How to Find Cash Home Buyers in Oklahoma City for a Hassle-Free Home Sale

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If you’re a homeowner in Oklahoma City looking to sell your house fast, connecting with a cash buyer might be your best option. Oklahoma City’s real estate market attracts many cash buyers, primarily due to its abundance of property, strong growth potential, and affordability.

Choosing a cash buyer can make selling your home a snap, offering a quick and hassle-free transaction. This guide will show you how to find and sell to cash home buyers in Oklahoma City, what the process looks like, and give you an idea of who might purchase your home for cash.

Sell Your House Fast in Oklahoma City With an All-Cash Offer

Get an all-cash, no-obligation offer on your Oklahoma City home through HomeLight’s Simple Sale platform whenever you’re ready. Receive your offer in 24 hours and close in as few as 10 days. No showings, no repairs, no open houses.

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 Oklahoma City

Looking to sell your home fast and easily? Cash buyers can be a great option. Here are a few ways you can seek out trusted cash home buyers in Oklahoma City who may be willing to make a fair offer on your property.

Partner with a knowledgeable local real estate agent

Working with a real estate agent, even for a cash sale, can be advantageous. Agents often have connections to cash buyers, saving you the effort of vetting multiple prospects. They can also guide you through the process, ensuring you get a fair deal. If you don’t have an agent in mind, HomeLight can connect you with top local agents. Though agents charge real estate commissions, their expertise can make the investment worthwhile.

Conduct thorough research

It’s essential to vet cash-for-homes companies to ensure they are reputable. Use the Better Business Bureau to verify companies and read reviews on Google, Yelp, Facebook, and Trustpilot. Checking their track record, licenses, and customer referrals will help you avoid scams and make an informed decision.

Request proof of funds before finalizing a deal

Ensuring your cash buyer has readily available funds is crucial. Ask for proof of funds, which is a document confirming they have the necessary cash for the purchase. If a buyer hesitates to provide this, consider it a warning sign and look for a more reliable option.

Focus on investors rather than owner-occupiers

In years past, Oklahoma has ranked among the states with the highest share of institutional buyers, accounting for 18% of all home sales, according to the National Association of Realtors. Institutional buyers include companies, corporations, and limited liability companies (LLCs) that seek to purchase single-family homes to turn into rentals.

Of course, you can always search online for “We Buy Houses for Cash” companies in Oklahoma City, but note that house flippers tend to pay around 70% of a home’s market value to turn a profit.

Inside the Oklahoma City cash home buyers market

Oklahoma City’s cash home-buying market is largely driven by real estate investors, but other groups may be willing to buy your bungalow mortgage-free. Let’s take a closer look at these cash buyers and what motivates them.

  • New residents seeking affordability
    • Attracted by lower living costs and a friendly community
    • Often move from higher-cost areas, allowing them to buy homes outright
    • Desirable features: proximity to good schools, parks, and local amenities
  • Baby Boomers
    • In February 2024, 33% of U.S. homebuyers had all-cash sales
    • More than half of Older Boomers and 32% of Younger Boomers paid cash
    • Features boomers love: first-floor primary suites, low-maintenance outdoor space, wide doorways, and hallways
    • Highlight these features in the listing description
  • Property investors
    • Includes institutional buyers, house flippers, buy-and-hold investors, wholesale investors, and iBuyers
    • Oklahoma City has a high proportion of real estate investor purchases
    • Read more about real estate investors and their buying strategies

Realtor.com’s 2023 Investor Report identified Oklahoma City as a metropolitan area with a high proportion of investor purchases. The report found that 20.8% of homes sold in Oklahoma City were acquired by investors. In Tulsa, investor purchases accounted for 17% of total sales, placing the city at five on the list.

