Solicitation for Cash Sale of Home

[Professor]

Ever since my spouse passed away 18 months ago, I started to get calls every 2-3 months asking if I would be interested in selling my home for a cash offer. I always declined because I suspect it is some sort of scam. It never happened until after her death, so I suspect someone is reading the obituaries and grabbing info off of it, hoping to catch someone in a weak moment. Has anyone else experienced this?

[Aces4]

Ever since my spouse passed away 18 months ago, I started to get calls every 2-3 months asking if I would be interested in selling my home for a cash offer. I always declined because I suspect it is some sort of scam. It never happened until after her death, so I suspect someone is reading the obituaries and grabbing info off of it, hoping to catch someone in a weak moment. Has anyone else experienced this?

No, but it's a rather disgusting tactic.:cus: Perhaps you can acquire their name and phone number to assure yourself you will never do business with them.

[JohnN]

Cash offers are far far below market value, so beware. My condolences for your loss.

[retiredguy123]

The best way to avoid getting ripped off is to know the value of your house. If you get a good offer and you want to sell, go for it. Selling through a broker is a huge hassle, time consuming, and expensive. Cash is king. Not all of these cash offer companies are a scam.

[CarlR33]

No, but it's a rather disgusting tactic.:cus: Perhaps you can acquire their name and phone number to assure yourself you will never do business with them.
LOL, pick one of the yard signs “we pay cash for homes” signs found on the road.
OP, I get a few calls every month or so asking if I want to sell my property or more often my parents property (we share the same name). BTW, I been getting numerous pay the toll texts lately, LOL

[Aces4]

LOL, pick one of the yard signs “we pay cash for homes” signs found on the road.
OP, I get a few calls every month or so asking if I want to sell my property or more often my parents property (we share the same name). BTW, I been getting numerous pay the toll texts lately, LOL

I based my reply on the fact that someone was probably watching the obituaries. That is creepy.

[retiredguy123]

I based my reply on the fact that someone was probably watching the obituaries. That is creepy.
I agree that watching the obituaries and making an offer a week after someone dies is creepy. But 18 months later? Not so creepy.

[Aces4]

I agree that watching the obituaries and making an offer a week after someone dies is creepy. But 18 months later? Not so creepy.

I think you missed the OP's: "ever since my spouse past away". That's like saying the 17-18 spam calls my phone received for two months before the April 1 election and now have stopped were just a coincidence. :icon_wink:

[Arctic Fox]

Ever since my spouse passed away 18 months ago, I started to get calls every 2-3 months asking if I would be interested in selling my home for a cash offer.

Do they ever state the amount they are willing to pay, or are they just fishing?

[Professor]

Do they ever state the amount they are willing to pay, or are they just fishing?

I never let them get that far...

[retiredguy123]

I think you missed the OP's: "ever since my spouse past away". That's like saying the 17-18 spam calls my phone received for two months before the April 1 election and now have stopped were just a coincidence. :icon_wink:
I agree that a cash offer is not appropriate immediately after someone dies.

Note that, in some real estate markets, especially where younger people have active careers, they are turned off by the 3 to 6 month house selling process. Some large companies are filling a need by making cash offers with an immediate closing. These are not scammers. The process allows the seller to unload the house and move to another job quickly. I doubt that the brokers like the process.

[Arctic Fox]

The best way to avoid getting ripped off is to know the value of your house. If you get a good offer and you want to sell, go for it. Selling through a broker is a huge hassle, time consuming, and expensive. Cash is king. Not all of these cash offer companies are a scam.

Every month I get an e-mail from Zoopla saying what they think my house is worth - no doubt based just on recent sales in the area.

They also include the option to receive a cash quote to buy it. Out of interest, I did this one month and the offer was considerably less than what they had just said the house was worth although, bearing in mind the cost of closing and the time taken, some may think it worthwhile.

What are your views on selling on-line, rather than through an agent?

[retiredguy123]

Every month I get an e-mail from Zoopla saying what they think my house is worth - no doubt based just on recent sales in the area.

