Hi Everyone! Today we are going to inform you, or rather, warn you of the top 5 things bad cash buyers might do, and there are many. I am Emily with Trusted House Buyers and thank you for tuning in today!
Cash buyers seem like a great option when you are trying to sell your home fast and hassle free. However, more companies, than not, present a different reality than what they can deliver. Let’s dive into what cash buyers in San Diego might do. Buckle up!
The first bad thing that a cash buyer may do is offer significantly below market value: Bad cash buyers in San Diego may try to take advantage of sellers who are in a hurry or in a vulnerable situation by making extremely lowball offers that are well below the fair market value of the property. This can result in the seller receiving much less than what their property is worth. A seasoned cash buyer professional, like Trusted House Buyers are completely upfront and honest with the offer we present and why we got to that $. We want our sellers to feel good about the offer, not like they are being blindsided.
Next, a bad cash buyer cannot provide proof of funds: Cash buyers are expected to provide proof of funds to demonstrate that they have the necessary funds available to complete the purchase. However, bad cash buyers may not be transparent about their financial capabilities and may fail to provide legitimate proof of funds, which could raise concerns about their ability to close the deal. Many times, you are able to get through the initial steps of selling your home with a cash buyer like this, only to be stopped in your tracks when you realize they do not have the cash to back up their offer.
One of the more frustrating things a bad cash buyer in San Diego may do, is to backtrack on agreed-upon terms: Bad cash buyers may initially agree to certain terms or conditions during the negotiation process but later change their mind or try to renegotiate the terms after the seller has accepted their offer. This can create uncertainty and delays in the sale process, and may result in a less favorable outcome for the seller. At Trusted House Buyers, what we say we are going to do, we do. This simple statement does not hold true for other cash buyers in our area.
Another thing that a bad cash buyer may do is or rather not do, is that they don’t perform proper due diligence: Cash buyers are expected to conduct their due diligence, such as inspections, title searches, and other necessary investigations, to ensure the property is in the condition they expect. Bad cash buyers may neglect or skip these essential steps, which could lead to issues and disputes after the sale.
Lastly, a bad cash buyer unfortunately may engage in unethical or illegal practices: There are cash buyers in San Diego who may engage in unethical or illegal practices, such as pressuring or misleading sellers, using fraudulent documents, or engaging in other shady practices to gain an unfair advantage. This can result in legal complications, financial losses, and a stressful experience for the seller. There are definitely companies in San Diego who will give a higher offer to simply get the deal under contract, only to pull back from that offer when you feel the deal is about to close. This can cause more frustration in an already high-stress situation.
Here’s the lesson we have learned from today’s video : it’s important for sellers to carefully vet potential cash buyers, verify their credentials, and work with reputable professionals, such as real estate agents or attorneys, to protect their interests and ensure a smooth and fair transaction. At Trusted House Buyers, we understand that sellers have many options when making a direct sale to a cash buyer. We have a proven, professional track record here in San Diego of being a family-owned, trustworthy, reputable, and fair company that can help sellers exit their homes in a streamlined and stress-free process. For more information on how Trusted House Buyers can help you avoid the things that bad cash buyers may do, give us a call at 619-786-0973. Thanks for watching!