"But your ad said, "We pay cash"!

[Lance Schaefer]

Well being a newbie and getting my first lead, I met with Harry and Mary Homeowner. I explained how I represent a network of cash buyers and would like to negotiate a price and sign a contract and try and sell their property, and get them the deal they were asking for. Then an uneasy question came. They asked me if I wasn't the one that was going to buy their house why would they just not list it with a realtor. My only answer I had was I would only try for 30 days,no long term contract like a realtor, and if I did not find a buyer, they kept the $10 consideration and we all walked away with no fees or costs to them.
They signed the contract and I'm sure it will be fine. (I need a buyer and quick though, and it is assignable)

However, they did cause me to think. I cannot buy their property without finding an end buyer. I have no cash, and My credit is crap and I cannot get a loan or hard money to acquire properties to sell in 30-45 days. My LLC is new(30 days old with no track record) and I am doing this full time because Aug. 1st I became unemployed.This is a moral dilemma.

How do you approach people and get them to give you a contract? What are the exact words you say to get them to sign? I do not want to burn them with some silly out clause if I don't have a buyer. I want to legitimately find a buyer and make money at the same time.

How do you handle someone like this(I was lucky on my first deal) that says..."I was under the impression that you were going to give me a cash deal like your ad says."

I think these people had their bags packed and were wanting money and FAST. What is your take on all this. It is quite different than the GURU's talk about and it is serious if you don't deliver. We have a reputation to uphold and I only want to be honest and keep my integrity.

[Curt Davis]

Lance,

Problem is your ad is false advertising. Most people who advertise with your slogan can actually make a real cash purchase offer. You should switch your slogan because your not actually doing what your sign says. You did get lucky on this one but might not on others.