Direct answer
Direct answer
After a cash purchase agreement is signed, the closing company verifies title, identifies liens and mortgage payoffs, prepares the settlement figures and deed, collects signatures and funds, and records the transfer. Cash removes lender underwriting, but it does not remove title work, written documents, or the need to review the final numbers.
Key takeaways
- A signed contract should state price, deposit, closing date, costs, inspection rights, included items, and possession.
- The title company confirms ownership and resolves mortgages, taxes, liens, and document requirements.
- Sellers should verify wire instructions independently and review every final figure before signing.
- Possession, keys, remaining belongings, and any post-closing occupancy must be written down.
1. The buyer and seller sign a written purchase agreement
The contract controls the transaction. It should identify the property, purchase price, deposit, closing date, allocation of closing costs, inspection and cancellation rights, personal property, assignment rights, and when the seller will deliver possession.
Do not rely on text messages or verbal promises for a material term. If the buyer says the sale is as-is, direct, nonassignable, or flexible on move-out, make sure the contract says so.
2. The closing company completes title and payoff work
The title or closing company confirms legal ownership and checks for mortgages, taxes, liens, judgments, association balances, probate requirements, and other items that may affect transfer. The company also requests payoff figures and prepares the documents needed to deliver clear title under the contract.
A mortgage payoff is not always the same as the balance shown on the last statement. The CFPB notes that the payoff can include interest and other amounts through the date the loan is satisfied.
3. Review the settlement figures and transfer documents
Before signing, confirm the sale price, payoff, taxes, credits, closing charges, and expected proceeds. Ask questions about any number that differs from the contract or earlier estimate. The deed and affidavits should use the correct names and property information.
The CFPB's consumer closing resources emphasize reviewing documents in advance and independently verifying last-minute wiring changes because closing scams can imitate a title company or settlement agent. Although some CFPB forms apply specifically to financed purchases, the same document-review and wire-verification habits are useful to cash sellers.
4. Sign, fund, record, and deliver possession
The buyer sends verified funds to the closing company, required parties sign, and the closing agent confirms that conditions are satisfied. The deed is recorded, existing payoffs and approved charges are disbursed, and the seller receives the remaining proceeds according to the closing instructions.
Keys and possession normally transfer as the contract states. If the seller will remain after closing, the length, payment or deposit, insurance responsibilities, utilities, and move-out condition should be covered by a separate written occupancy agreement.
Questions sellers ask
Frequently asked questions
Does a cash sale still need a title company?
A cash sale still needs reliable title, document, funds, and recording work. The contract determines who selects and pays the closing provider, but removing a lender does not remove the transfer process.
How fast can a Florida cash home sale close?
Timing depends on clear title, payoff and lien responses, probate or ownership issues, the parties' availability, and the agreed date. Cash avoids lender underwriting, but no responsible buyer should promise a date before those conditions are understood.
When does the seller receive the money?
The closing company disburses proceeds after the transaction's funding, signing, and recording requirements are satisfied. Confirm the method and timing with the closing company before signing.
Primary sources
These first-party resources support the legal, regulatory, or closing-process facts above. They do not replace advice for your transaction.