My mom is currently talking to a real estate consultant named xxxxx (Cash Offer For Your House). She claims they have already offered her $400,000 for the house, and a "realtor" is scheduled to come by tomorrow to inspect the property.
I'm incredibly skeptical for a few reasons:
Sight-Unseen Offer: They gave a specific dollar amount ($400k) without ever seeing the interior or the condition of the home.
The "Ad" Copy: The marketing (attached) uses high-pressure, classic "We Buy Houses" language: Close in 7 days, No Commission, No Fees, Your home may already be SOLD!
The Google Profile: He has a 4.3 rating but only 12 reviews, which seems low for someone claiming to have a massive database of buyers and a full "team of agents."
The Math: If they aren't charging commission or fees, how are they making money unless they are severely underpaying for the home or charging hidden "administrative" costs?
My concerns: Is this a "predatory wholesaler" situation where they'll get her under contract and then hit her with "repair credits" to drop the price by $50k at the last minute? Or is this a straight-up identity/fee scam?
Has anyone dealt with this specific individual or this type of "Cash Offer" business model? I want to protect my mom from making a massive financial mistake.
Update: People came by. An offer of 393k was given. Parents want 430k.