To make a cash offer on a house in Seattle, have the full price sitting in your own accounts, write the purchase agreement with no financing addendum, send proof of funds with it, and plan to close in 1 to 2 weeks. Cash takes the loan and the lender’s appraisal out of the deal. It doesn’t take out the inspection, the title review or your earnest money, and in Seattle it doesn’t always win.
Cash offer planner
Does your money count as cash, and what happens next?
Pick your side, then tap what fits. Dates use NWMLS defaults and Washington legal holidays. Nothing you enter leaves this page.
Your contract dates
Checklist
I’ve written cash offers for buyers and fielded them on my listings, and I’ve watched cash win and lose. Use the planner above to see whether your money counts as cash today, what your contract dates would be, and what a seller will want to see.
The basics
What a cash offer means in Washington
A cash offer is an offer with no loan in it. Washington’s standard purchase agreement, NWMLS Form 21, already says the buyer pays the price “in cash at Closing.” A financed buyer brings that cash from a lender. A cash buyer brings it from their own accounts, so the offer goes in without the Financing Addendum (Form 22A).
Form 21 also has the buyer promise they aren’t relying on a contingent source of money, which it lists as loans, the sale of other property, gifts, retirement or future earnings, unless the contract says so. That one sentence is why a seller asks a cash buyer for proof of funds.
| Compared | Cash offer | Financed offer |
|---|---|---|
| Money comes from | Your own accounts, wired to escrow | Your down payment plus a lender’s loan |
| Financing addendum | None | Form 22A, usually with a financing contingency |
| Appraisal | Only if you ask for one (Form 22AA) | The lender orders one |
| Proof the seller sees | Statements or a bank letter | Pre-approval letter, plus down payment funds |
| Typical close in my files | 7 to 14 days | About 9 to 25 days; about 9 to 17 with a fully underwritten loan |
Step by step
How to make a cash offer on a house, step by step
The paperwork is the same Form 21 every Seattle buyer signs. What changes is the money and the timeline.
- 01MoneyReady to wire
- 02ProofStatement or letter
- 03TitleYour name or an entity
- 04OfferForm 21, no 22A
- 05DeadlinesEarnest money, inspection
- 06CloseWire, sign, record
- 1Get the money where it can move. Cash means the full price plus closing costs, ready to wire. Money in stocks, a retirement account or a home you haven’t sold yet isn’t cash until it’s in your bank account. The planner above sorts it for you.
- 2Pull your proof. A recent statement or a bank letter showing your name, the bank and the balance. My proof of funds guide covers what counts, what to black out, and NWMLS Form 22EF if some money arrives later.
- 3Decide how you’ll hold title. Your own name, or an LLC or trust. An entity changes the paperwork at closing (see the FinCEN section below).
- 4Write the offer. Form 21 with no financing addendum: price, earnest money, closing date, and the protections you’re keeping, such as an inspection (Form 35) or an appraisal (Form 22AA).
- 5After mutual acceptance. Earnest money is due in 2 business days if the contract doesn’t say otherwise. Inspection and information-verification periods default to 10 days. Title and escrow open the file.
- 6Wire and close. Call escrow at a number you look up yourself before you wire; Form 21 now says so in writing. Then sign, wire, and the deed records.
How to make a cash offer stand out (closing date, what to keep, what to show) is offer strategy, so it lives in my buyer guide’s offers chapter for clients. Escalation clauses are in my bidding war post.
Cash vs a loan
Cash vs a mortgage: what changes and what doesn’t
Cash shortens the timeline because nobody waits on underwriting or a lender’s appraisal. Everything else in a Seattle closing still happens: escrow, a title search, the seller’s payoff, recording. That’s why a cash close here still takes 1 to 2 weeks, not 2 days.
−What cash removes
- Loan approvalNo underwriting, no financing contingency to wait out.
- Lender’s appraisalGone, unless you add your own with Form 22AA.
- Lender fees and the lender’s title policyNo loan, so no lender charges.
=What stays the same
- InspectionYours to keep or waive (Form 35).
