Understanding the Market for Cash Home Buyers in Jacksonville
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Kelsey Morrison Former HomeLight EditorClose
Kelsey Morrison Former HomeLight EditorKelsey Morrison worked as an editor for HomeLight's Resource Centers. She has seven years of editorial experience in the real estate and lifestyle spaces. She previously worked as a commerce editor for World of Good Brands (eHow.com and Cuteness.com) and as an associate editor for Livabl.com. Kelsey holds a bachelor’s degree in Journalism from Concordia University in Montreal, Quebec, and lives in a small mountain town in Southern California.
Jacksonville’s hot real estate market makes cash offers a strong possibility for homeowners. In February 2024, the city had the highest percentage of cash home sales among 40 of the most populous U.S. metropolitan areas. An eye-popping 54.4% of Jacksonville home purchases were all-cash deals, an eight percentage point increase over the same period last year.
If you’re a Jacksonville homeowner looking to sell your home quickly and without the usual hassle of listing on the open market, partnering with a cash buyer might be the best solution for you. In this guide, we’ll outline how to find reliable cash home buyers in Jacksonville, explain the benefits of selling for cash, and provide a step-by-step overview of the entire process.
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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 Jacksonville
Cash home buyers can be a convenient option for sellers on a short timeline, providing greater speed and reassurance that the deal will go through. Here’s how to find reputable cash home buyers in Jacksonville who might be interested in purchasing your property.
Work with a reputable local real estate agent
Even if you’re leaning toward a cash home sale, teaming up with a reputable local real estate agent can be highly beneficial. Agents often have a Rolodex of cash buyers who are actively looking to purchase homes in the area. You can leverage their network, saving you unknown hours of time and effort, to find credible and interested parties.
Additionally, a real estate agent can help you navigate the complexities of the home sale process, making sure that everything goes smoothly. If you don’t already have an agent in mind, HomeLight can connect you with top-peforming agents in Jacksonville. Keep in mind that while agents earn real estate commissions, their contacts and expertise can prove invaluable in securing a cash sale.
Focus on investors rather than owner-occupiers
Jacksonville has a significant share of institutional buyers — companies, corporations, and limited liability companies that purchase homes for cash, often to turn them into long-term rentals. In 2023, an analysis by the News4JAX I-TEAM found that institutional investors owned more than 9,600 single-family homes across Duval County, where Jacksonville is located.
To attract these types of buyers, consider posting your property on investment websites or attending local real estate investing events. You can also request no-obligation cash offers from “We Buy Houses” companies in Jacksonville. However, keep in mind that these companies are typically run by house flippers who follow the 70% rule, meaning they may offer 70% of the property’s after-repair value minus repair costs. Targeting investors can streamline the selling process and increase your chances of securing a cash offer.
Do your due diligence
It’s important to research and vet cash-for-homes companies to make sure they’re legitimate. Homeowners can use the Better Business Bureau (BBB) to verify the reputation of companies they are considering. You can also reach out to Jacksonville’s local chapter, BBB Serving Northeast Florida & The Southeast Atlantic.
Additionally, reading online reviews from websites like Google, Yelp, Facebook, and Trustpilot can provide insights into other sellers’ experiences. Corroborating the company’s track record, licenses, and customer referrals will help ensure that you’re working with a trustworthy buyer.
Before signing an offer, ask for proof of funds
Choosing a cash buyer with readily available funds is essential. Homeowners should ask the cash buyer for proof of funds, which is a document that verifies the buyer has the necessary cash available to complete the purchase. If a cash buyer is unwilling to provide proof of funds, this is a red flag, and you should consider working with a more trustworthy company instead.
Inside the Jacksonville cash home buyers market
Jacksonville’s real estate market sees cash buyers beyond just investors. Ahead, we’ll explore who else might be interested in buying your Murray Hill bungalow mortgage-free.
New residents
In 2023, Jacksonville ranked as the fourth fastest growing city in the United States in terms of population, according to
Many of Jacksonville’s newest residents — including retirees, professionals relocating for job opportunities, and families seeking a better quality of life — are looking to buy homes with cash. Doing so allows them to avoid high mortgage rates and gain an advantage over other potential buyers in Jacksonville’s competitive market.
Baby Boomers
An analysis by Construction Coverage, a review publication for the construction industry, found that Baby Boomers accounted for 38.3% of all homeowners in Jacksonville in 2022. With significant equity and long-term savings, this demographic is increasingly likely to purchase homes outright.
Across the country, 51% of Older Boomers (born 1946–1954) paid all cash for home purchases they made in 2023, as did 32% of Younger Boomers (born 1955–1964). If your Jacksonville house has features that appeal to the Baby Boomer generation, like a first-floor primary suite, low-maintenance outdoor space, or wide doorways and hallways, highlight them in the listing description to capture the attention of older buyers willing to pay cash.
