A cash offer purchase agreement sets the price, who pays which costs, the closing date, the condition terms and whether the buyer can assign the contract. Read the as-is, inspection, earnest money, title and assignment clauses first. Get each promise in writing. Have an attorney review it before you sign.
Contracts and state laws vary. Treat this guide as a reading aid, not legal advice. We're a cash home buyer, so weigh our view accordingly. Where a law or state rule comes up below, the source is named and the month we checked it.
What a Cash Offer Purchase Agreement Covers
A cash offer purchase agreement is the contract between you as the seller and the buyer, and a cash sale generally means the purchase does not depend on the buyer getting a mortgage. Conditions can still apply.
At Eagle, an offer is only an offer. Nothing is binding until you and Eagle sign a purchase agreement.
Keep three numbers apart while you read. The price in the agreement is the offer. Your net proceeds are what remains after the mortgage payoff, liens, prorated taxes and any costs the agreement puts on you. And the market value is what the home might bring on the open market. A cash offer is usually lower than the price a fully repaired home could reach on the open market, because the buyer takes on the repairs, the holding costs and the risk of reselling. In return you skip the repairs, the showings and the wait. Our guide to what a cash offer on a house is covers that trade-off.
Which Clauses in a Cash Purchase Agreement Should You Read First?
Start with the clauses that decide money, timing and who ends up owning the contract. Your agreement may order them differently.
| Clause | What it says | What to ask |
|---|---|---|
| Price and costs | The purchase price and which side pays closing costs, transfer tax and prorations | Which costs come out of my proceeds? |
| Earnest money | A deposit, if the contract has one | How much, who holds it, and when is it refundable? |
| Inspection period | Time the buyer has to inspect, and what the buyer can do afterward | When does it start and end, and can the price change? |
| As-is clause | You are not asked to make repairs | Does anything else in the contract contradict it? |
| Title and extensions | A clear title is expected, and the buyer may get more time to clear it | Is there an end date on extensions? |
| Closing date and possession | When the sale closes and when you hand over the keys | What starts the clock, and what happens if the date slips? |
| Assignment ("and/or assigns") | Whether the buyer can transfer the contract to someone else | Will the buyer close itself, and is any assignment right disclosed? |
| Default and termination | What each side can do if the other backs out | Can the buyer cancel at any time, and at what cost? |
At Eagle, the purchase agreement states the price, the closing date or timeline, any contingencies and the other material terms before you sign. Our standard agreement includes inspection rights, contingencies and assignment rights, so we don't describe a cash offer as free of conditions.
As-Is Clause vs Seller Promises: A Contradiction to Look For
"As is" is common usage, not a single legal rule. An as-is contract can still include an inspection period and contingencies. Within them, the buyer may be able to cancel or ask for a different price. So "as is" tells you that you are not being asked to make repairs. It doesn't tell you everything the buyer can still do before closing.
The contradiction to watch for is an as-is clause in one place and language elsewhere in which you promise something about the property, such as that the systems work or that you know of no defects. If you sign both, the second may be read as a promise you made. Ask the buyer to explain it, and ask an attorney which of your statements count as promises. One seller in our files challenged several clauses in our own agreement, among them a warranty that contradicted the as-is sale, and a closing that could extend week by week for title delays. The warranty language was removed, and we confirmed in writing that the extensions apply only to delays the buyer doesn't cause, such as probate. The full story is in our guide to companies that buy houses as is.
Selling a property as-is does not automatically eliminate disclosure obligations under applicable federal, state or local law. Tell us what you know about the roof, plumbing, electrical system, foundation, environmental conditions and any past damage or repairs so we can evaluate the property accurately and address known issues in writing before you sign. A real estate attorney licensed in your state can confirm which disclosures apply.
What "And/Or Assigns" Means for You: The Assignment Clause
An assignment clause lets the buyer transfer its rights under the contract to another person or company. You often see it as "and/or assigns" after the buyer's name. Illustrative wording, not a template: "Buyer may assign this Agreement to a third party without Seller's further consent." The clause in your contract may be narrower, wider or missing, so read it line by line.
When a buyer assigns, a different party can end up closing on your house, and because the contract you signed is the one that is transferred, ask whether it fixes your price and closing date no matter who closes. An assignment is not automatically a problem. Some buyers use it openly and some contracts forbid it, so the real question is whether you were told before signing and whether the terms stay as written.
Eagle may purchase the property itself or, if the purchase agreement permits, assign its contractual rights to another investor or purchasing entity. Any assignment right is stated in the agreement before you sign. Look for the same disclosure from any buyer.
Do State Wholesaling Rules Apply to Your Contract?
Wholesaling means a buyer signs a contract to buy a house and passes that contract to another buyer before closing. Some states regulate it. Connecticut's Department of Consumer Protection says that from July 1, 2026, wholesalers must register with the department, that a seller can cancel a wholesaling contract within three business days without penalty, and that the original contract must name a closing date no more than 90 days after the contract date, which can be extended only by mutual written agreement (Connecticut DCP, checked October 2026). Oklahoma's Predatory Real Estate Wholesaler Prohibition Act, in effect since November 1, 2021, requires wholesalers to obtain a real estate license (Oklahoma Real Estate Commission announcement, August 2021, checked October 2026). Those are two states, not a national rule, so check with your state's real estate commission or an attorney licensed there, and ask any buyer that plans to assign whether it holds the license or registration your state requires. Our guide on whether "we buy houses" companies are legit explains how wholesalers and direct buyers differ.
