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What to know about cash offers for homes

On Behalf of | Feb 25, 2019 | Residential Real Estate |

Individuals in California and throughout the country who are looking to sell their homes may be able to receive cash offers. In some cases, the closing process is easier, and it may be less expensive to complete the transaction without the need for a real estate agent. However, there are some issues that a property owner should consider prior to accepting a cash offer from a prospective buyer.

It is important that a property owner be able to meet with a potential buyer in person. Those who aren’t available to talk or only communicate by email could be scammers. Another red flag is a person who claims to be from a foreign country who is moving for work or some other purpose and wants to buy a property without seeing it first. If a buyer doesn’t seem interested in negotiating, that could be a sign that something isn’t right.

Generally speaking, an investor will want to pay as little as possible for a home. A proposed asking price will account for repairs and other costs related to flipping the home for a profit in the future. Furthermore, most legitimate investors will want to inspect the home personally. Therefore, anyone who doesn’t seem interested in an inspection may not be legitimate.

Those who are in the process of selling their home may want to have real estate agreements reviewed by their attorney. This may be ideal regardless of whether a person is selling with the help of a real estate agent. Having an attorney review the deal may improve the odds that it is in a seller’s best interest.