Bonnie W.
Google
SELLER BEWARE!!! I signed a contract with them while the market was hot, because they said it would be a fast sale. They were able to proceed quickly, because they didn't need to wait for "financing." They tied my property up (due to the contract), and then called me to advise me that they weren't going to buy it because they couldn't get "FINANCING"! To top it off, they didn't even pay the tiny escrow that was called for in the contract!
I spoke to a lawyer and was told;
1) ALWAYS use a FARBAR as your contract in FL
2) ALWAYS use YOUR title agency (not theirs)
3) ALWAYS get a large escrow (5K or more). It would cost more than the tiny escrow to go after them to enforce the contract.
Of course, by the time this had unfolded, the market had cooled due to rising interest rates.
Many of these cash buying companies pay pennies on the dollar (costing you profit) and obtain their funding through sales of your property, other investors or through FINANCING (conventional and non).
There ARE companies out there that will put your property on the MLS for a one time fee (fairly minimal). You can still sell it to a cash buyer, or forgo costly renovations. You just need to price it accordingly AND disclose any known issues to the buyer. I know how easy it is to want to expedite the process and move on from a sale, but PLEASE think twice before entertaining a so called cash buying company (especially one where its founder writes his own companies Google review). I would give a negative 5 stars if possible, due to the thousands I have lost because of the hold up during the hot market. The only positive thing that I can say is that the negotiator for their company (Johnathan), was pleasant. SELLER BEWARE!!!!!!