PART 1
1. There should be NO CHARGES TO YOU when someone buys your home for cash
2. This means ANY AND ALL closing costs, commissions and fees should be paid by the cash buyer and no one else
3. NEVER pay an “application fee” to get a cash offer. That’s always a scam
4. NEVER pay any fees at all up front to a cash buyer. Legitimate cash buyers ALWAYS make their money at the END of the deal, not the beginning
5. If you’re in foreclosure, don’t let the cash buyer stall you until you’re desperate. Find another buyer if they are stalling their offer or the closing date
6. Take the time to check to see if they have Google reviews and also consult the Better Business Bureau and other online reporting agencies.
7. Cash offers will always be lower than the retail value of your home (significantly lower in certain circumstances), this is a
PART 2
part of how selling your home for cash works. You’re offering your equity in trade for a fast close. If you’re not in a hurry, YOU SHOULD NOT SELL FOR CASH. Take your time, hire an agent and be patient. Many people will be offering you less for your house than it’s worth. You have to decide what’s best for you. It’s not always bad to take the deal, it’s not always good to reject it. Houses are like any other item for sale: the quicker you want to move it, the more of a discount you’ll need to consider. Think it through and decide what’s best for your individual circumstance
8. DO NOT be pressured to sign anything quickly.
9. Be very wary of anyone that tells you to stop making payments to your mortgage company, insist on up front payments or only accept payments via cashier’s checks or wire transfers
10. Read what you are signing before you sign
