1 00:00:07,000 --> 00:00:09,260 Welcome to the Danny Buys Houses podcast. 2 00:00:09,260 --> 00:00:14,220 I'm your host, Danny Johnson, real estate investor, cash house buyer in San Antonio, Texas. 3 00:00:15,079 --> 00:00:18,799 Now if you're thinking about selling your house to a cash home buyer, you've got to listen up. 4 00:00:18,819 --> 00:00:22,319 Today, we're talking scams, right? We buy houses scams. 5 00:00:22,699 --> 00:00:27,680 How to spot fake cash home buyers and pick a legit one who can actually close on the 6 00:00:27,739 --> 00:00:32,639 deal. I'll share what to watch out for, what makes a buyer trustworthy, and answer some listener 7 00:00:32,680 --> 00:00:36,199 questions. So stick around. I'm gonna show you how to get started safely. 8 00:00:36,639 --> 00:00:38,080 So let's dive in. 9 00:00:38,979 --> 00:00:43,360 All right. Selling your house for cash sounds great, right? Fast, easy, no repairs. 10 00:00:43,719 --> 00:00:47,220 I've been doing it here in San Antonio for over 20 years with Danny Buys Houses. 11 00:00:48,219 --> 00:00:51,819 But here's the ugly truth: not every cash buyer is legit, 12 00:00:52,459 --> 00:00:57,340 right? Some are scammers, some are just wannabes, right, who can't close. 13 00:00:57,340 --> 00:01:00,999 You know, they'll tie up your house, they'll waste your time, and leave you hanging, right? 14 00:01:01,299 --> 00:01:05,599 It's- it's horrible, but it happens. Uh, seller beware. All right. 15 00:01:05,719 --> 00:01:08,859 Let's break it down. First, the shady ones. Right? 16 00:01:08,859 --> 00:01:11,179 Some investors don't have the money to buy your house. 17 00:01:12,099 --> 00:01:14,199 I'm just gonna say that. I mean, they just don't have the- 18 00:01:14,879 --> 00:01:17,179 the, uh, the means to actually buy your house. 19 00:01:17,219 --> 00:01:20,239 They'll say they'll pay cash, but then they don't have the means to do that, right? 20 00:01:20,859 --> 00:01:21,119 So 21 00:01:21,739 --> 00:01:26,199 they're gonna make you an offer anyway, sign a contract, and scramble to find another investor to flip the 22 00:01:26,219 --> 00:01:31,079 deal to. And it's not that all people, uh, they're called wholesalers and 23 00:01:31,099 --> 00:01:34,919 it's called wholesaling where you're getting a house and you're- you're putting it under contract to sell 24 00:01:34,919 --> 00:01:35,719 it to another investor. 25 00:01:36,419 --> 00:01:40,079 All right. And- and not all wholesalers are shady, okay? 26 00:01:40,079 --> 00:01:44,879 I just want to say that upfront. Um, it's just that if- if they're not being 27 00:01:44,879 --> 00:01:49,679 upfront with you about what they're doing, that that's what they're going to do, then that is kind of 28 00:01:49,759 --> 00:01:54,059 shady, right? So, um, you got to find out if they're actually gonna be the ones 29 00:01:54,599 --> 00:01:56,419 to buy the house, right? 30 00:01:57,559 --> 00:02:02,519 So, you know, if- if they've got no cash, no plan, just hope, if that 31 00:02:02,579 --> 00:02:07,539 second buyer that they do actually find, if they do find one, falls through, then your deal is 32 00:02:07,579 --> 00:02:09,119 just dead. You're back to square one. 33 00:02:09,139 --> 00:02:14,099 Maybe worse, you know, if you're facing foreclosure on a deadline that requires you to sell a house 34 00:02:14,139 --> 00:02:14,559 fast. 35 00:02:15,279 --> 00:02:19,479 Um, and so that happens, it happens all the time, and so you just got to be careful. 36 00:02:20,199 --> 00:02:20,539 Um, 37 00:02:21,739 --> 00:02:25,659 you know, you know, worse yet, there's some- some are just pure scams, you know. 38 00:02:25,679 --> 00:02:30,439 They ask for unfron- upfront fees, which is usually the sign of the scam, right? 39 00:02:30,459 --> 00:02:33,799 They're gonna try to make money off of this without even doing the deal. 40 00:02:34,379 --> 00:02:39,099 So if- if any cash home buyer's asking you to pay some sort of fee to- to 41 00:02:39,159 --> 00:02:41,159 lock in some kind of offer, whatever, 42 00:02:42,079 --> 00:02:46,479 do not. You know, just turn and walk away because, you know, legit buyers just don't do that, right? 