There have been a lot of fly-by-night companies as well as several major internet companies offering their services to buy your property... Right now... For cash. Offers are coming in your mail, email, texts; it's SO easy and the cash will be in hand soon, am I right? Seems too good to be true, doesn’t it? That's because it is.
Beware Of The "Cash Sale" Buyer: A Guest Editorial by Aaron Weinzapfel
These offerers are hoping for you to buckle under the perceived pain of actually having to list your home. These companies want you to leave all your money on their table. These companies like advertise key phrases such as: easy, same day, “AS IS”, in any condition, no inspections, no Realtor fees... But that is because they know that a REALTOR® will give you the true story about what your home is worth; that a REALTOR® has the knowledge and the experience in your market as opposed to someone whom is collecting website data from anywhere USA and spreading it around willy nilly; they know that a REALTOR® follows a Code of Ethics to which they are bound, not only by the stringent state regulations (which these fly by nighters certainly don’t have to abide by), but by their own strength as an organization holding each other to the highest of standards.
These CASH FOR SALE buyers are counting on you selling for a low enough amount that they can make a quick and easy buck. This business model cannot possibly work for them if they are not fleecing you of your hard-earned equity. A REALTOR® can evaluate your property correctly and accurately, strategically market your property to the right buyers, and in almost all cases justify their commissions based on the honest work done while still giving you a higher yield than if you had gone with the “buy for cash” style companies.
Buyer beware. If not you, maybe your parents? The elderly are a major target in this sort of scam. Please! It costs you nothing: sit sown with a Real Estate Professional before succumbing to these schemes.
Written by Aaron Weinzapfel
Broker Associate / REALTOR®, with Equity Colorado Real Estate
July 21st, 2020