- Title and escrowTitle search, owner’s title policy (the seller pays for it under Form 21), half the escrow fee.
- Earnest moneyStill due, still at risk if you default.
- Wire safetyConfirm instructions by phone before you send a dollar.
Seattle in 2026
Is cash still king in Seattle?
Less than almost anywhere. Redfin’s county-record count found 17.6% of Seattle-area purchases were all cash in March 2026, the lowest share of the 40 metros it tracks, against 28.8% nationally. Paying cash in an expensive market takes millions, so most Seattle buyers finance.
Sellers here weigh certainty and net price together, and a strong financed offer can close nearly as fast. Earlier this year I watched a cash offer with every dollar already in the bank lose to a higher financed offer that could close in 15 days. Last fall the winning offer on a $1.6 million home was financed, $20,000 above the best cash offer. Cash is a tool. It’s not magic and it’s not gold.
How financed buyers compete with cash, and when cash should ask for a lower price, depends on the house and the month. That’s client strategy: buyer guide, offers and seller guide, offers.
For buyers
Pros and cons of buying a house with cash
+What cash gets you
- Fewer ways to fall apartNo loan denial, no rate lock, no lender appraisal.
- A shorter closing1 to 2 weeks in my files.
- No monthly paymentNo mortgage interest, no lender rules on how you use the house.
- Homes lenders won’t touchCondos with HOA problems, fixers and odd properties.
−What it costs you
- Your money is tied upA house is hard to turn back into cash fast.
- No lender double-checkNobody else checks the value unless you order an appraisal.
- Less in reserveRepairs, a job change or a market dip hit harder.
- Not always the winnerSellers still compare price and terms.
If you pay cash and later want some of it back, Fannie Mae’s delayed financing exception lets you take a cash-out refinance within 6 months of a cash purchase. The new loan can be no more than what you documented putting in (plus closing costs), the original purchase must show no mortgage on the settlement statement, and gift money can’t be paid back from it. Ask your lender before you buy, not after; here’s how I think about lenders.
- 01Buy with cashSettlement statement shows no loan
- 02Keep the paper trailWhere every dollar came from
- 03RefinanceWithin 6 months of buying
- 04Get money backUp to what you documented putting in
Whether to pay cash or borrow is a money decision as much as a real estate one. Talk with your CPA or financial advisor.
Where cash shines
When a cash offer matters most
Cash earns its keep on homes a lender struggles with. Earlier this year a condo with unrepaired safety and structural items in its HOA records was hard to finance, and the listing agent hoped for a cash buyer or a portfolio loan. A full-price cash offer won.
For sellers
For sellers: what a cash offer removes, and what it doesn’t
A cash offer removes the loan and the lender’s appraisal. It doesn’t remove the buyer’s other exits: an inspection, the 10-day information verification period, an appraisal addendum if they added one, or a sale contingency (Form 22B), which makes it a contingent offer, not cash.
Check that the money exists before you lean on the word “cash.” Ask for proof with the offer, or a short deadline on Form 22EF. Some “cash offers” are backed by a company that buys the home and resells it to the buyer with a loan; ask what conditions come with it. Comparing several offers is in my bidding war post.
Selling for cash
Selling your house for cash to a company
Instant-offer companies (iBuyers) and “we buy houses” investors make cash offers on your home so you can skip showings and pick a date. The trade is price. Opendoor, the largest, deducts a service charge that varies by market and home, plus repairs from its inspection, plus normal seller closing costs; its own article puts those closing costs at 1% to 3%.
Before you say yes, put the offer next to what a listed sale would net you. The net sheet in my seller guide runs those numbers with Washington’s excise tax. If you’re behind on payments or facing foreclosure, Washington’s distressed property law (RCW 61.34) adds protections against equity-skimming deals; talk with an attorney first.
LLCs and trusts
Buying with cash in an LLC or trust: the FinCEN rule
A federal rule from FinCEN required title companies to report most all-cash home purchases made in the name of an LLC, corporation or trust. It took effect March 1, 2026. On March 19, 2026, a federal court in Texas vacated it nationwide, and FinCEN appealed on May 11, 2026. While that order stands, FinCEN says no reports are required, and it won’t require reports for those months if the rule returns.
