Do an online search.
Your first step should be to do an online search. Visit a cash buyer’s website and review their background. Look at properties they’ve purchased in the past and if they seem reputable, schedule an appointment to meet them in person.
During the appointment, ask questions to find out why they decided to become a home cash buyer, obtain a list of recent properties they’ve purchased, and compare them to other local cash buyers. It also wouldn’t hurt to learn about their cash buying process.
Check their accreditation.
One way to ensure the cash buyer is legitimate is to see if they are accredited by the Better Business Bureau. You could also check to see if they are actively involved in the local business community. Find out how long they’ve been purchasing property in your area and what their track record with sellers looks like.
Read seller reviews.
Reviews are a great way to learn about a company’s business practices. Look over reviews to find out how the cash buyer treats their employees, partners, and home sellers.
Decide if you can trust them.
Look for a cash buyer who will be sensitive to your needs and will do their best to make the process seamless and stress-free. You should feel comfortable discussing with them important details about your home, such as whether the home has serious problems that need attention, such as a broken air conditioner, water damage, or an outdated electrical system that needs to be upgraded.
Look out for scammers.
A scammer is typically unavailable for a phone conversation. This is either because they don’t live in the U.S. or because they don’t have time to chat with every home seller they’re looking to scam. They’ll begin by asking you to contact an attorney on their behalf. But once you’ve shared personal financial information, they’ll ghost you and you’ll realize that they were not a legitimate cash buyer.
A serious investor, on the other hand, will happily provide you with a list of references, including contact information for people they’ve recently bought houses from. Carefully review courthouse records to see if they actually purchased the properties on their list.
Why You Should Consider a Cash Buyer
- Don’t want to pay realtor’s fees and commissions.
- Don’t have time to wait for a buyer to secure financing.
- Don’t have time to make repairs or renovations.
- Can’t afford to make your home market ready with expensive upgrades.
- Don’t have time to clean your home to make it look spotless for potential non-cash buyers.
- Don’t want strangers looking through your home during showings or open houses.
- Don’t want to deal with buyers’ demands for repairs and renovations.
- Don’t want or have time for an inspection.
- Want to sell your home as-is.
- Want to sell and move fast.