Pros of working with an Oklahoma City cash home buyer

Cash offers are good for Oklahoma City homeowners seeking an efficient and streamlined sales process. Here are some of the main pros of selling your property for cash:

  • Quick closings
    • Cash sales often close faster than traditional sales because they bypass the lengthy mortgage approval process.
    • This can be particularly beneficial if you need to move quickly or want to avoid the uncertainty of a drawn-out sale.
  • No contingencies
    • Cash offers typically come with fewer contingencies, which means fewer opportunities for the deal to fall through.
    • This can provide peace of mind and a smoother transaction experience.
  • As-is purchase
    • Many cash buyers are willing to purchase properties as-is, eliminating the need for costly repairs or upgrades.
    • This can save you time, effort, and money, making the sale process much simpler.
  • Simplified paperwork
    • Cash sales involve less paperwork, which can reduce stress and streamline the transaction.
    • With fewer documents to manage, the entire process becomes more straightforward and less time-consuming.
  • Certainty and reliability
    • Cash buyers often provide a more certain and reliable sale, as they do not depend on financing.
    • This can reduce the risk of last-minute issues and provide a smoother closing process.

How to request a cash offer in Oklahoma City

If you’re looking for a convenient way to secure a cash offer for your home, HomeLight’s Simple Sale platform is an excellent solution. This platform connects you with a vast network of vetted and pre-approved investors across the U.S. By answering a few basic questions about your property, you can receive a no-obligation, all-cash offer within 24 hours.

Accept the offer, and you could close the sale in as few as 10 days, avoiding the hassle of repairs, staging, and showings. Plus, you can select a move-out date up to 30 days from closing.

It’s important to note that cash buyers often offer less than what you might get on the open market. However, selling traditionally involves fees that can total 9% to 10% of your sale price. Depending on your situation, a cash buyer might still save you money and provide greater convenience.

How much are Oklahoma City cash home buyers willing to pay?

Cash home buyers typically offer less than what you might get on the open market. In exchange for speed and convenience, offers are often below market value. A common guideline for cash buyers, especially house flippers, is the 70% rule. This means they might offer 70% of your home’s after-repair value minus the cost of necessary repairs.

Oklahoma City’s housing market is competitive, which can influence cash offers. When the market is hot, cash offers might be closer to market value. However, when the market slows down, expect cash offers to be significantly lower than the market value.

Currently, Oklahoma City homes spend an average of 36 days on market—which is extremely fast compared to other markets! Combined with the average time it takes to close a loan (usually around 40 days), you’re looking at your home selling between 76-80 days. However, this is still significantly longer than selling your home for cash, which can often be done in days.

What’s the process of selling to a Oklahoma City 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:

1. Complete the Oklahoma Residential Property Condition Disclosure Statement

  • When selling your home in Oklahoma, you must complete the Oklahoma Residential Property Condition Disclosure Statement. This document outlines the condition of your property and any known issues. Oklahoma is not a caveat emptor state, so specific information must be disclosed.
  • If you’re working with an Oklahoma “We Buy Houses” company, they will likely prepare all the necessary documents, including this one. However, you can expedite the process by filling it out ahead of time. These companies buy homes in any condition, so filing the disclosure is more of a legal obligation.

2. The buyer runs a title search on the property

  • The cash buyer will 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 title issues include boundary disputes, unknown easements, undisclosed heirs, public record errors, and forgery.

3. The seller pays any associated fees

  • A cash sale typically involves fewer closing costs than a traditional home sale, but sellers may still need to cover some costs, such as transfer taxes, title insurance, escrow fees, and attorney fees.
  • In Oklahoma, the transfer taxes (also known as Documentary Stamp Tax) cost $0.75 per $500 of the sale price. If you’re looking to avoid closing costs altogether, “We Buy Houses” companies often pay them in exchange for a below-market value offer.

Deciding to sell to Oklahoma City cash home buyers

Homeowners have a good chance of selling for cash, as Oklahoma remains a popular state to invest in real estate. Whether you want to compare buyers yourself, work with a real estate agent, or get an offer through Simple Sale, HomeLight can connect you with top professionals and resources. We’re dedicated to helping you navigate the selling process, making it fast and efficient by leveraging Oklahoma City’s thriving market.

Header Image Source: (Gerson Repreza/ Unsplash)