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Avoiding Cash Buyer Scams when Selling a Property in South Tampa
Avoiding Cash Buyer Scams when Selling a Property in South Tampa
Peggy wanted to sell her rental property without paying a commission… and wanted to make sure she wasn’t dealing with any cash buyer scams.
First, I’ll explain some of the Cash Buyer Scams that are out there in the real estate marketplace.
Literally anyone… can say anything in real estate. You might get cards in the mail that say ‘we pay cash’ ‘close in 3 days’… yada yada yada… and the only thing that matters is what is actually written in the offer and any contract that is agreed to.
I’m not a lawyer, and I don’t play one on facebook, youtube, or anywhere else on the internets. But, it’s not legal advice to say you need to read the contract and understand what you are agreeing to… and you want to know a little about the buyer you are selling to in terms of how are they going to pay for the property.
Believe me… there are literally classes out there being taught in the real estate investing world where the ‘cash buyer investor’ is only going to put a contract on your property and take legal steps to prevent you from selling to anyone else. Then, and only then, they will try to figure out how they are going to get the money or someone with money to buy the house. This is one of the most popular ‘cash buyer scams’ in the South Tampa market.
It’s wrong… it’s disgusting… there are people that write contracts who literally have no idea how they are going to close on the property.
If you wanted to hire someone to go out and find a buyer… you would list the property with an agent… not work with someone who lied about having cash to purchase your house.
So when Peggy got our postcard, called and got an offer… she explained her skepticism as she had a son-in-law who is a great real estate agent by the way, who is very familiar with these kinds of scams… and she explained that she would have him review the offer and I fully supported that. Don’t let anyone pressure you into signing a contract that you don’t understand or want to be reviewed by a professional.
If you want to review our offers with any relative, an attorney, a real estate professional… we encourage that because we want you to feel comfortable and confident going forward.
Ironically, the agent that Peggy wanted to review the agreement had recently done a deal with me… and was very familiar with the builder who was going to purchase the property and he gave his enthusiastic stamp of approval.
We had offered a fair price and finalized the details… structuring the deal so her tenant had plenty of time to move out.
Once the contract was signed the title company took care of the rest… making sure things like the mortgage was fully paid off at closing… and that was another free service for the seller as the buyer paid for all commissions and closing costs.
What if you’ve already signed a contract and the buyer is seeking delay after delay after delay?
In this video, I share the story of another family ready to sell their property. They offered it at a reasonable price and almost immediately, a buyer comes along with a great offer. Excited, they accepted the offer and set a closing date. Then, as the closing date looms near, the buyer calls and asks for a 30-day extension… and another extension… and yet another extension. By now it’s been three months since the original closing date, and you’re no closer to selling your home.
We helped the seller understand that they weren’t obligated to continue to alow more and more confusion and delay regarding the closing date and provided a backup offer. Finally, they said ‘no more’ to the fake investor who couldn’t perform and then quickly sold their property to one of our trusted builder partners.
Stop Cash Buyer Scams by Selling to One of Our Trusted Builder Partners
If you’re thinking of selling an older home, a rental property, or an inherited property in South Tampa… and you’re worried about cash buyer scams and fake investor scams and want to work with a real buyer who has the cash to close give me a call at 813-784-4199.
Let’s talk about your situation and how I can help you with an unwanted property where you just want a fair price and don’t want to get scammed. If I’m busy helping another family, you can also request your offer online at SouthTampaTeardowns.com
Go from worried about cash buyer scams to being happy at the closing table when you sell your house to a builder with SouthTampaTeardowns.com. A proud member of the South Tampa Chamber of Commerce and Tampa Bay Builder’s Association.
Fair Offers… Fewer Hassles.
SouthTampaTeardowns.com
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