Approached by a Cash Buyer? What you Need to Know

If you’ve been contacted by a local or out of state home buyer with an offer for cash for your home, there’s something you need to be aware of. Often, these buyers will attempt to get you to sign a purchasing agreement before they’ve even looked at your property. There are two main reasons they may choose to do this, but the result will almost always be disappointment and frustration on your end.

Why They Do This

Purchase agreements are an important step in the sales process, but if a cash buyer asks you to sign one before they’ve seen your property, they may be trying to pull the wool over your eyes. Unfortunately, many cash buyers will conduct an inspection after you’ve already signed on with them, and then use what they find as a negotiating tool. You’re in a far better bargaining position if you let buyers inspect your home first before signing a purchase agreement, since it’s easier for you to seek another offer if you feel like you are being lowballed.

Perhaps worse than cash buyers who use this tactic as a bargaining strategy are the inexperienced buyers who simply don’t know how to assess a property for cash sale. These newcomers might enthusiastically lead you into signing a purchase agreement, only for the sale to go nowhere. You see, many of those new to the business rely on outside lenders to actually provide the money for the sale, which is where reality comes knocking. These lenders will conduct their own inspection of the home, and if they don’t like what they see, deals can simply fall apart.

Why We Don’t

Unlike these other buyers, we know our business and have no interest in tricks. We always look over a property before offering a purchase agreement, that way we can give you an honest offer, without wasting your time. So what should you expect

Unlike traditional home inspection you may expect from a homebuyer, we’re only interested in the big picture, such as the foundations of the house, if the yard needs landscaping, or whether or not the air conditioning works. No need to sweat the small stuff. If you’re considering selling your home to a cash buyer, give us a call, we’d be happy to take a look at your property!

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