Property investors
Homeowners in Jacksonville are more likely to find success selling to property investors rather than traditional buyers willing to pay in cash. Common types of property investors include institutional buyers, house flippers, buy-and-hold investors, wholesale investors, and iBuyers.
Jacksonville currently has one of the highest shares of real estate investor purchases in the country. In the first quarter of 2024, investors bought nearly a quarter (24.5%) of all the homes sold in the city. This activity is driven by Jacksonville’s strong rental market and opportunities for profitable flips. These investors are typically well-funded and able to make quick, all-cash offers — making them an attractive option for homeowners.
Pros of working with a Jacksonville cash home buyer
Cash offers, whether from investors or individuals, can lead to a faster, smoother home sale. Let’s explore the key benefits of working with cash home buyers in Jacksonville:
- Quick closings: Cash sales often close much faster than traditional sales because there’s no need to wait for mortgage approval. This can be particularly beneficial if you need to sell your home quickly due to relocation, financial issues, or other personal circumstances.
- No contingencies: Cash buyers typically purchase homes without contingencies, which means there’s less risk of the deal falling through.
- As-is purchase: Many cash buyers are willing to buy properties as-is, saving you the time and expense of making repairs or upgrades. This is ideal if your home needs significant work that you can’t or don’t want to address.
- Simplified process: Selling to a cash buyer generally involves less paperwork and fewer steps compared to a traditional home sale.
How to request a cash offer in Jacksonville
If you’re seeking a straightforward way to get a cash offer for your home, HomeLight’s Simple Sale platform might be the perfect solution. After providing a few details about your property, you’ll receive a no-obligation, all-cash offer within 24 hours. If you decide to accept the offer, you could close the deal in as few as 10 days. You can bypass repairs, avoid staging, and skip showings, all while choosing a move-out date that suits your schedule — up to 30 days from closing.
It’s important to understand that cash buyers usually offer less than what you might get by selling on the open market. However, selling traditionally involves various fees that can total around 9% to 10% of your sale price. So, depending on your specific needs and timeline, a cash sale through HomeLight’s Simple Sale platform could still be a cost-effective and convenient option.
How much are Jacksonville cash home buyers willing to pay?
In exchange for speed and convenience, cash home buyers often pay below market value. Many investors follow the 70% rule, which means they may offer 70% of the home’s after-repair value minus repair costs. This helps guarantee they’ll make a profit after reselling the property.
Jacksonville’s housing market is highly competitive, which can influence the cash offers you receive. When the market is hot, cash offers may be closer to market value due to the increased demand. In a slower market, cash offers tend to be lower as buyers account for potential resale risks. Understanding these dynamics can help you make an informed decision about whether a cash sale is the right choice for you.
What’s the process of selling to a Jacksonville cash home buyer?
Cash buyers offer a faster, smoother process compared to traditional financing. Here’s how it typically works:
Complete the Florida Seller’s Property Disclosure form
When selling your home in Florida, you are required to disclose certain information about the property’s condition. The mandated disclosure document in Florida is the Seller’s Property Disclosure form, which covers a range of issues including structural problems, water damage, and any past repairs. This transparency helps buyers make informed decisions and protects sellers from future legal disputes.
If you’re working with a Jacksonville “We Buy Houses” company, they will likely prepare all of the necessary documents for you, including this one. However, you can speed up the paperwork process by filling it out ahead of time. These companies conduct their own inspections and purchase homes in any condition, so filing the disclosure statement is more of a legal obligation from their perspective.
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. Common reasons for title issues include boundary disputes, unknown easements, undisclosed heirs, public record errors, and forgery.
The seller pays any associated fees
A cash sale generally has fewer closing costs than a traditional home sale. However, sellers may still need to pay some expenses, such as transfer taxes, title insurance, escrow fees, and attorney fees.
In Florida, the transfer tax — also known as the Documentary Stamp Tax — costs the seller $0.70 per $100 of the sale price. If you’re selling a home in a community with an HOA, you might also be on the hook for estoppel certificate fees, which can amount to a few hundred dollars. Want to avoid closing costs altogether? Many “We Buy Houses” companies cover these fees in exchange for an offer that’s below market value.
Deciding to sell to Jacksonville cash home buyers
Cash sales are a viable option for Jacksonville homeowners thanks to the city’s hot real estate investment market. Whether you opt to compare buyers yourself, partner with a real estate agent, or use the Simple Sale platform, HomeLight can connect you with top professionals and essential resources. Our goal is to help you simplify your selling process, taking advantage of Jacksonville’s active investor market to ensure a fast and efficient home sale.
Header Image Source: (Lance Asper/ Unsplash)
- "Cash Rules", National Association of REALTORS® (April 2023)
- "Baby Boomer-Dominant Housing Markets", Construction Coverage (January 2024)
- "Utah’s Tech Hub Powers America’s Hottest Job Market, WSJ Ranking Finds", The Wall Street Journal (April 2024)
- "Population Rebounds for Many Cities in Northeast and Midwest", U.S. Census Bureau (March 2024)
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