Selling your house is an important life decision. House Heroes strives to educate homeowners on selecting legitimate, trustworthy, and verifiable cash home buyers. “Cash home buyers” are supposed to buy your house fast for cash. Unfortunately, most “cash home buyers” are neither honest nor ethical. They lack the cash, skill, and experience to help you.
We’ve observed a trend among alleged “cash buyers.” South Florida’s pretend “cash buyers” are luring homeowners to enter a contract for unreasonably high prices, keeping them under contract for multiple months, meanwhile they secretly search for someone else to actually buy the property, only to back out at the last minute when they can’t find a real cash buyer.
Please protect yourself from wasted time, deception, and fraud by asking potential home buyers the following questions:
- Can you show me proof of funds? “Cash buyers” often have no cash at all. They claim to have cash, but in reality, wait for you to sign the contract and then go find someone to buy the house. Request a bank statement – not a “letter of credit” that anyone can get from a lender.
- Do you have video testimonials from satisfied home seller clients? Video testimonials demonstrate a home buyer is legitimate and cares about their clients. You are “rolling the dice” on trusting a cash buyer if you can’t see a video testimonial.
- Will you lower your offer at the end of the “inspection period”? Beware of “Bait and Switch”: investors tell you the price you want to hear, but never intend to pay. They have you sign the contract, but at the end of inspection, threaten to cancel if you don’t accept a low price. Offer re-negotiation can be legitimate if based on unexpected property issues and quickly after inspection.
- Will you “wholesale” this property? Wholesaling is when an investor claims to be a “cash buyer” but intends to sell their legal right to the contract with you to a third-party without telling you.
- Is your company registered with the State of Florida? Registered companies are legally bound to act in accordance with state rules, regulations, and oversight.\
- Do you buy houses nationally or only in South Florida? National home buying chains do not directly buy houses. They refer the property to local “middle men” who buy the property.
- Do you have a social media presence (i.e. website, blog, Facebook, and Instagram)? Social media and website constitute “social proof” that a business is trustworthy and has nothing to hide. Informative and active blogs demonstrate knowledge and competence.
- Are you a member of real estate investment associations? Membership in local real estate associations is “social proof” that you are working with a professional. Popular local associations include Dade Real Estate Investment Association, Broward Real Estate Investment Association, and Palm Beach Real Estate Investment Association.
For more information or any questions about this questionnaire, please contact our Client Relations Manager, Robin Maza, at 954-676-1864 or firstname.lastname@example.org at any time.