43 00:02:46,499 --> 00:02:50,899 You- you're not gonna... You shouldn't be paying any fees to get an offer on your house, okay? 44 00:02:50,939 --> 00:02:51,199 So, 45 00:02:51,819 --> 00:02:56,299 uh, you know, if they try to push you to sign some sketchy paperwork that you don't fully understand 46 00:02:56,299 --> 00:03:00,739 without, you know, answering questions about it or letting you, you know, if you decide you want to take it 47 00:03:00,739 --> 00:03:04,259 to your attorney and they don't let you do that, you gotta question why, okay? 48 00:03:04,919 --> 00:03:05,319 Um, 49 00:03:06,339 --> 00:03:08,459 so how do you spot a trustworthy one, right? 50 00:03:08,459 --> 00:03:12,019 How do you find the actual legit cash home buyers that are gonna get the deal done? 51 00:03:12,559 --> 00:03:14,479 So one way is, you know, that, 52 00:03:15,299 --> 00:03:18,379 you know, someone that's legit and able to do it has a track record, right? 53 00:03:18,399 --> 00:03:20,639 It should not be their first deal that they're ever doing. 54 00:03:21,059 --> 00:03:23,499 They should have a track- track w- record, right? 55 00:03:23,619 --> 00:03:27,119 And one way to find this out is you can check the Better Business Bureau 56 00:03:27,799 --> 00:03:32,159 and, you know, Danny Buys Houses has been, uh, with an A+ accredited rating 57 00:03:32,619 --> 00:03:36,279 since 2015 on Danny Buys... on, uh, Better Business Bureau. 58 00:03:36,719 --> 00:03:38,719 So the website is bbb.org. 59 00:03:39,839 --> 00:03:42,759 All right. It's triple b dot org, Better Business Bureau. 60 00:03:43,459 --> 00:03:45,979 Uh, two, usually they're local, right? 61 00:03:45,979 --> 00:03:50,699 A San Antonio buyer who knows the market, not some out-of-state, uh, just voice on the 62 00:03:50,779 --> 00:03:55,699 phone is gonna be much more likely to be a legit person because you can meet them in person and you can get a 63 00:03:55,719 --> 00:03:58,639 feel for- for them and- and their confidence in doing the deal. 64 00:03:59,319 --> 00:04:02,519 Right? So we always recommend people go with someone local in San Antonio. 65 00:04:03,119 --> 00:04:04,559 Uh, three, they have, uh, 66 00:04:05,239 --> 00:04:10,199 you know, online reviews, right? Because, you know, if you- if you're any kind of business these days, 67 00:04:10,199 --> 00:04:13,119 you're gonna have some online reviews no matter what you do. 68 00:04:13,559 --> 00:04:18,499 And you can Google Danny Buys Houses, uh, Danny Buys Houses reviews and you 69 00:04:18,519 --> 00:04:23,459 can see all of ours on the internet there, Facebook, uh, Google, Better Business Bureau. 70 00:04:23,899 --> 00:04:25,599 I think that we got a review on Yelp even. 71 00:04:26,059 --> 00:04:26,419 Um, 72 00:04:27,119 --> 00:04:29,619 all right. So- so check for some- some reviews. 73 00:04:30,399 --> 00:04:33,239 Uh, fourth, they're- they're transparent, right? 74 00:04:33,239 --> 00:04:34,739 No fees, no tricks, 75 00:04:35,419 --> 00:04:39,699 and just a straight offer, right? It's just gonna be, you know, no funny business. 76 00:04:40,159 --> 00:04:44,199 They're not gonna ask you to do any- anything that might seem out of the ordinary. 77 00:04:44,779 --> 00:04:47,699 Uh, five, they close fast. You know, days or weeks, not months. 78 00:04:47,699 --> 00:04:51,779 You know, if they're wanting to put the thing under contract for three months before they can close it, you 79 00:04:51,819 --> 00:04:56,259 gotta question why. I mean, they're probably gonna be looking for someone else to buy the house, right? 80 00:04:56,339 --> 00:04:58,099 Not- not actually close on it themselves. 81 00:04:58,959 --> 00:05:00,099 Uh, so if they can't answer, 82 00:05:01,259 --> 00:05:05,959 um, how they're gonna pay or- or how- how they're gonna be able to close quickly, you know, go the other 83 00:05:05,959 --> 00:05:07,739 way. Don't- don't go with someone like that. 84 00:05:08,579 --> 00:05:12,439 Now as an example, I had a call, uh, I'm gonna change her name here. 85 00:05:12,579 --> 00:05:17,539 Susan, we'll just call her Susan. Last year she signed with a cash buyer 86 00:05:18,059 --> 00:05:22,979 who promised the moon, big cash, quick close. But weeks passed and nothing ever happened. 