Before you sign with any cash buyer in Florida, find out who the buyer on the contract is, see proof that it has the money, and confirm a licensed title company or closing attorney will hold the deposit. Then get the inspection period, any price-change rules, closing costs, and your closing date in writing. The 10 questions below cover what most sellers need to know.
10 questions to ask any cash buyer before you sign
- What is the exact name of the buyer on the contract, and who will sign at closing?
- Can the contract be assigned, and will you tell me in writing if it is?
- Can you show proof of funds in the buyer’s name?
- How much is the earnest money deposit, when is it due, and which title company or attorney holds it?
- When does the deposit become non-refundable?
- How long is the inspection period, and what happens if you cancel?
- Will the price change after inspection, and for what reasons?
- Who pays closing costs, title insurance, documentary stamp tax, liens, and code fines?
- Can you close on my date, and can I stay after closing if I need time to move?
- Will you market my house to other buyers before closing, and does anyone involved hold a Florida real estate license?
Get the answers in the contract, not just on the phone.
Who is the buyer, and who signs at closing?
Read the buyer’s name on the contract. It might be a person, an LLC, or a trust. Ask who stands behind it.
At closing, you sign the deed. Florida law requires a deed to be in writing and signed in the presence of two subscribing witnesses by the person conveying the property. The deed names who takes title, so ask in advance whose name will be on it.
What does “and/or assigns” mean, and when does it matter?
If the contract says “Buyer and/or assigns,” or has a paragraph allowing assignment, the buyer can transfer its right to buy your property to someone else. Investors also use double closings, where they buy, take title, and resell later. Both are common, legal ways to structure a purchase. Your job is to know which one is happening and to protect your terms in writing:
- Your price, deposit, and closing date stay the same if the contract is assigned.
- You get notice of any assignment and the new buyer’s name before closing.
- The deposit stays in escrow and goes with the contract.
If you do not want the contract assigned, say so before you sign and ask that the assignment language be removed or that assignment require your written consent.
How do I check proof of funds?
Ask for a recent bank statement, a bank letter, or a funding letter from a lender. It should be recent, cover the price, and be in the buyer’s name, or the buyer should explain the connection. If something looks off, call the bank at a number you look up yourself.
Earnest money: how much, who holds it, and when is it at risk?
The deposit amount is whatever the contract says. What you want to know:
- Who holds it. It should go to a licensed Florida title agency or a closing attorney, not to the buyer or to you. Under section 626.8473, Florida Statutes, funds a title agency receives for a closing are trust funds held in a fiduciary capacity, kept in escrow, and used only under the instructions they were accepted on.
- When it is due. The contract should set a deadline. Call the title company to confirm it arrived.
- When it becomes non-refundable. Often after the inspection period ends, but your contract decides. Find that sentence.
How long is the inspection period, and what if the buyer walks?
Many contracts let the buyer cancel for any reason during an inspection or due-diligence period, while your house is off the market. Ask how many days the buyer needs and why, and whether they get the full deposit back if they cancel.
Will the price change after inspection?
Sometimes an inspection finds a real problem and the buyer asks for a lower price. Ask up front whether you will see the report or contractor estimate behind any request. Get any price change and its reason in writing, signed by both sides. You do not have to accept it; your contract decides what happens if you say no.
Who pays closing costs, doc stamps, liens, and code fines?
Closing costs in Florida are negotiable. Your contract should say who pays each item:
- Documentary stamp tax on the deed. Florida’s rate is 70 cents per $100 of the price under section 201.02. Section 201.031 lets counties add a surtax that does not apply to deeds that involve only a single-family residence. The tax can be collected from any party to the document, so the contract decides who pays. See the Florida Department of Revenue.
- Title insurance and title company fees.
- Liens, unpaid taxes, and HOA balances. These are usually paid off from the sale proceeds at closing unless the buyer agrees to cover them.
- Code enforcement fines. Ask whether the buyer will pay them, negotiate them, or take the property subject to them.
Ask the title company for an estimated settlement statement so you can see your net amount.
Can the buyer close on my date, and can I stay after closing?
Ask if the buyer can close on your date. If you need time to move, ask for a written post-closing occupancy agreement: how many days you can stay, any rent, and whether money is held back until you hand over the keys.
What if someone markets my house to other buyers?
