Hot take: Fast cash sales aren't always the win they're cracked up to be

I closed a deal for $4,000 cash in two hours last Tuesday in Dallas but the buyer backed out the next day and I lost a weekend of work, meanwhile a slower sale I did three years ago for $2,800 held firm with no headaches so what's your experience with the trade off between speed and reliability?

3 comments

3 Comments

anna_fox726d ago

$4k cash in 2 hours sounds like a special case, not the norm. In Dallas, where I work too, a cash deal that fast usually means someone's trying to flip or unload a problem property fast. The buyer backing out the next day makes sense if they got cold feet after actually looking at the place. I've seen it happen a bunch with flipped houses where the numbers don't add up once you factor in repairs or title issues. Your $2800 deal lasting three years with no headaches shows steady income from a stable tenant is way more valuable than a quick payout with drama. Cash sales can be great, but only if you vet the buyer and the property first, not just grab the first offer that hits your inbox.

finleyf8826d ago

That thing you said about people grabbing the first cash offer without looking closer reminds me of how everyone rushes through stuff now. I see it all the time with people buying cars online without test driving them, or signing up for subscription services without reading the fine print. It's like we all got trained to think faster is always better, but then you end up with a headache later. The 3 year steady rental deal proves slow and boring usually wins in the end. Cash is nice but not if it comes with a mess you gotta clean up for months.

alice3367d ago

Totally with you on this, @finleyf88 hit it right about how everyone just grabs the first thing that moves fast. Had a similar situation last year where a quick cash offer vanished after 24 hours and left me holding a property that needed way more work than I planned. Slow and steady might feel boring but it saves you from the kind of mess that cash deals can bring if you're not careful.