Selling your house for cash in Memphis can save time, stress, and money. But not all cash buyers are the same. Some are reliable, professional investors who close quickly, while others use pressure tactics, lowball offers, or even fake contracts.
So how do you choose the right buyer? The answer is simple: you ask the right questions. Below, we’ll break down 7 key questions you should always ask, show examples of real reviews and proof-of-funds requests, and give you a ready-to-use interview sheet to help you compare buyers.
Why Asking Questions Matters
A cash buyer will often tell you what you want to hear—fast closing, no repairs, no fees. But promises mean little without proof. By asking smart questions, you can spot which buyers are trustworthy and which ones may waste your time or money.
1. “Can I See Your BBB Rating?”
The Better Business Bureau (BBB) is one of the easiest ways to check a buyer’s credibility. Reputable buyers will have:
- A listed profile with their company name.
- An overall rating (A or higher is ideal).
- Customer reviews and complaint history.
⚠️ Red flag: If a buyer has no BBB listing or multiple unresolved complaints, be cautious.
2. “Can You Provide Local Reviews or References?”
Word-of-mouth is powerful in Memphis. Ask buyers for reviews from real homeowners they’ve worked with.
Review Example:
“We sold our house in Raleigh to this company, and they closed in 9 days just as promised. They even covered all the closing costs.”
Good buyers will have positive reviews on Google, Facebook, or Yelp. Avoid companies with no online presence.
3. “Do You Have Proof of Funds?”
This is one of the most important questions. A legitimate cash buyer will show a recent bank statement, line of credit letter, or balance sheet proving they can actually close.
Sample Proof-of-Funds:
Bank of Memphis
Business Checking Account
Balance: $985,000
As of: [Date]
Prepared for: [Buyer’s Company Name]
If they hesitate to provide this, they may be wholesaling your house rather than buying it directly.
4. “Who Handles the Closing?”
All closings should go through a licensed title company or real estate attorney in Memphis. If a buyer suggests skipping this step or handling it themselves, walk away immediately.
5. “What’s Your Typical Timeline?”
Legitimate buyers usually close within 7–14 days. If they say it could take 60 days or more, they may not actually have the funds in hand.
6. “Are There Any Fees I Should Know About?”
Many buyers advertise “no fees” but later tack on processing or transaction charges. Always ask upfront:
- Will I pay closing costs?
- Are there any hidden fees?
- Will the offer price change before closing?
7. “Do You Buy As-Is?”
Most cash buyers claim to purchase homes “as-is,” but confirm what that really means. A true as-is sale means:
- No repairs required.
- No inspections that allow them to renegotiate.
- You hand over the keys and walk away.
Why Local Buyers Are Better
National buyers may offer big promises, but they don’t always understand Memphis neighborhoods. Sellers often find that cash house buyers Memphis with a local presence make more realistic offers, know property values better, and close more reliably.
Cash Buyer Interview Sheet
Use this simple sheet to keep track of answers when speaking with multiple buyers:
Cash Buyer Interview Sheet – Memphis
- Company Name: ___________________________
- BBB Rating: ______________________________
- Local Reviews/References Provided? _________
- Proof of Funds Shown? _____________________
- Closing Company/Attorney: _________________
- Typical Closing Timeline: ___________________
- Fees or Costs to Seller? ____________________
- As-Is Purchase (Yes/No): ___________________
- Offer Amount: ____________________________
- Notes: __________________________________
Compare sheets side by side, and you’ll quickly see who is serious and who isn’t.
FAQs About Choosing a Cash Buyer in Memphis
Q: Should I trust buyers without a BBB rating?
A: Not necessarily. A missing BBB profile is a red flag. Always double-check reviews elsewhere.
Q: What happens if a buyer doesn’t have proof of funds?
A: They may not be the actual end buyer. This could lead to delays or canceled contracts.
Q: Can I interview more than one buyer?
A: Yes—and you should. Comparing offers protects you from lowball deals.
Q: How do I know if a buyer is local?
A: Check their phone number, office address, and reviews. Out-of-town buyers may not understand Memphis markets well.
Q: What if I sign a contract with the wrong buyer?
A: You may be stuck until the contract expires. Always read carefully before signing.
Final Thoughts
Selling your Memphis home for cash can be a smart move, but only if you pick the right buyer. By asking the seven questions above, checking BBB ratings, reviewing proof of funds, and using the interview sheet, you’ll be able to separate trustworthy buyers from those who aren’t serious.
The right buyer will be transparent, professional, and ready to close fast. The wrong one could waste weeks of your time or cost you money. With the right questions in hand, you’ll feel confident and in control of your sale.