We started the Flyhomes Cash Offers program—in which we buy homes in cash on behalf of our clients—after many clients lost out on homes they loved because they were making financed offers against cash buyers in competitive markets.
In the year since launching the program, we’ve made more than 150 cash offers. While the original idea was to enable clients to compete in multiple-offer situations, we’ve found cash offers to be an advantage for both buyers and sellers even when there are no other offers on the table.
3 ways cash offers benefit buyers
Cash offers bring certainty, speed, and simplicity that traditional offers don’t—so sellers often accept cash offers over higher financed offers. In a competitive situation, this certainty can help you win.
Because Flyhomes will buy and hold the home for you (usually for about 30 days), you can act fast to offer on the home you want and still take your time to finalize your financing.
You’ll be pre-underwritten for a loan before we make a cash offer on your behalf. This experience will give you an exact budget to count on.
3 reasons sellers love cash offers
Cash offers come with a certainty financed offers don’t. Instead of relying on mortgage pre-approval, they rely on existing funds that are ready to give to the seller.
Skipping the step of finalizing a mortgage means the sale is faster. While financed offers typically need 2-4 weeks to close, cash offers can close in as few as 2 days.
When we make a cash offer, it’s a clean, easy-to-accept offer with no contingencies for financing, inspection, or appraisal.
How does it work?
A Flyhomes Cash Offer works a little differently than a traditional home purchase. As your real estate agency, we’ll help you through each step.
1 – Unlock your cash buying potential
Before looking for a home, you’ll discover your exact budget by getting pre-underwritten to understand how much financing you qualify for from the lender of your choice. You’ll also gather earnest money.
2 – Shop + win your home
We’ll find your new home together, do a pre-offer inspection, and strategize your offer to make sure you have the highest likelihood of getting it for the best price. Our cash offer will give the seller the benefits of a quick closing and the removal of contingencies.
3 – Move in early
Once the cash offer is accepted and we close with the seller, you can move into the home right away, weeks sooner than is possible with a traditional financed offer. During this time, you’ll finalize your financing with your lender.
4 – Close with your lender
As soon as you and your lender are squared away, we close on a second transaction to transfer ownership of the home to you for the same price we paid in cash up front. You’re now the official owner of the home—congratulations!
Want to learn more about Flyhomes Cash Offers?