Selling to a cash buyer can be the fastest, simplest way to sell a house, but only if the buyer can actually close and is honest about the deal. There are good companies and bad ones, and from a postcard or a phone call they can look the same. Here is how to tell them apart.
1. Can you show proof of funds?
A real cash buyer can show a recent bank statement or a letter from their lender or funding source. If the buyer will not show anything, or the paperwork is in a different name from the company on your contract, be careful.
2. Who handles the closing?
The money and the deed should go through a licensed title company or a real estate attorney, never through the buyer alone. You can call the title company yourself and confirm they have the file and the earnest money.
3. Are there any fees for me?
Ask for every cost in writing: commissions, “processing” or “administration” fees, and who pays which closing costs. You should never pay an application fee or anything up front to get an offer.
4. Can the price change later?
Some buyers win the deal with a high number and then lower it after an inspection, when you have stopped talking to anyone else. Ask in writing what could change the price after you sign, and why.
5. Are you buying it, or assigning the contract?
Some buyers do not plan to buy the house at all. They sign a contract with you and then sell that contract to another investor. That can be fine, but you have a right to know, because it can affect whether and when you close. Ask directly, and get the answer in writing.
6. Can I talk to past sellers?
Read reviews from real sellers, not just testimonials on the company’s own site. Look for reviews that mention a specific town or situation, and ask whether you can speak with someone who sold to them recently.
7. What happens if I change my mind?
Read the contract before you sign it, especially what happens to the earnest money, how long the buyer has to inspect, and how either side can cancel. If anything is unclear, have an attorney read it.
Warning signs
- Pressure to sign the same day, or an offer that “expires” in hours
- A price far above every other offer, with vague reasons
- No title company named in the contract
- Requests for money from you, or for your deed before closing
- A contract you were not given time to read
How we answer these questions
At Mercy Property Solutions, also known as Savanna Buys Houses, we are happy to answer every one of these questions, in writing. Closings go through a title company. You pay no fees or commissions, and we cover the normal closing costs. We often bring more than one offer so you can compare, we explain how we got to our numbers, and if we plan to assign the contract to another local investor, we tell you before you sign.
You can read what past sellers in Fort Worth, Burleson, Crowley and Lubbock say on our reviews page.
Want to know what your house would bring as it stands? See how we work, or call or text Savanna at 682-321-9138. There is no obligation, and if selling to us is not your best move, we will tell you what we would do instead.
