Cliff Clover, P.A. Clover Group - EXP Realty, LLC

4 Ways to Tell Real Cash Buyers from Scammers

Dated: March 24 2022

Views: 76

When selling a house for cash, you're looking for the best offer available. And when you find a reasonable offer, you want to get your hands on it as quickly as possible. But with the many cash offer scams out there, you’ve got every reason to be cautious. So here’s how you can tell if someone is a genuine cash buyer.

1. They'll Have Proof of Funds Ready

A genuine cash buyer will be able to provide bank statements or a letter from their financial institution confirming that they have the funds available.

2. They'll Be Able to Answer Your Questions

A real cash buyer will be able to answer any questions you have about their offer and their ability to close the deal. They should also be able to provide you with references from other sellers they've worked with in the past.

3. They'll Be Willing to Put It in Writing

To ensure maximum transparency in the deal, a genuine cash buyer will not hesitate to put his offer in writing. This written offer should include an earnest money deposit, a purchase price, and a time frame for closing the deal.

4. They Don’t Ask For Upfront Fees

Scammers will usually request some upfront fees for one reason or the other, but in traditional real estate deals, no cash is exchanged upfront. It’s also fairly common to see scammers send a cheque way over the asking price and ask for a refund claiming they overpaid; however, the check never clears, and the homeowner is left devastated.

Looking For a Trusted Realtor in Florida?

It’s always best to work with an experienced realtor when looking to purchase a property in Florida. And if you decide on going it alone, it's always best to err on the side of caution and walk away from a deal when anything looks shady. If you want to find reliable cash buyers for your Florida property, contact us at (321) 229-5890. We have a network of investors waiting for you!

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