What gets removed, and what doesn't
A cash purchase removes mortgage underwriting, the appraisal, the lender's conditions, and usually the post-inspection repair negotiation. Those are the steps that make a financed sale take a month and a half or more, and removing them genuinely compresses the timeline.
What remains is a title search and clearance, attorney review on both sides, municipal searches, payoff letters from any lienholder, and the mechanics of scheduling a closing. None of that is optional and none of it moves faster because a buyer paid cash.
The most common causes of delay
- Title defects: unreleased mortgages, old judgments, gaps in the chain of title, or a survey issue
- Estate matters awaiting Surrogate's Court authority
- Slow payoff letters, particularly from reverse mortgage servicers
- Unpaid taxes, water charges or municipal violations that must be resolved
- Occupancy: coordinating a tenant or a seller's move-out
- A divorce or bankruptcy proceeding requiring court approval