From selling your home as-is, quick closing time, little or no complications, and convenience to cost savings-the benefits of selling a house to a cash buyer are worthwhile. However, this does not mean you should not do your due diligence first. Read on to learn four top investigative questions you should ask to ensure you sell your home to a reputable and trustworthy cash buyer.
How long have you been buying houses in Arizona?
It can be tempting to sell to the first cash buyer who comes your way, especially when it is taking a long time to sell your home. However, it is prudent to take time to know who you will be working with to protect your interests.
Consider working with an Arizona-based cash buyer with a proven successful track record. A buyer familiar with your community will likely work as fast as you want and have your best interests in mind. Before accepting a cash offer, we recommend that you establish:
- Whether or not the cash buyer is local to Arizona
- How many years they have been buying houses in the community
- The number of homes they have successfully bought
Are you the end buyer?
Most cash-buying companies are intermediaries. They are often buying on behalf of the buyer. Be sure to determine who the end buyer is to avoid issues with the sale later. Take time to speak with the cash buying company to familiarize yourself with their buying process in-depth if you establish that the company is the middleman. You could even ask to talk to the end buyer directly to clear any doubts. When selling a house to a private cash buyer, hire a lawyer to help you draw contracts to make sure they are legally binding to ensure an incident-free home sale.
Can you provide immediate proof of funds?
The best way to eliminate shady investors is by requesting proof of funds. Most investors often do not have adequate funds to purchase a property. They constantly push you to sign the contract to grant them an equitable title and then turn around to find legitimate home cash buyers, delaying the closing.
When a shady investor does not find funding, they will walk away from the sale and leave you in the lurch, so ensure that you ask for proof of funds before signing the contract. Stay away from cash buyers who refuse to provide proof of funds or cannot show it immediately.
Do you have customer reviews you could share?
Give yourself peace of mind that you are dealing with an honest home cash buyer by checking reviews from previous clients. A legitimate company should provide a list or link to their previous customer reviews. Other places you could check independent reviews include:
- Better Business Bureau
Work with a cash buyer with many positive reviews as it shows they are honest and trustworthy. It also reduces the chances of unpleasant experiences or surprise expenses.
We can help you answer your questions
At Oak Street Properties, LLC, we buy homes for cash in Arizona. We close the sale fast or according to your preferred time-frame and buy the house in any condition- no upgrades or repairs required! If you want to sell a house to a cash buyer, contact us today and let us answer all your questions.