About "Buying Houses for Cash" Companies

Lately, those we buy houses for cash signs are plastered everywhere -- on billboards, direct mail flyers, newspapers, online and, sometimes, you will see them tied around telephone poles or tacked to grocery store bulletin boards.

It's normal to wonder how they work and whether sellers should contact these companies. Some of the signs are hand drawn, making them appear as though it's a single investor who wants to buy a home but, gosh, I guess those investors can't seem to find sellers anywhere!

It's not as though these cash buyers can't look on popular web sites that advertise listings for sale or ask an agent to look in MLS to find them a home to buy, now is it? Of course, not. So, you've got to wonder what the gimmick is and why they would go to such lengths to advertise that they have cash to quickly buy a home.

Let me add that with a conventional buyer who is obtaining financing, it's all cash to the seller at closing. Does it really matter to you if the buyer has the cash in the bank or if the buyer is getting a loan? Only if the buyer doesn't qualify for the loan. But these days, buyers generally obtain a preapproval letter from the lender stating that the buyer is qualified to obtain the financing, so a loan contingency isn't likely to make your transaction blow up or fall apart . . . read more about Buying Houses for Cash.

More Articles by Elizabeth Weintraub, click below:

• Why Isn't My Home Selling?
  
• Alternatives to Home Selling
  
• Selling Defective Homes

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