They also include the option to receive a cash quote to buy it. Out of interest, I did this one month and the offer was considerably less than what they had just said the house was worth although, bearing in mind the cost of closing and the time taken, some may think it worthwhile.

What are your views on selling on-line, rather than through an agent?
Personally, I would sell my house through an agent. But he/she would be a top seller, I would not sign a boilerplate listing contract, and the agent would be in complete control to price, market, and sell the house. The contract would be for no longer than 90 days, and I would reserve the right to fire the agent if I lost confidence in them.

[Stu from NYC]

Me and my spouse still walking the earth but every week or so get an email like this. We ignore them

[manaboutown]

It seems to me the calling people/companies were watching the obituaries and likely attempting to take advantage of a grieving aurviving spouse as they were calling the home number. In the case of a house inherited by frequently out of state children or other heirs these or similar outfits try to locate and call them to achieve a speedy well under market value purchase.

Over the last ten years, probably based on my age (83), I have received numerous calls from would be buyers and would be listing agents seeking to purchase and/or list one or more of my investment real estate properties. Pre-pandemic an outfit offered what seemed to be a decent price on a property I would soon need to sell due to aging LLC members. We came close but backed off due to ridiculously onerous conditions within the purchase agreement. Three years later I listed the property with a national brokerage specializing in this type of real estate and sold it for 75% more that outfit's offer after competing potential buyers kept overbidding one another. Nothing like an auction!

[BrianL99]

There are a ton of people in the business of picking up properties, via Death Notices.

The Villages is the perfect place to do it, as so many folks are approaching the big giant golf course in the sky.

Just people trying to make a living. If you don't want to talk to them, don't. Many folks are happy to field offers on a home they no longer want or need. You may not get the highest & best price, but usually these type of buyers can move fast and don't need a lot of contingencies.

[Aces4]

There are a ton of people in the business of picking up properties, via Death Notices.

The Villages is the perfect place to do it, as so many folks are approaching the big giant golf course in the sky.

Just people trying to make a living. If you don't want to talk to them, don't. Many folks are happy to field offers on a home they no longer want or need. You may not get the highest & best price, but usually these type of buyers can move fast and don't need a lot of contingencies.

I'm sure that's a wonderful idea for those living here that are very old or demented or childless. Maybe the caller should check for those details first. Otherwise, most will arrange for an orderly, profitable sale when they are ready.

[BrianL99]

I'm sure that's a wonderful idea for those living here that are very old or demented or childless. Maybe the caller should check for those details first. Otherwise, most will arrange for an orderly, profitable sale when they are ready.

The potential Buyer doesn't care about "most", they care about the 1-2- or 3 they may get.

No different than folks calling and trying to sell your Medicare Advantage Plans, every winter.

.... or an Extended Automobile Warranty!

[Bonanza]

I based my reply on the fact that someone was probably watching the obituaries. That is creepy.

It isn't disgusting or creepy. Those offers to do business are legitimate and are from Realtors or private investors. It's simply an innovative way to drum up business and there's nothing wrong with it. You probably wouldn't like the offer but they usually pay all closing costs and it's a way to get rid of a property quickly with no inspections or repairs.

It's also a way that some people earn a living!

[Ignatz]

It isn't disgusting or creepy. Those offers to do business are legitimate and are from Realtors or private investors. It's simply an innovative way to drum up business and there's nothing wrong with it. You probably wouldn't like the offer but they usually pay all closing costs and it's a way to get rid of a property quickly with no inspections or repairs.

It's also a way that some people earn a living!
Yay! A sensible reply to the thread.

While some may feel offended by such a marketing tactic, other’s welcome it as it can help clear an estate asset cleanly and timely.