Earnest Money and Inspection Periods
Earnest money is a deposit the buyer puts down to show it is serious about the purchase, and some cash purchase agreements include one while others don't. If yours does, ask how much it is, who holds it (often a title or escrow company or an attorney, rather than the buyer) and in which situations it is refundable.
The inspection period is the window in which the buyer can look at the property and, depending on the contract, cancel or ask for a different price, so its length, its start date and what happens when it ends all matter to you. A buyer who can cancel at any time with no deposit at risk can leave you tied up while it keeps its options open.
If the buyer asks for a lower price after inspecting, you can say no, although depending on the contract the buyer may then be able to cancel. Our guide to negotiating with a cash home buyer shows how to respond.
Can a Title Clause Keep You Under Contract?
It can, if the contract lets the buyer extend the closing while a title problem is cleared and sets no limit on how long that takes, how many times the buyer can ask for more time or what the buyer owes you while you wait. Title problems are often paperwork rather than a problem with the house itself: an unreleased lien, a deed that needs correcting, a name that doesn't match the records. A fair clause gives the buyer a set number of extra days and says what happens when they run out.
In the seller files Eagle documented in 2026, about one in five involved a title or paperwork problem that had to be resolved before closing, and about one in seven needed flexible timing. These are sellers who contacted a cash buyer, not a representative sample of home sellers. In our own sales, title work, liens or payoffs can affect the timing. Most sales close in 21 to 42 days, or later if you need more time. You pick the date.
Ask for an end date on any extension and for the clause to say who pays for clearing the title, and see our guide to how cash home buyers handle title insurance for what to expect.
Who Pays What at Closing?
This clause matters because the offer price is not what you take home, and the gap between the two depends on payoffs, liens, taxes and the costs the agreement assigns to each side. At Eagle, we pay the closing costs on a sale to us, except your share of any transfer tax, and the purchase agreement sets this out. Your mortgage payoff, any liens and prorated property taxes are paid from the sale proceeds. Retail Max is our second option: a higher agreed price, with Eagle marketing the house to an end buyer, a longer timeline and showings. On a standard cash offer the seller pays the transfer tax; on a Retail Max sale Eagle pays it. The purchase agreement states who pays.
With any buyer, ask for a written list of each cost and credit, and compare it with the settlement statement before closing.
Red Flags in a Cash Purchase Agreement
These terms deserve a second opinion:
- No closing date, or extensions with no end date. You can end up waiting while the house sits off the market.
- A buyer who can cancel at any time with no deposit at risk, while you stay bound.
- Fees charged to you up front. Ask what any up-front charge is for, and don't pay it until you have a written answer and an attorney has read the contract.
- A request to sign over the deed or title before closing. The North Carolina Department of Justice describes "we buy homes" schemes in which the company convinces the owner to sign over control of the home and then leases it to a new tenant, and it says to beware of anyone who asks you to sign over the title to your home based only on their promises to sell your property (NC DOJ, "We Buy Homes" scams, checked October 2026).
- Wiring or payment instructions that arrive by email. The CFPB's guidance on mortgage closing scams, written for homebuyers, advises confirming closing and payment instructions with trusted contacts in person or at a phone number you agreed on in advance, and never following instructions contained in an email (CFPB, checked October 2026). We'd apply the same caution to any email that changes where your sale proceeds are sent.
- Blank spaces, or pressure to sign before you have read it.
Questions to Ask Before You Sign
- Who is the buyer, and will it close on my house?
- If it is assigned, does the original buyer stay responsible if the new buyer doesn't close?
- Has an attorney licensed in my state read it?
Our how it works page shows where the purchase agreement fits in our process. You can ask us what any clause in our agreement is for, and your own attorney can tell you what it means for you.
Eagle Cash Buyers is not a law firm, title company or tax advisor. This information is general and is not legal, title or tax advice. Laws, procedures and transaction costs vary by state and locality, and the purchase agreement and closing documents control each transaction.
Cash Offer Purchase Agreement FAQ
What are the risks of an assignment clause?
The main risks are that a party you haven't met ends up closing and that you may not be able to tell whether it has the funds or any license your state requires. The buyer may also need time to find someone to take over. Ask whether the price and closing date stay as written. Whether an assignment is allowed depends on your contract and state law.
Who pays the assignment fee?
An assignment fee is usually a matter between the original buyer and the party taking over the contract, but your agreement is what controls, so check that no line passes an assignment charge to you.
What happens if there is no assignment clause?
It depends on the contract's wording and your state's law, so ask an attorney. If the contract is silent or says it can't be assigned, ask the buyer in writing whether it plans to close in its own name.
Can I cancel a cash offer after signing?
Not necessarily. Your rights depend on the contract and your state, which is why reading first matters. Some states add a cancellation right for certain deals, as Connecticut does for wholesaling contracts, but don't assume yours does.
Should a lawyer review my purchase agreement?
It is a good idea. At Eagle we encourage sellers to have their own attorney review the agreement and to compare offers. We aren't attorneys, so we can't tell you what a clause means for your situation.
