If you are a senior selling your home.

[palsenior]

I am a senior, 67, in the process of selling my home.

I have been approached by individual buyers who have offered to pay me cash for my home.

I am a little leery about that. If you were in this position, what could the person who is offering to buy to your exhibit to you that would indicate they are on the up and up?

Do you feel if they are registered with the Better Business Bureau would indicate that or how do you feel?


I'd appreciate any responses. Thank you.

 

[TWHRider]

It sounds as if you are not using a real estate agent and you are selling your home on your own?

Without question at the minimum, engage the help of a reputable real estate attorney and let them deal with the legal matters and money transfer. IMHO it is well worth the money you spend to make sure everything is properly handled, including you getting your money.

There is no way this side of H**l and Back I would sell my home "one-on-one" with anyone, not even my baby brother whom I trust with my life, without involving a real estate attorney. A little money spent up front might end up saving you the loss of all the equity in your home. If the person wanting to buy your home for cash is ethical, engaging an RE attorney will be welcomed by them.

Hope this helps

 

[Steve]

As an ex real estate consultant, I wouldn't recommend you try to do the legal work of an expert that you know nothing about..
You could lose your house as well as all the money due to you..

There is NO WAY in this world I would buy or sell without a licensed real estate lawyer or agent...
Whatever they cost is cheap vs. losing everything.......

 

[SifuPhil]

The only way I would go for a deal like that is if they showed up with a few duffle bags filled with small-denomination used bills, non-consecutive serial numbers, I had some armed security in the room and an electronic bill counting machine.

I'm not a huge fan of lawyers or RE agents but I suppose they DO have their uses, and this might be one of them. Just be aware that the word is that they kill as many deals as they complete.