[thevillages2013]

Ever since my spouse passed away 18 months ago, I started to get calls every 2-3 months asking if I would be interested in selling my home for a cash offer. I always declined because I suspect it is some sort of scam. It never happened until after her death, so I suspect someone is reading the obituaries and grabbing info off of it, hoping to catch someone in a weak moment. Has anyone else experienced this?
I refuse to answer phone calls if I don’t know who is on the other end. Also IMO life is too short to be listening to voicemail. I still get the occasional rogue text message but it gets deleted

[tombpot]

Don’t answer the phone problem solved

[retiredguy123]

I refuse to answer phone calls if I don’t know who is on the other end. Also IMO life is too short to be listening to voicemail. I still get the occasional rogue text message but it gets deleted
My phone is always on "do not disturb" with the exception of numbers on my "contacts" list. This has totally eliminated unwanted calls. They can leave a voicemail if it is important.

[RoseyRed]

They are not only watching the obituaries but also keep up with public records that show when deed ownership has changed. I have experienced them calling and texting wanting to purchase properties. I ignore these due to the offer would likely be far less than the value of the property and therefore a waste of my time. Do not think they are calling/texting to do you a favor, it's to make them money!

[Topspinmo]

I based my reply on the fact that someone was probably watching the obituaries. That is creepy.


there always been rip off artists from around world preying on vulnerable and anyone else they can cheat or steal, Especially now in digital age.

[opinionist]

I would get random offers in the mail to buy my house for cash. When I put my house on the market, some official offers came in far below market value. I suspect they are house flippers looking for a gullible person. On the phone, I only answer calls where I can identify the caller.

[Villagesgal]

It is a scam. They are hoping that in your grief you make a decision in haste
and sell for next to nothing. I got these for 6 months after my husband died. One listed a cash price they would pay me that was about $200,000 less than my house was worth. They are hoping you are desperate for cash. Two actually stopped by my house and made offers. I did not sell and was angry at these people for trying to make a buck off of my misfortune. Don't make any major changes in your life for at least a year after a spouses death. These are dispicable people.

[Nana2Teddy]

I refuse to answer phone calls if I don’t know who is on the other end. Also IMO life is too short to be listening to voicemail. I still get the occasional rogue text message but it gets deleted
Agreed! Silence unknown callers is a great feature on my iPhone.

[starflyte1]

My friend sold his home in Arizona for a cash offer and it was a great choice. After much thought, he decided to see what they had to offer.

The price agreed on was very fair, considering the ease of the sale. There was no commission paid. No inspections, except one, for structure of house. He could just walk out, leaving anything he did not want to take. No cleaning. No showings.

And again, the selling price was about same as if it had been sold by a real estate agent.

He would try that again and was very happy with the sale.

[MandoMan]

I agree that a cash offer is not appropriate immediately after someone dies.

Note that, in some real estate markets, especially where younger people have active careers, they are turned off by the 3 to 6 month house selling process. Some large companies are filling a need by making cash offers with an immediate closing. These are not scammers. The process allows the seller to unload the house and move to another job quickly. I doubt that the brokers like the process.

Often, these are small companies given access to a large amount of credit by bigger companies. The small companies specialize in finding and contacting people who might be interested in moving and offering them cash in exchange for skipping the entire sales process and 6% paid to realtors. Some of them make a low-ball offer, but some make a pretty fair offer. These small companies tend to immediately turn the houses over to bigger companies, repaying the loan they received and keeping part of it. These larger companies then bundle house sales from all over the country and sell them to REITs. (Real Estate Investment Trusts) Investors buy into these REITs. The investors don’t own the houses. They just own shares. These are also sold like mutual funds. Some years they are the best investments on Wall Street. Some years they tank.

At some point the homes are reconditioned and perhaps sold for a good profit but more likely rented out. The huge companies doing this use computer algorithms to figure out the absolute maximum the market will bear for each house in its neighborhood and charge it. That is how REITs make their money, mostly from rents. However, when one of these companies starts renting out a house, the top dollar it charges is discovered by other companies in the area that rent out homes and duplicated. The result is that these companies bear the primary responsibility for the huge increase in the cost of rent around the country. As local owners raise rents, that money goes into the pockets of the local companies and out of the pockets of the millions who have to rent homes and apartments. However, the companies that own thousands of homes and hundreds of thousands of homes and raise the rent every year are doing it for investors.

