Check the purchaser, funding evidence, written terms and closing arrangements before signing. Use these questions for Summit or any other proposed buyer.
If you are comparing a cash offer for your Sacramento or East Bay house, begin with the written details. A professional-looking website is not proof of funding, performance or the terms of a particular purchase.
Ask for information you can verify independently. Confirm who is purchasing, what remains to be completed and what your estimated proceeds would be after payoffs and agreed expenses.
Resolve missing information and inconsistent terms before deciding. You can ask an independent adviser to review the offer and compare it with your other options.
Take time to verify the purchaser and understand the agreement. Read any expiration, inspection and cancellation provisions rather than relying on verbal assurances.
Facing foreclosure and need help? Call 1-800-569-4287 to find a HUD-participating housing counseling agency. Foreclosure counseling is free. An inquiry to Summit does not pause a deadline.
Six questions to help you review the proposed purchase. A business registration alone does not establish available funds or guarantee a closing.
Ask for the exact entity name and state of formation, then use that state's official business registry. The California Secretary of State explains how to access California business records. Registration is one check; it does not prove funding or transaction performance.
Ask for funding evidence relevant to the purchaser and proposed closing. Clarify whether funding conditions, financing or other contingencies remain. Have your adviser or escrow contact help assess unfamiliar documents; a website claim is not proof of available funds.
Confirm who will purchase, who will sign and whether the agreement permits a change of purchaser. Ask how any change would affect funding, responsibilities and closing. Review these terms and proposed changes in writing before deciding.
Confirm which title or escrow company will handle the transaction and verify its contact information independently. Ask that company about the file for your address. The California DRE recommends verifying payment instructions by phone, particularly for wire transfers. Use a known, independently confirmed number.
Read the inspection period, contingencies, deposits, cancellation provisions and deadlines. Ask an independent adviser what rights and obligations the agreement creates before you sign.
Summit charges no seller commission or service fee. That does not make the offer price equal to net proceeds: payoffs, liens, taxes, credits and other agreed expenses may still apply. Ask escrow for an itemized estimate and review who pays each expense in the agreement.
Understand the proposed purchaser, your responsibilities and the terms before deciding.
We'd rather you make the right decision for your situation than the decision that's best for our business.
If maximizing net proceeds is your priority, compare a listing estimate with the cash offer. Include preparation, negotiated compensation, concessions, carrying costs and purchase conditions. There is no universal timeline or savings percentage that determines the better choice.
We are the buyer, not your advocate. If you want a professional legally obligated to negotiate on your behalf, hire a licensed real estate agent or a real estate attorney before entering any agreement with us or anyone else.
For help reviewing foreclosure options, call 1-800-569-4287 to find a HUD-participating housing counseling agency. HUD confirms that foreclosure counseling is free. A counselor can help you explore options that may not involve selling.
Straight answers, including the ones that don't necessarily favor us.