87 00:05:23,479 --> 00:05:27,739 Uh, turned out he was shopping her house to others, no money. He didn't have the money to actually close. 88 00:05:28,379 --> 00:05:30,779 Uh, and he was just giving her the runaround. 89 00:05:30,779 --> 00:05:34,299 He wouldn't be honest with her about that w- was what was happening. 90 00:05:34,619 --> 00:05:39,019 So she called us desperate, right? She just needed this thing to be done. Uh, we checked it out. 91 00:05:39,959 --> 00:05:44,939 Turns out their offer had ex- you know, his, uh, offer had expired, the contract had expired, 92 00:05:45,479 --> 00:05:48,339 and I don't even know if they- they had paid any earnest money, 93 00:05:48,939 --> 00:05:51,459 uh, and receeded the contract at his title company even. 94 00:05:51,459 --> 00:05:54,939 So I'm not sure that anything was ever even done, but, uh, we checked it out. 95 00:05:54,939 --> 00:05:57,059 We offered cash and we closed in a week. 96 00:05:57,079 --> 00:05:59,979 And she said, "Danny, I wish I had just found you first. 97 00:05:59,979 --> 00:06:03,839 (laughs) That would have saved me a ton of time." So that's why we're here, that's what we do. 98 00:06:04,519 --> 00:06:08,619 Uh, and, uh, we ensure the deal- deal just gets done, right? 99 00:06:09,159 --> 00:06:11,099 So let's head some listener questions. 100 00:06:11,559 --> 00:06:16,179 Uh, first, how do I know that a cash buyer will close? This is from Mike in San Antonio. 101 00:06:16,339 --> 00:06:20,899 Hey Mike. Uh, ask for the closing agent's name and phone number. All right. 102 00:06:20,899 --> 00:06:22,279 They've got to close the deal somewhere. 103 00:06:22,639 --> 00:06:26,399 If they want to close it at your kitchen table, you know, most of the time that's- that's really not a good 104 00:06:26,459 --> 00:06:29,999 idea. Uh, (laughs) you want someone that's gonna be using a title company. 105 00:06:30,039 --> 00:06:34,719 So, you know, ask for their- who- who closes their deals at the title company, their closing 106 00:06:34,739 --> 00:06:36,059 agent's name and their phone number. 107 00:06:36,679 --> 00:06:40,259 Call them and- and make sure that they've actually been closing deals, right? 108 00:06:40,839 --> 00:06:41,499 And, uh, 109 00:06:42,239 --> 00:06:46,339 you know, even better, walk into that office and ask to talk to that person so you know you're actually 110 00:06:46,339 --> 00:06:48,319 talking to somebody that's at the title company, right? 111 00:06:48,939 --> 00:06:52,639 So if they stall and- and they just say, "Trust me," you know, walk away, right? 112 00:06:52,659 --> 00:06:55,719 Because they should be willing to give that information. So that's... 113 00:06:55,719 --> 00:06:56,599 I think that's the- 114 00:06:57,319 --> 00:07:01,199 one of the best ways to do it, to know that you're working with somebody that's actually closed because 115 00:07:01,959 --> 00:07:05,379 you're not just hearing them tell you what they've done, you're talking to somebody else that's a third 116 00:07:05,439 --> 00:07:08,579 party that's confirming that they've done what they say. 117 00:07:08,659 --> 00:07:08,959 So, 118 00:07:09,759 --> 00:07:13,379 um, what if they want me to pay some... Here's the next one, by the way. 119 00:07:13,739 --> 00:07:17,379 Uh, what if they want me to pay something upfront? That's Rosa in Universal City. 120 00:07:18,039 --> 00:07:22,919 Uh, hey Rosa, yeah, that's a red flag. Don't do it. No real cash buyer charges you fees. 121 00:07:22,919 --> 00:07:23,879 We're, uh... You know, 122 00:07:24,679 --> 00:07:24,859 it- 123 00:07:25,499 --> 00:07:28,839 it just doesn't happen. That's- that's gonna be a s- they're just trying to get that money and then they're 124 00:07:28,839 --> 00:07:30,539 done. So don't- don't do that. 125 00:07:31,279 --> 00:07:34,919 Bad news. (laughs) Run the other way. All right. 