If you get a hassle-free cash offer to buy your home in the mail, here’s what you need to know about that offer.
If you’ve received a letter from someone asking to buy your house hassle-free with just cash, what do you do?
First of all, ask yourself: What are your goals? Oftentimes, a home seller’s primary goal is to sell for as much money as possible. Another common goal is to sell hassle-free. When wholesalers write you a letter inquiring about your intentions to sell, it might look like it’s addressed specifically to you, but in reality, they’ve written similar letters to thousands of other homeowners. If you call back, they’ll know you’re motivated to sell, and their aim is to get the contract as low as possible because they want to take advantage of the fact that you want a hassle-free sale.
Once they get that binding contract, they’ll try to sell it. I’ve seen contracts sell for as much as $100,000, and there’s no risk for them in this situation. Many times, they won’t even abide by the contract and won’t turn in their earnest money deposit until they find someone else to invest their money into the deal. They have no skin in the game. They make money by selling to another wholesaler for less than market value.
The challenge of this type of transaction is that you as the homeowner don’t make as much money for yourself.
There are easier ways to have a hassle-free transaction while netting the most money possible. Realtors have a fiduciary responsibility to make sure our clients make the best decisions for themselves so that they have a smooth transaction and/or sell for the highest price.
If you’re thinking of selling and are interested in how I can help you do this, don’t hesitate to call me. I’d love to speak with you.