How to find the CASH sales only, MLS and off market sold Comps

Question

Hello Everyone!

How do I find CASH comparable Sold properties in the last 90 days? MLS and off market sold comps.

When I put terms: Cash only on the MLS, it just shows me the listings that include Conventional, VA, FHA, Cash Only.... it shows me the term 'cash only', but doesn't give me what I'm looking for, which the the comps that were really bought cash from investors, not that the term was accepted in the listing.

Need to find out how much are investors buying properties cash in my area, Broward county, FL. and wonder if you can point me in the right direction. Thanks!

Carlos Florez · Answer

@Kevin Sobilo thank you, i will look into it some more.  Thanks

Kevin Sobilo · Answer

@Carlos Florez, my MLS used FlexMLS. So, I'm not familiar with the software your MLS uses. I'm sure someone from your office can help you find the information on these closed listings.

Often times you are only seeing a "view" or "report"  of the information available on a listings, not every single data item available. So, you might need to change the view or report in order to see more information about the closed listing.

I'm sure it is there. An appraiser would need this type of info. For example if a sale had $5k in seller assist towards closing costs an appraiser would want to adjust for that because the seller received a net amount that is less than the sale indicated. So, that kind of information is in your MLS database I'm sure.

Carlos Florez · Answer

@Kevin Sobilo Thanks foe your answer, very appreciated.

I am an agent, i have access to MLS, and core logic products, Matrix, Realist, Imap, etc. When I look into matrix, it says the closed sold price $$$ amount, but it doesn't say if it was cash or financed. If I search based on terms, "Cash only" it would show the the listing that includes "Cash Only" but some of those listings also include "Conventional Financing" or "FHA" so its hard to know how the buyer paid for it.

When another realtor lists a property for sale, the realtor chooses the terms, cash, cash only, conventional, VA or FHA, it means it can accept all those but the buyer could buy using any of them after it closes, the sold comp doesn't say if it was cash or financed. At the end I wouldn't know if it was cash only which is what I'm interested in. When I look into Imap, there I can if a sold comp was done through realtors, and also doesn't have the link for the financing bank, therefore I can assume it was financed. But I don't like assuming, I want to know for real if it was closed through CASH ONLY!

If you or another realtor can show me the correct way to find only cash only comps, I would really appreciate it.

Kevin Sobilo · Answer

@Carlos Florez, your real estate agent can probably help with that. In my MLS, there is information entered when a sale are completed when a property sells that include sale price, financing method, and concession amounts. Only the sale price typically shows up on any public interfaces to the MLS, but agents can see and probably search for these fields.