50 Questions to Ask Any Michigan Cash Home Buyer

Not every Michigan cash home buyer is who they claim to be. Some are wholesalers (they don't actually buy — they assign your contract to a real buyer, and deals often fall through). Some are out-of-state operators who don't know your local market. A few are outright scammers.

This checklist gives you the 50 questions that separate legitimate cash buyers from everyone else. Ask any cash buyer to answer these in writing. If they can't or won't, walk away.

Part 1: Identity & Legitimacy (Questions 1-10)

1. What is your full legal business name and EIN?
2. Are you registered with the Michigan Department of Licensing and Regulatory Affairs (LARA)?
3. What is your physical Michigan business address (not a P.O. Box)?
4. Can I visit your office or meet you in person?
5. Are you accredited with the Better Business Bureau? What is your rating?
6. How long have you been buying houses in Michigan?
7. Can you provide 3 recent Michigan closings I can verify in public records?
8. Are you the actual buyer, or are you a wholesaler/assignor?
9. If you're a wholesaler, will that be disclosed in writing?
10. Who are the principals of your company? Can I look you up on LinkedIn?

Part 2: The Offer (Questions 11-20)

11. What's your offer? Get it in writing.
12. How did you calculate it? Can you walk me through your math?
13. What ARV did you use, and what comps support it?
14. What's your repair estimate? Can you itemize it?
15. Is this offer subject to any contingencies (inspection, financing, partner approval)?
16. How long is the offer valid?
17. If I accept, what happens next?
18. What if you find issues during your inspection — will you reduce the offer?
19. What's your earnest money deposit, and when do you put it down?
20. Is the earnest money refundable to you?

Part 3: The Contract (Questions 21-30)

21. Can I review the contract before signing?
22. Can my attorney review the contract first?
23. What is the inspection period, and what can you do during it?
24. What happens if you back out after inspection?
25. Is there an "assignment" clause allowing you to sell the contract?
26. Can I cancel? Under what circumstances?
27. Who pays closing costs? (Real cash buyers pay 100%.)
28. What fees am I responsible for?
29. Will I owe a commission to anyone?
30. What's the closing date — fixed or "on or before"?

Part 4: The Closing (Questions 31-40)

31. What title company will we use?
32. Can I choose the title company?
33. Will I receive a HUD-1 or Closing Disclosure before closing?
34. How will I receive funds — wire transfer or check?
35. Is the funding from your own resources, or from another investor?
36. Can the title company verify proof of funds?
37. What happens to my mortgage? Will it be paid off at closing?
38. What about my property taxes — current and back?
39. What about HOA dues, water bills, utility liens?
40. Will I receive a copy of the deed and final closing statement?

Part 5: Special Situations (Questions 41-50)

41. If I'm in foreclosure, can you close before sheriff sale?
42. If I'm in probate, will you wait for Letters of Authority?
43. If I have tenants, how is that handled?
44. If multiple heirs are on title, will you coordinate signatures?
45. If I live out of state, can I sign documents remotely?
46. If the home has fire/mold/water damage, are you still buying?
47. If you find a worse problem than expected, will you walk away or renegotiate?
48. What's your buyback policy if I change my mind in the first 24 hours?
49. Have you ever been sued by a seller? Can I see public records?
50. Will you provide references from sellers in similar situations?

How to Use This Checklist

You don't have to ask all 50 questions. Use this as a screening tool:

• First call: Ask 1-10 to verify legitimacy
• After receiving offer: Ask 11-20
• Before signing: Ask 21-30 (and have an attorney review)
• Before closing: Ask 31-40
• If your situation is complex: Ask the relevant questions from 41-50

How Diamond Home Buyers Answers These Questions

For full transparency, here are answers to the most-asked questions:

Question	Our Answer
Are you the actual buyer?	Yes. We close in our own LLC's name and are not assigning your contract.
Will you show your math?	Yes. We walk through ARV, comps, repair estimate, and the formula on every offer.
Who pays closing costs?	We do — 100% of normal closing costs.
Can I choose the title company?	Yes, as long as they're a licensed Michigan title company in good standing.
Where can I verify your closings?	Public records at any Michigan county Register of Deeds office.
Inspection period?	5-10 business days, used for confirming our walkthrough findings only.
What if you find unexpected issues?	We discuss them openly. Sometimes we adjust, sometimes we honor the offer. We don't surprise-renegotiate at the closing table.

This checklist is informational. Different cash buyers operate under different business models — some are wholesalers, some are direct buyers, some are large institutional investors. None of these models are inherently scams, but transparency about which model is operating IS essential. Always verify the buyer's identity and read every contract carefully.