Most people assume selling a house takes months. In Memphis, the average home sale — listed with an agent, financed buyer, full process — takes 45 to 90 days from contract to close. Sometimes longer.
Spencer Buys Houses closes in 7 days.
Not as a marketing promise. As a documented track record. And if you've ever been on the other end of a drawn-out sale — waiting on an appraisal, holding your breath through a buyer's financing, rescheduling closing for the third time — you know exactly why that difference matters.
This is how it works.
The Real Story Behind a 7-Day Close
In 2024, a landlord in Florida found Spencer Shadrach on Facebook. His tenant had just moved out of a brick home on Churchill Avenue in Memphis — and left it rough. Trash everywhere. Bathrooms destroyed. The landlord had three offers in hand.
He messaged Spencer on a Friday.
Spencer put down earnest money the same day and said four words: I'll close next Friday.
The other offers were higher. But they couldn't close for 30 days. The landlord chose Spencer — not because of price, but because of certainty.
The following Friday, a mobile notary went to the landlord's home in Florida. He signed the papers from his living room. The deal was done. He never got on a plane.
The word he used afterward: relieved.
Why Traditional Sales Take 45–90 Days (And Where They Break Down)
To understand why 7 days is possible, you need to understand why the traditional process takes so long — and where it falls apart.
Week 1–2: Prep and listing
Before a house even hits the market, most agents recommend repairs, cleaning, staging, and professional photography. For a house that needs work, this alone can take weeks — and cost money the seller may not have.
Week 2–4: Showings and offers
Once listed, you're waiting for buyers. If inventory is low and the house shows well, offers can come fast. But the average Memphis home sits on the market 30–45 days before an accepted offer.
Week 4–6: Inspection and negotiation
A financed buyer will hire an inspector. Inspectors find things. Then there's a negotiation — repair credits, price reductions, contingencies. This is where a lot of deals die or fall back significantly from the original offer.
Week 6–8: Appraisal
The buyer's lender orders an appraisal. If the appraisal comes in below the contract price, you're renegotiating again — or the deal falls apart entirely.
Week 8–10: Financing approval and clear-to-close
Even after everything checks out, the lender has to issue a final approval. Underwriting takes time. Employment verifications. Bank statements. Documentation requests. Any hiccup here — a job change, a credit inquiry — can delay or kill the deal at the last moment.
Week 10+: Closing
If you make it through all of that, you close. If you don't — you start over.
That's the traditional process on a good run. On a bad run, it's longer.
Why Cash Buyers Close in 7 Days
When Spencer Buys Houses makes an offer, here's what's different:
No financing contingency.
Cash is cash. There's no lender, no appraisal, no underwriting. The moment both parties sign a contract, the money exists. There's no third party who can say no.
No inspection contingency.
Spencer buys houses as-is. There's no inspector generating a repair list. There's no negotiation after the walkthrough. What you see is what gets contracted. The offer already accounts for the condition.
Title company relationships.
Speed at closing comes down to the title company. Spencer works with the same title partners on every deal — teams that know the process, know the documentation, and can move fast when asked. A 7-day close isn't magic. It's a relationship that's been built over hundreds of transactions.
No listing, no showings, no prep.
You don't clean the house. You don't move furniture around for a photographer. You don't leave for two hours every time a buyer wants to walk through. You get one offer. You decide. That's it.
Mobile notaries and remote closing.
If you can't make it to the title office — or if you live out of state, like the landlord in Florida — a mobile notary comes to you. The paperwork gets signed wherever you are. The wire transfers. It's over.
What 7 Days Actually Means for a Memphis Seller
Here's the math that most sellers don't think about until they're in the middle of it.
Carrying a vacant house for 60 days in Memphis costs real money:
- Property taxes: ~$100–150/month
- Homeowner's insurance: ~$100–200/month
- Utilities (keeping it on): ~$100–150/month
- Lawn maintenance: ~$50–100/month
- Total: $350–600/month minimum
Over 60 days, that's $700–1,200 out of pocket just to wait.
Add the emotional cost — the phone calls, the updates, the "we're still waiting on the lender" — and the picture gets clearer. A lower cash offer that closes in 7 days is often worth more, in real terms, than a higher listed price that takes three months and might fall through.
The Churchill Deal, By the Numbers
5079 Churchill Avenue. Memphis, TN 38118.
- Found: Facebook message on a Friday
- Offer accepted: Same day
- Earnest money posted: Same day
- Closing: The following Friday
- Total days from first contact to close: 7
- Seller location at closing: Florida — never left home
- Repairs required of seller: Zero
The house needed work. Spencer handled it after closing — paint throughout, two new bathrooms. The seller got certainty. The house got restored. Someone in Memphis has a home they couldn't have otherwise.
That's the model.
Is a 7-Day Close Right for You?
Not every seller needs to close in 7 days. If you have time, your house is in great shape, and the market is moving — listing traditionally might net you more money.
But if any of these are true, a fast cash close is worth a serious look:
- Your house needs repairs you can't afford or don't want to manage
- You're dealing with a tenant situation, estate, or divorce
- You're behind on taxes or payments and need to move quickly
- You own the property out of state and managing it from a distance isn't working
- You've been through a failed sale and you're done with the traditional process
- You just want it to be over
Spencer Shadrach has been buying houses in Memphis for over 10 years. More than 600 transactions. Every one of them closed.
If you want to know what your house is worth and how fast it could close — the conversation is free.
Call or text: 901-979-9848
Online: SpencerBuysHouses.com
FAQ
How fast can you actually close on a house in Memphis?
With a cash buyer like Spencer Buys Houses, closing in 7 days is possible. The typical timeline is 7–14 days from accepted offer to closing, depending on title work.
Do I need to make repairs before selling?
No. Spencer buys houses as-is. The offer accounts for the condition of the property. You don't need to fix anything.
What if I live out of state?
Not a problem. Mobile notaries can come to you wherever you are, and wire transfers handle the money electronically. The Florida landlord in the Churchill deal never left his living room.
Is a cash offer always lower than a listed price?
Not necessarily in net terms. When you factor in agent commissions (5–6%), repair costs, carrying costs during the listing period, and the risk of a deal falling through, a cash offer often competes favorably with the net proceeds from a traditional sale.
How do I get started?
Call or text 901-979-9848 or visit SpencerBuysHouses.com. Spencer will schedule a walkthrough and have an offer within 24 hours.
Spencer Shadrach is a Memphis-based real estate investor and founder of Spencer Buys Houses. He has completed over 600 transactions in the Memphis market over the past decade.