Is It Safe to Sell Your Home for Cash? Here’s What You Need to Know
Yes — selling your home for cash is completely legal, safe, and often the fastest way to sell. The key is working with a reputable home-buying company that follows all laws and handles every detail the right way.
Important Points to Consider:
U.S. Supreme Court Ruling:
The Supreme Court clarified that transferring property ownership without notifying the lender is not fraudulent. (Field v. Mans, 1995. S.Ct.207).
Field v. Mans (516 U.S. 59, 1995):
This case highlighted that lenders can easily verify property transfers through public records. If the lender wasn’t informed about a due-on-sale clause violation, it doesn’t constitute fraud.
Medovoi v. American Savings & Loan (1979):
This case established that buyers are not legally required to notify lenders about a property transfer, and lenders cannot sue buyers for failing to do so.
Misunderstanding the "Due-On-Sale" Clause:
Transferring property title with a “due-on-sale” mortgage is not illegal. There’s a common misconception that violating this clause is a criminal offense—it’s not. Violating a “due-on-sale” clause does not result in legal penalties like jail time.
Garn-St. Germain Act:
This federal law allows lenders to enforce the “due-on-sale” clause but also provides exceptions. These exceptions include property transfers related to marriage, divorce, or lien creation, among others.
Federal Home Loan Bank Board:
Now replaced by the Office of Thrift Supervision (1989), this board clarified that the Garn-St. Germain Act primarily applies to owner-occupied homes.
Conclusion
Selling your home for cash is a smart, legal, and stress-free solution — especially when you need to sell quickly or avoid the hassle of repairs and showings.
With SVRE Home Buyers, you’ll work with a trusted, BBB-accredited company that handles everything transparently, so you can close fast and move forward confidently.
Mirror Wrap / Wrap Around Financing FAQ Guide
For Sellers:
Do you buy manufactured or mobile homes?
Yes, but you must own the land as well.
I have already listed my home with a Realtor, can I still work with you?
Yes, although the seller is responsible for any commission owed to the Realtor. Any formal offer will need to be submitted through your current realtor as long as you are in contract.
How long does it take to sell my home through SVRE Home Buyers
It is up to you. We can typically close within 10-14 days or longer if desired.
Why should I use your service versus using a Realtor?
When choosing SVRE Home Buyers to sell your home, you will have a quick and easy sale. You don’t have to worry about finding a Realtor that you can trust and who will price your home appropriately. There is no hassle of strangers walking through your home for a tour or open houses. It is a quiet sell so you do not have to worry about nosey neighbors. No negotiating for repairs — SVRE Home Buyers will buy your home in As-Is condition! You also won’t have to worry if the buyer will actually close.
Can I sell my home to you even if I am behind on payments?
Yes! If you are behind on payments SVRE Home Buyers can still help!
Do you by condos?
Yes, we buy condos.
How do you establish the price?
We establish the price based off of the current market conditions, the neighborhood comps, as well as the current condition of the home.
Do you buy homes in foreclosure?
Yes, again if you are behind in payments or in foreclosure SVRE Home Buyers can still help!
Do you charge a fee to evaluate my home’s condition?
No, it is absolutely FREE selling your home to SVRE Home Buyers.
How does the process work?
Our home buying process consists of six simple steps:
- Contact: Complete the online form to let us know that you are interested in help to “SVRE Home Buyers“, or call us directly at (469) 694-3880.
- Phone Call: During the initial phone call we will collect your property details and learn more about your unique situation and closing requirements.
- On Location Meeting/Proposal: After we collect the details of your property and situation, we will then schedule an on-location inspection of your home and provide you with a firm offer at that time. There is no obligation to accept our offer.
- Review of Offer: The ball is in your court. You decide what is in your best interest. We encourage you to take as much time as you need to look over our offer. We understand this is a significant decision and will work with you on your timeline.
- Acceptance of Offer: If you agree to our offer, we’ll arrange a cash transaction and open up escrow & title to complete the purchase based on your time requirements. There are no hidden fees or costs involved. We pay all closing costs. What we offer you is what you get, and nothing less. We buy houses fast, for cash. It’s that simple!
Where do you buy homes?
We are currently purchasing homes throughout the region. Our company is based in Addison, TX – 75001, USA, and continues to grow rapidly as we expand our reach. We are always adding new areas, so contact us ASAP — because we want to buy your house.
How do I get a quote on my house?
Fill out the “Get My Free No-Obligation Quote” under the contact tab on our website or give us a call at (469) 694-3880
If you make me an offer, how soon do I have to decide if I want to accept it?
The offer to ‘sell my house fast in Addison, TX’ technically does not expire, but if too much time passes, we may need to rerun our numbers due to changing market conditions.
Risks for Sellers:
IJ Default Risk: There is a risk of the buyer defaulting on payments, which could lead to foreclosure proceedings. To mitigate this risk, we structure the closing paperwork in a
way that seller gets to toke control Of the property back from the buyer upon 30days Of default (non-payments), keep all the proceeds, added equity and appreciation before it
starts hurting their credit/ lender starts foreclosure proceedings on the
property.
2) Interest Rate Risk: If the seller has an adjustable-rate mortgage (ARM), they may be exposed to fluctuations in interest rotes, We prefer fixed interest rates to ovoid this issue.
3) Due on Sale Risk: Implementing a mirror wrap or wraparound financing may trigger the ‘Due on Sale• clause in the original mortgage agreement. potentially requiring the full
loan balance to be paid. However. we have multiple steps in place to mitigate and resolve this risk. If the land trust does not work. we can transition the sale into a lease
purchase transaction to help reverse the note being called due. Alternatively, we have attorneys available who can assist in reversing the note being called due if such a
situation arises, Ultimately. if all else fails. we can sell or refinance the property. If the note gets called. the seller would simply need to notify the buyer immediately to ensure the
situation is resolved promptly. It is important to note that resolving this issue would ultimately be the buyer’s responsibility. not the seller’s.
Disclaimer: This FAQ guide is for informational and educational purposes only and does not constitute legal or financial advice. It is recommended to consult with qualified
professionals before entering into any real estate transaction.
1] Default Risk: There is a risk of the buyer defaulting on payments, which could lead to foreclosure proceedings. To mitigate this risk, we structure the closing paperwork in a way that seller gets to take control of the property back from the buyer upon 30days of default (non-payments), keep all the proceeds, added equity and appreciation before it starts hurting their credit/ lender starts foreclosure proceedings on the
property.
2] Interest Rate Risk: If the seller has an adjustable-rate mortgage (ARM), they may be exposed to fluctuations in interest rates. We prefer fixed interest rates to avoid this issue.
3] Due on Sale Risk: Implementing a mirror wrap or wraparound financing may trigger the ‘Due on Sale’ clause in the original mortgage agreement, potentially requiring the full loan balance to be paid. However, we have multiple steps in place to mitigate and resolve this risk. If the land trust does not work, we can transition the sale into a lease purchase transaction to help reverse the note being called due. Alternatively, we have attorneys available who can assist in reversing the note being called due if such a situation arises. Ultimately, if all else fails, we can sell or refinance the property. If the note gets called, the seller would simply need to notify the buyer immediately to ensure the situation is resolved promptly. It is important to note that resolving this issue would ultimately be the buyer’s responsibility, not the seller’s.
Disclaimer: This FAQ guide is for informational and educational purposes only and does not constitute legal or financial advice. It is recommended to consult with qualified professionals before entering into any real estate transaction.