Questions to Ask a Cash Buyer Before Selling Your St. Louis House

By George Kindler - Licensed Missouri REALTOR - 13 Years Experience

A cash offer can be useful, but only if the buyer is real, the terms are clear, and the discount makes sense. The fastest way to protect yourself is to ask direct questions before signing. A serious buyer should answer without making you feel guilty for asking.

Checklist rule: If the answer is vague verbally, ask for it in writing before the contract is signed.

Money risk

Ask: "Can you provide proof of funds today?" Also: "Are the funds liquid and available?" Read Proof of Funds.

Contract risk

Ask: "Who is the buyer on the contract?" And: "Can you assign this contract?" And: "What reasons allow you to cancel or lower the price?" Read Retrading.

Timing risk

Ask: "How long is the inspection period?" And: "Is your closing date firm?" Timing matters for inherited homes (read more), vacant properties (read more), and tenant-occupied homes (read more).

Cost risk

Ask: "Who pays closing costs?" Use Investor Math and the Cash Offer Decoder to compare your net.

The bottom line

If those answers are clean, you can evaluate the offer fairly.

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