Dispositions

What documents do cash buyers need to close on an assignable contract?

When you have an assignable contract and a cash buyer, providing the right documents upfront streamlines the closing process. The core package includes the original purchase agreement, your assignment contract, and proof of clear title.

November 2, 2026 · 3 min read

The original purchase and sale agreement

This is the foundational document. Your cash buyer needs to see the original contract you have with the seller. This shows him or her the agreed-upon purchase price, terms, and any contingencies. He or she must understand what he or she is buying.

Make sure this document clearly states that the contract is assignable. If it does not, you might need an addendum or a separate agreement with the seller. Transparency here builds trust with your buyer.

The assignment of contract

This is your agreement with the cash buyer. It formally transfers your rights and obligations under the original purchase agreement to him or her. This document will specify your assignment fee and the terms of that transfer.

The assignment contract should clearly define the new buyer's responsibilities, including deadlines and any due diligence periods he or she might have. Ensure both you and the cash buyer sign this document.

Preliminary title report and related documents

A preliminary title report is essential. It gives the cash buyer an overview of the property's ownership history, any existing liens, easements, or other encumbrances. This information helps him or her assess potential risks.

Provide any lien releases, affidavits of heirship, or other documents that help clear up title issues. If there are known issues, present them transparently and explain how they will be resolved before or at closing.

Proof of funds from the cash buyer

While not a document you provide, it is a crucial document the cash buyer must provide to the title company or closing attorney. This verifies that he or she has the capital to close the deal. This is usually a bank statement or a letter from his or her financial institution.

You should ensure this is in place before moving too far with the buyer. A buyer who cannot prove funds is not a real buyer. It protects you from wasting time on a deal that cannot close.

Property details and inspection reports

Provide any available property information, such as property tax records, a survey if you have one, or disclosures from the seller. If you conducted any inspections, share those reports with your cash buyer.

The more information you can provide about the property's condition, the better. This helps the buyer complete his or her due diligence quickly and confidently. Transparency about property condition minimizes surprises later.

Facilitating the closing with clear communication

Once all documents are in order, communicate consistently with the title company or closing attorney and your cash buyer. Ensure everyone understands the timeline and his or her roles. A smooth closing reflects well on you and encourages repeat business.

Be available to answer questions and address any last-minute concerns. Your role is to bridge the gap between the seller and your cash buyer, ensuring a seamless transaction. This careful coordination is key to successful dispositions.

Questions people ask

Do I need to show the cash buyer my assignment fee?

The assignment fee is typically disclosed on the assignment of contract document itself. Transparency is generally best practice, as the buyer will see it on the settlement statement at closing anyway.

What if the cash buyer wants to use his or her own title company?

If the buyer insists, he or she can usually use his or her preferred title company. However, ensure his or her chosen company is experienced with assignment transactions to avoid unnecessary delays.

How do I get the preliminary title report for the cash buyer?

You order the preliminary title report from a title company or real estate attorney once you have a signed purchase agreement with the seller. It is a standard part of due diligence.