You Know Those Ads Saying They’ll Buy Your Home, Cash? It’s a scam.

If something seems too good to be true, it usually is. Take, for example, those billboards, ads, letters and postcards that say that they will buy your home. Cash. Fast.

Someone by the name of “Matt” sent my clients at 42640 Iowa Street a letter yesterday asking them if they would be interested in selling their home. Since it is actively listed–with me–it’s a pretty good bet that they are.

I called the number in the letter and sent an email to the one listed in the letter. No reply.

“Matt” with no last name at Real Property Acquisition Company on Country Club Drive in Palm Desert, trying to poach my listing.
And scam my clients.
Their website claims they guarantee they will find you a cash buyer within three days.
I looked up their Real Estate License number on their website and there is no “Matt” at the company.
I checked the broker’s license on the MLS and they currently have one active listing that has been sitting for 117 days.

In the past 11 years this brokerage has closed 79 deals–after an average of 80 days with zero of them selling in 3 (or even 10) days or less. They’ve also had 39 get cancelled, and 30 expire. So 69 of their listings never sold. Not a very good closing ratio. Especially for someone that says they guarantee they’ll have you a cash buyer within 3 days.

Basically they were trying to get my client to part ways with me and go with them. They don’t have a buyer.

 

Be careful out there!
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