What changes without a mortgage
A cash purchase skips loan underwriting, the appraisal contingency tied to a lender, and the weeks of processing time a mortgage typically requires. What stays the same: due diligence, inspections, title work, and the closing attorney, all of which still apply regardless of financing.
Proof of funds, not a pre-approval
Instead of a lender pre-approval letter, a cash buyer provides proof of funds, typically a bank or investment account statement showing sufficient liquid funds to cover the purchase. Sellers and their agents will ask for this before taking a cash offer seriously, just as they'd want a pre-approval from a financed buyer.
Should you still get an inspection?
Yes, and skipping it to move faster is one of the more common regrets in a fast cash purchase. Without a lender requiring an appraisal or inspection, it's entirely on you to verify the home's condition, so building that step into your timeline protects you even when nobody else is requiring it.
How long a cash closing actually takes
Without loan underwriting in the mix, a cash closing can happen in as little as one to two weeks, largely limited by title work and how quickly due diligence items get resolved rather than by financing timelines.
If you're weighing cash against financing more broadly, how long it actually takes to buy a house compares the full timeline for both paths.