A cash buyer is a real estate investor -- either an individual or business entity -- that buys houses in cash. Cash buyers can be particularly attractive to a seller because they are typically able to close the transaction faster and have a lower risk of having the deal fall through because there is no lender involved.
In reality, however, many people tell sellers they are cash buyers but in actuality they are representing other cash buyers. These people are called real estate wholesalers. Real estate wholesalers place sellers under contract by providing cash offers, and then assign their role as Buyer in the contract to another Buyer who purchases the property at the seller's agreed upon terms. Wholesalers are compensated by the buyer they bring into the transaction, typically in the form of an "Assignment Fee". For more on this, read our guide Wholesale Real Estate 101.
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