What Should One Look for in a Cash Home Buyer?
The first thing you should consider is the contract they offer you. Does it have a 30 or 60 day closing? If it does, this probably means that they are just trying to buy time to find financing and will back out if they do not find another investor or a bank to give them cash. We want to close in no more than 2 weeks, but will close later if the seller asks us to because of moving or tenant issues.
The second thing to look at when selling your home to an investor is the inspection period. Some buyers want an inspection period of up to 60 days. This is not good for you as the homeowner. If you have planned everything out and then the buyer backs out after 59 days you are left out to dry. We have no inspection period and no inspection contingencies.
Next is your gut feeling. Does the person you are negotiating with seem trustworthy to you? Many times I will tell sellers that we are not the best option for selling their home. Will we buy it? Yes, If you want us to buy your house for cash we will buy it so fast you surely will be impressed, but I will often tell customers to try and sell first on their own and call us back if things do not work out.