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rm

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Posts: 1
Reply with quote  #1 

Does anyone have experience with cash buyers...

 

I received a purchase contract from a cash buyer who was concerned about me shopping around to see if I could get a better offer.

 

One day after signing the contract with him, the windows of the property that he wants to buy from me were broken.  I suspect that he was involved in the breaking of these windows in order to discourage other offers on the house.

 

Does anyone have experience dealing with cash buyers?  Any advice?

absoluteca

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Posts: 72
Reply with quote  #2 

First, unless you know for certain this cash buyer individual broke your windows, I would disregard the event and not associate it with the cash buyer.  Obviously, if it was him and he was caught, he would be facing pretty serious property damage consequences not to mention risk losing the purchase contract.  Don't ever mention to him you suspect him in any future conversations...in fact, if the opportunity arises, Say it was kids, play it innocent and casually mention the police have been notified and they are on watch for the property because this has never happened before. 

 

Assuming it is the individual, this seems like a scare tactic or undue influence on you that you have the choice to disregard.  You don't have to sell your property to anyone.  Unless you are in a situation that you need to work with this individual to negotiate a higher price on your behalf or take his offer, I would decline the offer (its too low anyway, right), make a phone call to the police about the broken window incident (putting them on notice) and sit back awhile.

 

I have found in my experience (broker in three states) that cash buyers are either very serious about the property or not, they are not in the middle.  He either will go away or come back with a higher offer. 


I don't know if that helps, but that's my experience.   Happy Holidays.


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kurt

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Posts: 137
Reply with quote  #3 

I tend to agree with the moderator.. A cash buyer in a far fetched instance might do such to pressure you into accepting a low bid in thoughts that you own a property in a low income area/ hence possibly bad area and hard to sell.

 

And breaking window charges, some one with money can get out of it face it if OJ can get off... well you figure it out.. In low income areas most people see nothing, hear nothing, and report little(to say the least). That is to say to the moderator get serious big companies break the law daily measuring the risk of geting caught breaking laws versus the cost/fine of geting caught vs the gain till caught.. It's logical, pathetic yes, but logical money making.

 

But despite that last I doubt the cash buyer is going to go so far to make a little extra profit..THen again dead beat tenants break stuff left and right and does the law hold them accountable? Heck no@!#$!$

 

Anyhow go with the idea it wasn't the cash buyer, play it off, as a blue moon until you can prove poop does stick to the moon.That's my advice

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