Identifying cash buyers

Identifying cash buyers

Member since 2026 · 2 posts · 2 votes

I am selling a house through probate and I receive various requests from interested buyers. However, these seem to be hit or miss. How do I send out a notice to Seattle area buyers with a brief description of the property and the terms I am looking for? For example, I am not looking for a wholesaler, who is simply going to buy my property and immediately turn around and re-sell it at a profit? I would prefer to have this profit end up in my pocket rather that theirs. I would welcome offers from principals that are interested in renovating the property themselves. The offer should therefore come from the principal, preferably not 'an/or assigns'. I understand the value of creating an LLC for a specific property, but if this is the case I would expect written assurance within the purchase agreement confirming that the principal will retain at least a 51% position in the new LLC. I also expect a bona fide proof-of-funds, and an earnest money deposit that indicates a real interest in closing the deal. Finally, a short inspection window and quick closing. I understand this is expected for bona fide offers, but maybe I am living in a dream world. Comments?

1Reply
265 views

Most Popular Reply

Scott AlfanoBusiness Member
Lender · Seattle, WA · Member since 2013 · 65 posts · 22 votes
3d

To ask a stupid question, have you considered actually getting it listed to get top dollar? I know you mentioned probate, but if done efficiently with an agent that understands the probate process, you should still be able to get it on the market and have a "normal" bid/closing period.

Signed and Funded - Scott Alfano
See this reply in the discussion

6 Replies

Jump to latestLatest
  • Scott AlfanoBusiness Member
    Lender · Seattle, WA · Member since 2013 · 65 posts · 22 votes
    3d

    To ask a stupid question, have you considered actually getting it listed to get top dollar? I know you mentioned probate, but if done efficiently with an agent that understands the probate process, you should still be able to get it on the market and have a "normal" bid/closing period.

    Signed and Funded - Scott Alfano
  • Divin KanyamaBusiness Member
    Accountant · Seattle, WA · Member since 2025 · 371 posts · 144 votes
    3d

    @Edward Gallaher You are not living in a dream world—those are reasonable terms if they are clearly stated. Being in the Seattle area, I would market the property through a probate-experienced broker, the MLS, and reputable local investor groups, with a brief property description, access instructions, offer deadline, and preference for principals who plan to renovate the property themselves.

    Requiring verified proof of funds, meaningful earnest money, a short inspection period, and a quick closing is fair. You can also require disclosure of the buyer's controlling principals and seller approval of any assignment. A property-specific LLC can be legitimate, so verifying who controls it may be more practical than requiring a continuing 51% ownership interest.

    Your best protection against leaving money on the table is competitive exposure: obtain a reliable valuation, invite multiple offers, and compare net price with certainty of closing. Since this is a probate sale, have a Washington probate attorney or experienced broker review the process and contract language. Just a practical perspective, not legal advice.

  • Sean SmithBusiness Member
    Real Estate Agent · Seattle, WA · Member since 2020 · 164 posts · 105 votes
    3d

    @Edward Gallaher If you're looking to sell the property in probate there a few things to keep in mind.

    1. Even if you want to accept an offer, you may still need a court confirmation hearing where other buyers can submit bids. This depends on the type of authority the personal representative holds. Confirm this first before anything else.

    2. If you want to sell to investors off-market (which is good if you need to sell fast, or with minimal hassle) expect very low offer prices. Wholesalers, principals, doesn't matter. Investors are looking for 70% of after repair value minus repairs at best in this market. Most are targeting even lower due to the softening resale market.

    3. You might find yourself with a higher net take-home simply having an agent/broker help you get it tidied up and listed on the open market (even if its dated or needs repairs).

    Only question I have is why aren't you holding it?

    Happy to provide some perspective on whether fixing up and selling, selling as-is, or renting is the better option. Hit my DMs anytime

    Fellow Real Estate Services537 Reviews
    • Member since 2026 · 2 posts · 2 votes
      3d

      Thanks all for the comments (and more welcome). To clarify - we have the probate issues in order with probate attorney, all papers filed with the court, etc. Ready to sell with clear title and no mortgage.. We are also considering listing on MLS, but my question is largely aimed at the advantages/disadvantages of avoiding 8%-9% selling costs going that route. I see how hard agents work, and don't begrudge them their compensation, but to what extent is it possible to sell to an investor and avoid this. We have an agent that will handle the details for 1% (and obviously no buyer's commission), with the advantage of leaving the property as is rather than cleaning, repairing, staging, etc. We don't really care whether it goes to a wholesaler or principal, as long as the funds get deposited in our account in a reasonable time,. I read horror stories of wholesalers tying up the property and then low-balling even further while they are attempting to re-sell it. How do we attract, and/or identify valid offers that will actually lead to a rapid closure without a lot of further games? From everything I read, yellow flags include as/or assigns, low earnest money, and missing proof-of-sales with the initial offer. None of these by themselves are necessarily deal-killers, but taken together they seem pretty flakey. Another question asked why not keep it? We live out of state. This is a family home that is too large for us right now, and we don't have the resources to upgrade, repair, maintain, etc. Time to move on.

    • Sean SmithBusiness Member
      Real Estate Agent · Seattle, WA · Member since 2020 · 164 posts · 105 votes
      2d

      Wholesalers often use assignability clauses, but so do principals who want to close in the name of an LLC. Wholesalers will also sometimes do what's called a double-close where they essentially wholesale the deal to someone else by opening two escrows at the same time - one with you and one with an end-buyer - no assignability clauses.

      Regardless, whether wholesaler or investor they're going to be looking for a massive discount.

      In my experience I've found that listing on the open market tidied up (meaning a trash-out, light clean, and maybe some paint but not always) 100% of the time gets a higher offer than selling to a one-off wholesaler or investor off market. And working with an agent who knows the market, especially when selling a property that needs some repairs, is a surefire way to put more money in your pocket even after fees, vs. risking it selling it to a wholesaler/investor who won't be paying top value.

      All that to say, I'd be happy to take a look at the property and see if any of my investors would want to take a stab at it if you're set on selling it off-market.

      Fellow Real Estate Services537 Reviews
  • Investor · Syracuse, NY · Member since 2010 · 166 posts · 76 votes
    3d

    Sounds like the details are in line and you are ready to list. Just get it listed with an agent and sell the house. Problem solved.

Join the conversationCreate a free account to reply, vote on answers and follow this thread.