We buy houses cash Oakland

Welcome to Diaz Juan, We are the number one house buyer & seller in Oakland. We buy houses cash, so sell your houses Oakland Quickly. For more details see our website

has anyone one ever bothered to call these “we buy houses” … “quick closing with our own cash”… and what else they promise?

I frequently get these post cards… both for out-of-state properties and for investment properties in Santa Clara County.

So, the other day, I figured, let’s see what they do.

They had mailed me about a SFR in Salt Lake City.
Phone call:

He: so, what do you think that house is worth?

Me: umm… $240k

He: Well, would you take $210k with quick closing, no realtor commission, no giving notice to tenant, no repairs?

Me: umm… possibly… OK

He: ok… how much do you owe on it and what’s the rate?

Me: $75k, 3.5%

He: oh! Ok, well, so, we could buy the house subject to your loan until we have fixed it up and flipped it.

Me: well… but I would get $135k next week, right?

He: We could record a 2nd deed of trust in your favor for those $135k

Me: Do I need to loan you money for the repairs too?

But they did not lie in their ad:

  • If I agree, they can prepare the docs in 1 day and close in 2 to 3 days

  • they do not need to get a loan (from a lender!)

  • they do not bring in a realtor

  • they even pay all the closing cost ($20 for a UPS notary public to notarize the Quit-Claim-Deed and the 2nd deed of trust plus maybe $30 to record those 2 docs)… all with their OWN CASH ($50)

Wow. That’s a racket.

Seller financing is the oldest trick in the book…Very popular in the 80s when rates were 18%…