I thought cash buyers were all scammers until one actually closed in 5 days

For years I avoided cash offers on my listings. Had a bad experience in 2018 where a "cash buyer" wasted 3 weeks then backed out. But last month a guy from a local investment group in Tacoma offered cash on a fixer I had sitting for 60 days. I was ready to tell him to kick rocks but my broker said give it a chance. He provided proof of funds that day, did inspection in 2 days, closed in 5. No appraisal, no loan drama, no nada. I ate my words hard on that one. Anyone else had a cash buyer actually come through smooth like that?

2 comments

2 Comments

sethmartinez21d ago

Started working with a cash buyer last year on a rental property I was flipping. Dude showed up with a binder full of docs and a checkbook. I figured it was gonna be another waste of time but he had a notary with him at the first meeting. We closed in 3 days and he even let me stay in the house for a week after while I finished packing my tools. Now I always at least let them show proof of funds before I write em off completely. That 2018 thing still stings though, makes you gun shy.

harperschmidt20d ago

Yeah proof of funds upfront is the only way I'll even talk to a cash buyer now.