Paid a $500 inspection fee for a cash buyer who ghosted me on closing day

I had a guy from out of state who said he was ready to pay cash for my duplex in Tucson, so I fronted the inspection and appraisal costs. He stopped answering calls the morning we were supposed to sign, and I never heard from him again. Has anyone else gotten burned by fake cash buyers who just waste your time and money?

2 comments

2 Comments

anthony_jenkins611mo ago

Yeah that cash buyer thing is a scam a lot of the time I swear. I had this guy once who drove a really nice truck and talked about all these properties he owned but he couldn't even come up with the earnest money after three weeks of back and forth. My realtor kept saying "he's legit, he just needs a few more days" and I was so dumb I let it slide because who wants to walk away from a cash deal. Then I found out he was just fishing for comps and using my place to show his "investor buddies" what a great deal he could get. The inspection fee thing really gets me though because that's money you just can't get back and it burns worse than the wasted time.

noah9141mo ago

Man that truck thing gets me every time. @anthony_jenkins61 you're telling me this guy had a nice truck and talked big but couldn't put down earnest money after three weeks? I would've lost my mind. My buddy had a cash buyer who showed up in a brand new Mercedes and had all these fancy investor cards but when it came time to actually wire the money he said he needed to "liquidate some assets" and then just disappeared. The inspection fee thing is brutal too because you're out $500 and get nothing for it. It's like these guys know exactly what to say to keep you hooked.