[BrianL99]

Often, these are small companies given access to a large amount of credit by bigger companies. The small companies specialize in finding and contacting people who might be interested in moving and offering them cash in exchange for skipping the entire sales process and 6% paid to realtors. Some of them make a low-ball offer, but some make a pretty fair offer. These small companies tend to immediately turn the houses over to bigger companies, repaying the loan they received and keeping part of it. These larger companies then bundle house sales from all over the country and sell them to REITs. (Real Estate Investment Trusts) Investors buy into these REITs. The investors don’t own the houses. They just own shares. These are also sold like mutual funds. Some years they are the best investments on Wall Street. Some years they tank.

At some point the homes are reconditioned and perhaps sold for a good profit but more likely rented out. The huge companies doing this use computer algorithms to figure out the absolute maximum the market will bear for each house in its neighborhood and charge it. That is how REITs make their money, mostly from rents. However, when one of these companies starts renting out a house, the top dollar it charges is discovered by other companies in the area that rent out homes and duplicated. The result is that these companies bear the primary responsibility for the huge increase in the cost of rent around the country. As local owners raise rents, that money goes into the pockets of the local companies and out of the pockets of the millions who have to rent homes and apartments. However, the companies that own thousands of homes and hundreds of thousands of homes and raise the rent every year are doing it for investors.

Just one more example of what makes America great.

The opportunity to earn money in the USA, is boundless. Thank you for capitalism, long may it live!

[SoCalGal]

It seems to me the calling people/companies were watching the obituaries

They don't need to watch the obituaries. They buy a list from a list broker who gets the data from the public record that provides the name, address, and sometimes the phone number of the homeowner.

[SoCalGal]

I refuse to answer phone calls if I don’t know who is on the other end. Also IMO life is too short to be listening to voicemail. I still get the occasional rogue text message but it gets deleted

Get off my lawn! :cus:

[BrianL99]

They don't need to watch the obituaries. They buy a list from a list broker who gets the data from the public record that provides the name, address, and sometimes the phone number of the homeowner.

That's old school.

The information is readily and quickly available to anyone with a computer and internet connection.

I get an email every morning, that tells me who died in the cities & towns that concern me. Less depressing than reading obits.

[Aces4]

It isn't disgusting or creepy. Those offers to do business are legitimate and are from Realtors or private investors. It's simply an innovative way to drum up business and there's nothing wrong with it. You probably wouldn't like the offer but they usually pay all closing costs and it's a way to get rid of a property quickly with no inspections or repairs.

It's also a way that some people earn a living!

Hmm, I wonder if they stand at the gates of the cemetery or at the mortuary/crematorium. Some living! I still think it's like some trying to tell a widow to invest the life insurance payout in their "special" investment plan.

I'll have to edit my prepared obit to read: "The ghouls looking to buy my home can pester someone else. Arrangements have been made for my home's sale and my life insurance policy is already spoken for and divvied up". That should keep the ghouls off the honey wagon.

[Aces4]

Often, these are small companies given access to a large amount of credit by bigger companies. The small companies specialize in finding and contacting people who might be interested in moving and offering them cash in exchange for skipping the entire sales process and 6% paid to realtors. Some of them make a low-ball offer, but some make a pretty fair offer. These small companies tend to immediately turn the houses over to bigger companies, repaying the loan they received and keeping part of it. These larger companies then bundle house sales from all over the country and sell them to REITs. (Real Estate Investment Trusts) Investors buy into these REITs. The investors don’t own the houses. They just own shares. These are also sold like mutual funds. Some years they are the best investments on Wall Street. Some years they tank.

At some point the homes are reconditioned and perhaps sold for a good profit but more likely rented out. The huge companies doing this use computer algorithms to figure out the absolute maximum the market will bear for each house in its neighborhood and charge it. That is how REITs make their money, mostly from rents. However, when one of these companies starts renting out a house, the top dollar it charges is discovered by other companies in the area that rent out homes and duplicated. The result is that these companies bear the primary responsibility for the huge increase in the cost of rent around the country. As local owners raise rents, that money goes into the pockets of the local companies and out of the pockets of the millions who have to rent homes and apartments. However, the companies that own thousands of homes and hundreds of thousands of homes and raise the rent every year are doing it for investors.

