An Expert’s Guide on The Cash Offer on House Process in Utah

What’s the point of paying cash for a home? It costs more upfront, and mortgage interest is considered tax-deductible. 

However, sellers prefer cash offers because they can close the sale faster. Offering cash can increase your chances of buying your dream home, and it can save you money in the long run.

Cash home buyers often pay less on closing costs than those who opt for the mortgage payment route, and they remove the hassle of closing for months. Also, you can save on interest payments and move into your new Utah home sooner. However, the cash offer process operates on a different timeline than a traditional home sale.

Cash Home Selling Process

Keep reading to learn more about the cash offer on house process, including the time frame, how it differs in Utah, contracts, inspections, escrows, documentation, and transfers. Whether you are in the cash home selling process or cash home buying process, this expert’s guide can benefit you on your journey.

How Long Do Cash Home Purchases Usually Take?

In general, the process of selling a house for cash lasts 1-2 weeks. The cash home buying process typically follows this schedule.

The cash buyer starts by making an offer that the seller accepts. Ordinarily, this step takes one day, unless you ask for a discount. Not all sellers will negotiate with you, but they may entertain the idea if they need to close soon. Making a cash deal can also encourage the previous owner to move out faster.

Once you make the offer, the seller verifies that you have enough money for the house by checking with the bank. Sellers usually request proof of funds and income from cash home buyers to ensure that they can afford the property. This process takes between one and two days, but you can facilitate it by providing your financial information with your offer.

For about one day, the escrow company holds your money as the cash sale occurs to ensure all conditions are met. Title and escrow services usually happen with one company due to their related functions. It will help if you find a title company and insurance beforehand to speed up the cash offer process.

The title search usually takes three days to complete as they view the house’s history to ensure no one is entitled to the property. Keep in mind that this step can take longer if the house has undergone foreclosure. As a buyer, you should consider purchasing title insurance so that you will not have to pay any outstanding debts on your property that are not yours.

You will need to get an inspection, which takes about a week to book and a few hours to finish. While you can waive an inspection, that is not recommended as there may be serious structural issues with the home that could deter you from buying it. Furthermore, inspectors can inform you of the repair and maintenance costs needed.

Appraisals may not be necessary for cash sales, but getting one can ensure you are paying a fair cash deal. This step varies drastically, from minutes to days. You may reconsider your offer once you read the home appraisal report, so we strongly recommend getting one done.

The final walkthrough with the real estate agent takes about one day to check that the previous owners moved out completely and that you can enter soon. Once you have guaranteed that the house is safe to move into, you can spend a couple of hours closing the deal and signing some paperwork.

The Cash Offer On House Process in Utah

The cash offer on house process UT is unique to a traditional sale because you do not need an appraisal, you can save time and money, you reduce risk with a stronger offer, you must show proof of funds, and you can buy any kind of house. 

While you will still need a real estate agent, get an inspection, and pay some fees, the cash home buying process UT makes an excellent choice for buyers and sellers.

Signing the Contract 

When selling a house for cash in Utah, you must accept the buyer’s offer and complete a Purchase and Sale Agreement contract. The cash buyer often makes a written offer letter with contract contingencies to ensure they get a fair deal. 

The contract will not have a financing contingency, but it may necessitate an appraisal or inspection contingency if the buyer wishes to check out the home before purchase.

The Home Inspection

If the buyer has requested an inspection, the house will need to undergo one to check for repairs. The contingency may request a deal renegotiation if the house requires extensive repairs, or that the seller fixes the property before finishing the process.

The buyer can also request an appraisal which could influence them to renegotiate the deal if they find that the Utah property costs more than its value. As a seller, make sure to price your home honestly to save yourself from convoluted cash purchases.

Escrow and Other Payment Processes

The first official payment process involves verifying proof of funds. Since the buyer intends to pay the full price to close the deal, you will need to make sure that they have this money. Checking with their bank and asking for upfront earnest money can get the job done. The real estate agent can help here.

As a buyer, you will want to include proof of funds with your offer letter to speed up the process of selling a house for cash in Utah.

In Utah, it is customary for the buyer to get title insurance to protect them against financial losses from misinformation. Either the buyer, seller, or real estate agent can choose the escrow and title company, though it is generally up to the buyer.

The escrow manages all closing documents, aids in fund transfer, and fills out legal paperwork. The title company ensures that the property can enter someone else’s name, searches for property liens and heirs, and makes sure that the property ownership changes upon closing.

The buyer will need to secure a check for the purchase. Despite the name, all-cash offers do not include an exchange of paper money as that is illegal in the United States. However, you will pay the full costs upon purchase through an electronic transfer or a cashier’s check.

Both buyers and sellers may need to pay for other fees and costs associated with closing, realtors, appraisals, inspections and other third parties involved in the sale. Make sure you have the necessary funding for this event.

If you opted to sell your house as-is or get an all-cash offer through a third-party like Cash Quick Buyers, you may need to complete other steps.

Closing Documentation and Transfers

There are a handful of closing documents you can expect to sign upon selling a home:

  • Final closing instructions
  • Loan payoff statement
  • HUD-1 settlement statement
  • Title deed
  • Certificate of title
  • Bill of sale
  • Mechanics liens
  • Statement of information
  • Statement of closing costs

Final closing instructions are usually signed when you open your escrow account, but you may do them at the end. This document outlines the tasks the escrow company completes. The loan payoff statement shows how much you owe your mortgage lender on closing day, which should equal how much the escrow company pays on your behalf.

The HUD-1 settlement statement accounts for all of the money involved, including all that has been negotiated, payoff balances, sales price, utility bills, and pro-rated tax. The title deed is the paper that officially transfers ownership, and signing the certificate of title means you have to sell your house.

A bill of sale outlines any additional items in the sale, such as furniture. The mechanics liens ensure you have no additional liens on the house. The statements of information and closing costs make you swear your identity is true and that you know all closing costs beforehand.

Documents You’ll Need to Sell the House

If you want to sell your house for cash UT, you will need to fill out an extensive amount of documents.

Before you list, make sure to gather and complete an original sales contract, home repair records, homeowners insurance records, HOA documents, improvement receipts, warranties, manuals, professional appraisal reports, mortgage statements, and past utility bills.

Documents You'll Need to Sell the House

The documents needed to sell a house for cash include a comparative market analysis, listing agreement, proposed marketing plan, and a seller’s net sheet. You will need to work on these with a realtor to begin the selling process.

Once your house enters the market, the documents for selling a house for cash include a preliminary title report, a pre-inspection report, and mandatory disclosures.

Other documents you’ll need to sell a house for cash between contract and closing include an updated appraisal and home inspection report if the buyer requests these contingencies.

At closing, you will need to fill out a 1099-S tax form, a title deed, get your most recent tax statement, and the closing statement.

Try to work with a real estate agent to ensure all of these forms are filled out properly with the correct information. Any mistakes could drag on the selling process for much longer than necessary.


The cash offer on house process in Utah does not differ from other states, apart from the customary title insurance. Nonetheless, the laws do not require any special contracts to complete the sale.

Whether you are looking to buy or sell, understanding an all-cash offer can help you close faster and save money. You can get your new home more easily, and you can move out of your old one in a couple of weeks rather than months.

At Cash Quick Buyers, you can readily buy or sell a home for cash in Salt Lake City, Layton, Logan, and other Utah cities.

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