126 00:07:35,099 --> 00:07:38,119 And, uh, last one here, can I check them out online? 127 00:07:38,119 --> 00:07:39,059 This is from Tony, 128 00:07:39,839 --> 00:07:44,519 uh, and Shirts. Tony, yeah, yeah, look o- online at the real estate 129 00:07:44,539 --> 00:07:48,919 reviews, like I said, Google, Better Business Bureau, Facebook, uh, see what folks say. 130 00:07:49,999 --> 00:07:52,859 Uh, we've got years and years of happy sellers at Danny Buys Houses. 131 00:07:53,339 --> 00:07:57,079 Uh, even dannybuyshouses.com, there's a Reviews link there at the top. 132 00:07:57,679 --> 00:07:58,859 Uh, dig a little bit, 133 00:07:59,839 --> 00:08:03,399 uh, it's your house that's on the line, you want to make sure that you're actually gonna be picking somebody 134 00:08:03,419 --> 00:08:07,359 that's gonna be able to close it. All right? All right. If you have more questions, send them my way. 135 00:08:07,459 --> 00:08:12,422 Love to- to read them on the episode, next episode and, uh...... 136 00:08:12,422 --> 00:08:15,781 you know, cover that and it helps other people that have those questions that haven't asked it. 137 00:08:15,841 --> 00:08:16,041 So, 138 00:08:16,782 --> 00:08:20,901 uh, always feel free to do that. All right, ready to sell to a legit cash buyer? 139 00:08:21,242 --> 00:08:25,161 Here's how to get started. If you wanna sell to us, dannybuyshouses.com, 140 00:08:25,821 --> 00:08:30,701 uh, there's a fast cash offer form, takes like two minutes. Fill that out and give us info about the house. 141 00:08:31,101 --> 00:08:33,562 We'll give you a call, set up an appointment to come look at it. 142 00:08:33,882 --> 00:08:38,201 Takes us like 15, 30 minutes to walk through the house and we'll make you a cash offer. 143 00:08:38,441 --> 00:08:40,481 There's no obligation, there's no cost, no fee. 144 00:08:41,101 --> 00:08:45,861 Uh, if you do like the offer and we, you know, we come to an agreement, we'll sign a purchase agreement 145 00:08:46,421 --> 00:08:50,222 that spells that out in writing so you know exactly in writing what we're agreeing to. 146 00:08:50,822 --> 00:08:55,501 And that gets taken to a title company by us, and title company will get all the paperwork 147 00:08:55,581 --> 00:08:56,641 together for closing, 148 00:08:57,261 --> 00:09:01,302 uh, with whatever timeframe works for you, whether that be two weeks or 149 00:09:01,962 --> 00:09:04,161 a month or six weeks, whatever you want. 150 00:09:04,861 --> 00:09:08,901 And the closing happens and you sign and, and get paid, and that's it. All right? 151 00:09:08,921 --> 00:09:12,822 You don't have to fix the house up, you don't have to wait for a bunch of buyers to come through and make 152 00:09:12,861 --> 00:09:15,081 offers. You just, you know, get it done and be done with it. 153 00:09:15,921 --> 00:09:20,701 All right, so look, I get it. Selling is a big move and you don't wanna get burned by a fake cash 154 00:09:20,761 --> 00:09:21,142 buyer. 155 00:09:22,021 --> 00:09:24,761 You know, you wanna avoid any we buy houses scams, all right? 156 00:09:25,061 --> 00:09:29,822 I started Danny Buys Houses to help, uh, people in San Antonio and surrounding areas th- who 157 00:09:30,241 --> 00:09:35,181 want a real solution to selling a house that needs repairs, that doesn't fit the mold for a typical house 158 00:09:35,182 --> 00:09:38,381 going on the market for someone to buy and move into, right? 159 00:09:38,441 --> 00:09:42,221 So no scams, no stress, just cash and a done deal. 160 00:09:42,462 --> 00:09:44,461 That's what we deliver here at Danny Buys Houses. 161 00:09:45,182 --> 00:09:47,322 Uh, so head to our website or give us a call, 162 00:09:47,541 --> 00:09:52,282 210-881-7707. Thanks for listening, everyone. 163 00:09:52,541 --> 00:09:56,781 Share this with somebody that's thinking of selling, uh, you know, to help protect them as well. 164 00:09:57,041 --> 00:09:59,441 Make sure to subscribe so you don't miss another episode. 165 00:09:59,981 --> 00:10:03,761 Uh, this is Danny Johnson from Danny Buys Houses saying take care, sell smart. 166 00:10:04,381 --> 00:10:05,161 See you next time.