An all-cash offer for your home can be a dream. A streamlined sale without the lender’s strings attached can take a lot of the stress out of selling your home. That said, cash offers can come with red flags you shouldn’t ignore.
“3 Things You Should Consider Before Selling Your House for Cash,” offers some clutch advice for recognizing when an all-cash offer might just be too good to be true. Scammers are out there, and there are many sophisticated ways faux-buyers can do a lot of financial damage.
Here are three warning signs you’ll want to keep in mind:
1. The buyer/investor is foreign.
2. All communication comes via email.
3. The investor doesn’t negotiate.
You’ll want to be sure you Google the investor, consider hiring a lawyer to handle the process, and check references.
There is no shortage of real estate scams large and small out there. While a cash offer out of the blue may make your heart sing, be smart and protect yourself.
