Selling a property to a cash buyer. Things to watch out for?

[Adam Azam]

I just received a cash offer for a property I am going to accept. I just accepted the offer and they are supposed to give me $1000 as a deposit. I haven't received this yet, so should I be getting this directly from them? Also, he says he needs to wait for title to clear before closing, but he is lagging on giving me info on their title company for me to verify. What can I do to watch out for myself?

[Theresa Harris]

Quote from @Adam Azam:

 It is clearly a wholesaler and it states that in the contract where it says they are buying it to resell at a significant profit.  It also says the deposit shall be given to you-without that (check with an attorney) but the contract shouldn't be valid.  I'd call them and say you haven't received the deposit and clearly he's not interested in buying it, but wholesaling it and you aren't interested.  If you want to sell your house, talk to a realtor.  You will then get market price (minus commission).  The net price to you will still be higher than what you are getting from this person.