- 01Aug 2024Final rule published
- 02Mar 1, 2026Reporting starts
- 03Mar 19, 2026Court vacates it
- 04May 11, 2026FinCEN appeals
- 05NowNo reports while the order stands
NWMLS added a clause to Form 21 in February 2026 that has the buyer give escrow the information for that report and pay for it, if the report applies. Buying in your own name isn’t covered by the rule either way.
FAQ
Frequently asked questions about cash offers
What is a cash offer on a house?
An offer to buy with your own money and no mortgage. In Washington it’s the standard Form 21 purchase agreement without a financing addendum, usually with proof of funds attached.
How do I make a cash offer on a house?
Get the full price and closing costs into accounts you can wire from, pull a recent statement or bank letter, choose how you’ll hold title, then write Form 21 with no Form 22A and the protections you want to keep. Earnest money follows within 2 business days of acceptance unless the contract says otherwise.
Do I need proof of funds for a cash offer?
Yes. Sellers expect it with the offer, and Form 21 has you promise you aren’t relying on loans or other contingent money. My proof of funds guide covers what to send.
How long does it take to close on a house with cash?
About 7 to 14 days in my files. Title, escrow and the seller’s payoff set the pace once the loan is gone.
Is a cash offer better for the seller?
It’s more certain: no loan to fail and no lender appraisal. Sellers still compare price and terms, and in Seattle a strong financed offer often wins.
How much less can you offer with cash?
There’s no rule. In a slow week a seller may trade price for certainty; in a bidding war a low cash offer usually loses. Pricing an offer is strategy I cover with clients.
Can a cash offer fall through?
Yes. The buyer can still use an inspection, information verification, an appraisal addendum or a sale contingency if the contract has them, and money that isn’t really there falls through at closing.
Do cash buyers need an appraisal or an inspection?
Neither is required. Many cash buyers still inspect, and NWMLS Form 22AA adds an appraisal contingency without a loan.
Can I make a cash offer without cash?
Through a cash-offer company, yes: it buys the home with its money and you buy it back with your loan, for a fee. Read the conditions; you still have to qualify for the loan.
Can I buy with cash and get a mortgage later?
Yes. Fannie Mae’s delayed financing exception allows a cash-out refinance within 6 months of a cash purchase, up to what you documented putting in.
Is a cash home purchase reported to the government?
FinCEN’s rule for cash buys by LLCs and trusts was vacated by a court on March 19, 2026 and is on appeal, so no report is required for now. It never covered purchases in your own name.
Should I sell my house to a cash buyer company?
Compare the offer’s net with a listed sale first. The company’s service charge and repair deductions usually cost more than the time they save. The seller net sheet helps.
The bottom line
A cash offer is the cleanest way to pay, not an automatic win. Get the money ready to wire, show it, keep the protections that matter to you, and expect 1 to 2 weeks to close.
If you’re weighing cash against a loan for a Seattle home, or a cash offer just landed on your listing, talk with me before you sign.
Sources
- Forms 21, 22A and 35, Rev. 2/26 sample packet, Northwest Multiple Listing Service
- Revised forms list (Appraisal Addendum 22AA, Evidence of Funds 22EF), Northwest Multiple Listing Service
- 29% of U.S. homebuyers paid cash in March (May 27, 2026), Redfin
- B2-1.3-03, Cash-Out Refinance Transactions, delayed financing exception, Fannie Mae Selling Guide
- Residential Real Estate Rule, Financial Crimes Enforcement Network
- FinCEN issues updated FAQs following vacatur of residential real estate reporting rule (May 26, 2026), Greenberg Traurig
- How much can I make by selling my house? (updated May 21, 2026), Opendoor
- RCW 61.34.020, Distressed property conveyances: definitions, Washington State Legislature
- RCW 1.16.050, Legal holidays, Washington State Legislature