This is a post to inform our readers of who buys houses in our area. First off, their are 3 primary types of buyers, there are retail buyers who are looking to buy your house to live in and usually purchase a move in ready home that is listed with a realtor. The second buyer type is real estate investors. These buyers are purchasing to either fix and resell the house or hold and rent the house out after purchase. (LIKE US, we fall under the property investor category)
Then there are wholesalers. This is a newer category of "Home Buyers" and also the type of "Home buying business" you will see most often. A wholesaler is a "real estate investor" that makes an offer on your house in attempt to tie the house up in contract, to then turn around and try to find an end buyer (LIKE US) to then pay more for the house prior to closing. There part in the deal is profiting from the difference of what they offer the seller and what the end buyer is purchasing for as a "fee". The biggest thing we want our sellers to understand, is when selling to a wholesaler, they may offer you more than what an end buyer is willing to pay for your house, or they may fail to find a buyer at all. This would result in your house falling out of contract and you are back at square one.
So, this post is to equip our readers with a tool to help you find a real house buyer! This tool is to help make sure the company that made you an offer is a legitimate company and one with at least the ABILITIY to actually close on your house. The tool!? Ask for proof of funds from the buyer! This will give you much greater odds that the "Home buyer" will complete the transaction of buying your house if they are able to provide a proof of funds document for you! This is especially true for all those "home buyers" making CASH OFFERS for your house!
We hope this one important tool will help you in choosing a real home buyer that will really buy your house!
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