I should have realized the stock market would have it's tentacles in there. Never enough nickels, eh?

[OrangeBlossomBaby]

OP those are scams. It's a huge industry and it's incredibly ugly. They're not legitimate offers. It's one of the most common types of real estate fraud.

Never, ever, EVER allow anyone to have a conversation with you about buying your home if YOU didn't reach out to THEM to express YOUR interest in selling. They can steal your identity, put the title in their name, and then they will own your home and you'll be homeless - and penniless.

After my mom died in 2023 I started getting letters from a particular company that wanted to buy my house at my mom's address. But my mom's house wasn't ever mine, it was in my name and my sister's name for a year, around five years ago. We shifted it to my sister's name when she got the financial and medical power of attorney for my parents. I did a semi-deep dive (more than just a cursory Google search, but not enough to make calls or contact a lawyer) on the company where the letters came from, and there were pages upon pages of warnings about real estate fraud in the results.

These companies prey on beneficiaries. Don't talk with them, don't answer their questions when they call, get in the habit of not saying "Yes?" when someone asks if you're you. Instead, ask "who's asking?" If it's a robocall, it might suggest you press #2 (or another number) to remove yourself from their mailing list. DO NOT DO THIS. It confirms that they reached an actual person, and will sell your name and number to list-companies. Just hang up.

[Bonanza]

It is a scam. They are hoping that in your grief you make a decision in haste
and sell for next to nothing. I got these for 6 months after my husband died. One listed a cash price they would pay me that was about $200,000 less than my house was worth. They are hoping you are desperate for cash. Two actually stopped by my house and made offers. I did not sell and was angry at these people for trying to make a buck off of my misfortune. Don't make any major changes in your life for at least a year after a spouses death. These are dispicable people.

It is NOT a scam and those people are NOT despicable! You have no clue. Six months after your husband died their offer probably had nothing to do with his death, but if that was the case, it is not an unreasonable amount of time after the fact. Yes, they are trying to "make a buck" because they are trying to earn a living. So -- what's wrong with that??? In many cases, they will offer you about 25% of a property's value. I know how these people operate. They are trying to purchase a property at somewhat less than its value so they can turn it over for a profit. They offer no contingencies, cash, no repairs, fast closings, pay all closing costs, and buy "as is." Those things alone are worth something even if their cash offer is not acceptable to you.

[Bonanza]

OP those are scams. It's a huge industry and it's incredibly ugly. They're not legitimate offers. It's one of the most common types of real estate fraud.

Never, ever, EVER allow anyone to have a conversation with you about buying your home if YOU didn't reach out to THEM to express YOUR interest in selling. They can steal your identity, put the title in their name, and then they will own your home and you'll be homeless - and penniless.

After my mom died in 2023 I started getting letters from a particular company that wanted to buy my house at my mom's address. But my mom's house wasn't ever mine, it was in my name and my sister's name for a year, around five years ago. We shifted it to my sister's name when she got the financial and medical power of attorney for my parents. I did a semi-deep dive (more than just a cursory Google search, but not enough to make calls or contact a lawyer) on the company where the letters came from, and there were pages upon pages of warnings about real estate fraud in the results.

These companies prey on beneficiaries. Don't talk with them, don't answer their questions when they call, get in the habit of not saying "Yes?" when someone asks if you're you. Instead, ask "who's asking?" If it's a robocall, it might suggest you press #2 (or another number) to remove yourself from their mailing list. DO NOT DO THIS. It confirms that they reached an actual person, and will sell your name and number to list-companies. Just hang up.

Once again, it is probably NOT a scam and not fraud. Yes, it could be but in most cases those who make an offer are local Realtors and will identify themselves with their name and the real estate company with which they are affiliated.