage-free using proceeds from previous home sales. Highlighting features in your listing description that appeal to older buyers—such as single-level living, low-maintenance landscaping, or accessible features—can help attract cash-ready Boomers looking for a hassle-free purchase.
Property investors
Virginia’s real estate market is appealing to various real estate investors, including institutional investors, house flippers, and buy-and-hold landlords. Investors bring a significant cash flow to the market, with many willing to buy properties as-is for rental or resale purposes. By selling to an investor, you can often secure a faster transaction, particularly if your property fits the criteria for resale or rental in Virginia’s diverse housing market.
Pros of working with a Virginia cash home buyer
Cash offers can be an attractive option for Virginia homeowners seeking an efficient and streamlined sales process. Let’s explore the key benefits of working with a cash home buyer:
- Quick closings: Selling to a cash buyer often means you can close the deal much faster than through traditional financing, often within days or weeks. This is because there’s no waiting for the buyer to secure a mortgage, which can significantly speed up the timeline.
- No contingencies: Cash sales typically come with fewer contingencies, if any. This means the sale is less likely to fall through due to financing issues or other common contingencies like home inspections.
- As-is purchase: Cash buyers often purchase homes as-is, meaning you won’t need to spend money or time on repairs or upgrades before the sale. This can be particularly advantageous if your home needs significant work.
- Simplified process: The process of selling to a cash buyer is generally more straightforward and involves less paperwork than selling through traditional means.
How to request a cash offer in Virginia
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. So, depending on your needs, a cash buyer could still save you money in the long run.
How much are Virginia 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 Virginia housing market isn’t very competitive at the moment; home sales are down year-over-year, and prices are 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 Virginia 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 a property disclosure statement
Most states have mandated disclosure laws and require you to fill out a form detailing any material defects in the home. Virginia, however, is a “caveat emptor” or “buyer beware” state, meaning sellers aren’t required to fill out a form detailing information about the property.
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 compared to traditional sales, you may still incur some closing costs, like transfer taxes, title insurance, escrow fees, and attorney fees. For example, Virginia sellers typically pay the State Recordation Tax (aka transfer tax) at a rate of $0.25 per $100 on the purchase price of the property.
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 Virginia cash home buyers
Homeowners have a good chance of selling for cash, as Virginia 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 Virginia’s investor-rich market to find a fast and efficient solution for your home sale needs.
Header Image Source: (STEPHEN POORE / Unsplash)
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