Florida’s real estate license law defines a broker as a person who, “for another, and for a compensation or valuable consideration,” sells or negotiates the sale of real property. The definition in section 475.01(1)(a) also covers anyone who, for pay, advertises that they sell “real property of others” or “takes any part in the procuring of sellers, purchasers” for another person’s property. Under section 475.42(1)(a), operating as a broker without a valid, current, active license is a third-degree felony.
That is not an accusation against any buyer. It simply makes it fair to ask whether your house will be advertised to other buyers before closing and whether anyone involved is licensed. Look up names with the Florida DBPR license lookup, and talk to a Florida attorney about any concerns.
How do I protect my money at closing?
Wire fraud targets real estate closings. The Consumer Financial Protection Bureau advises picking trusted contacts early, confirming wire instructions by phone using a number you already have, and never following money instructions sent only by email. Confirm with your title company how it will send your proceeds.
Things to ask about before you sign
None of these means a buyer is acting in bad faith. They are reasons to ask more questions:
- Proof of funds is not available until after you sign.
- The deposit is very small, not due for weeks, or held by someone other than a title company or attorney.
- The inspection period is longer than the buyer can explain.
- A price change is requested near closing without a written reason.
- You cannot find or reach the title company on your own.
- You are pushed to sign before you can read the contract or talk to an attorney.
How All About Real Estate can help
All About Real Estate LLC signs the contract as the buyer and buys with cash, as-is, anywhere in Florida. We close with a Florida title company and pay the closing costs. We usually send a written offer within 24 hours and can close in as little as 7 days. All About Real Estate is a buyer, not a real estate brokerage. If you are settling an estate and use our probate attorney, we pay the attorney fees.
Ask us every question on the list above. Call, text, or WhatsApp (786) 753-8500, 24/7, or visit 5347 SW 25th St, Hollywood, FL 33023. Se habla español.
Frequently asked questions
What does “and/or assigns” mean on a Florida purchase contract?
It lets the buyer named on the contract transfer its right to buy your property to another person or company, who then closes in its place. What matters to you is knowing who will close and that your terms stay the same.
What is a double closing?
A double closing is when an investor buys your property and then resells it, sometimes on the same day or soon after. You sell to the buyer on your contract, and that buyer takes title. A later resale is a separate transaction that does not change your contract.
Where should the earnest money deposit be held?
With a licensed Florida title agency or a closing attorney you have verified yourself.
Who pays documentary stamp tax when I sell?
Florida law does not lock in one answer. The tax can be collected from any party to the deed, so your contract decides who pays. Read that section before you sign, or ask for a closing cost estimate in writing.
This article is general information, not legal or tax advice. Talk to a Florida attorney or CPA about your situation.
Frequently asked questions
What does "and/or assigns" mean on a Florida purchase contract?
It lets the buyer named on the contract transfer its right to buy your property to another person or company, who then closes in its place. What matters to you is knowing who will close and that your terms stay the same.
What is a double closing?
A double closing is when an investor buys your property and then resells it, sometimes on the same day or soon after. You sell to the buyer on your contract, and that buyer takes title. A later resale is a separate transaction that does not change your contract.
Where should the earnest money deposit be held?
With a licensed Florida title agency or a closing attorney you have verified yourself.
Who pays documentary stamp tax when I sell?
Florida law does not lock in one answer. The tax can be collected from any party to the deed, so your contract decides who pays. Read that section before you sign, or ask for a closing cost estimate in writing.
This article is general information, not legal or tax advice. Talk to a Florida attorney or CPA about your situation.
By Petru Pusta, owner of All About Real Estate LLC. Petru is a licensed Florida real estate broker (BK3293808) with Kariza Capital Realty LLC. All About Real Estate LLC buys property directly as a principal and is not a real estate brokerage.
Sources
- Fla. Stat. 475.01 (2024 text, Public.Law)
- Florida Statutes 475.01 (flsenate.gov)
- Florida Statutes 475.42 (flsenate.gov)
- Florida Statutes 626.8473 (2024, flsenate.gov)
- Fla. Stat. 689.01 (2024 text, Public.Law)
- Florida Statutes Chapter 201 (2026, flsenate.gov)
- Florida Department of Revenue: Documentary Stamp Tax
- CFPB: Mortgage closing scams
- Florida DBPR: Report Unlicensed Activity
