Investors - Cash For Homes

[Ed L.]

Hi all,

Do any of you have experience working with investors who buy homes for cash? Any tips, advice?

Specifically, any of the following:

- We Buy Ugly Houses

- Cash For Michigan Houses

- Tarek Buys Houses

Thanks!

[Luciano A.]

@Ed L.

I am assuming you are asking from the seller's position. Some of these guys that say we buy houses in cash on yellow signs are not all real cash buyers. Some are wholesalers that want to get your property under contract then flip to a real cash buyer for a higher price.

If you have someone that is offering cash, just ask are you a wholesaler or the end buyer? 

Look at the contract and see if they put assignee after their name or company name?

Have them show proof of funds. And ask for non-refundable earnest money if they cant close. Now it is only non-refundable if they cant close and it is not something wrong with the title or an unexpected find about the condition of the property.

Otherwise, if you like the price you are getting for the house and want to sell then go for it.

Best of Luck