Who is actually sending those Mastic offers
The first kind is a lead broker. They are not buying anything. They collect your details, sometimes with a form promising an instant offer, and sell that information to several buyers. The tell is that the "offer" never arrives as a figure, and you suddenly start hearing from multiple companies at once.
The second kind puts a house under contract at a low number and then sells that contract to somebody else before closing. This is wholesaling. It is legal and it is not automatically bad, but you should know it is happening, because the person you shook hands with is not the person who will close.
The third kind buys with its own funds and closes. That is the only one where the number you are given and the number at closing are the same thing by default.
The questions to ask any Mastic cash buyer
Four questions do most of the work.
Proof of funds? A real buyer has it and shares it. Excuses are an answer in themselves.
Closing yourselves, or assigning? You are entitled to a plain answer before you sign, whichever it is.
Can the number change after inspection? If it can, treat the offer as provisional, because it is.
My own attorney? Always, in New York. Be wary of anyone steering you to theirs or suggesting you skip it.
Warning signs worth taking seriously
In rough order: a firm number given before seeing the house, a deadline designed to prevent a second opinion, any request for money from the seller, reluctance to show proof of funds, and evasiveness about who is actually closing.
None of these on their own proves bad faith. Together they describe a business model that depends on the seller not asking questions, and the remedy in every case is the same. Slow down, ask the question in writing, and talk to your attorney before signing anything.
What a legitimate Mastic cash sale actually looks like
The buyer sees the house. Each side has an attorney, as is standard in New York, and yours reads the contract before you sign. The deposit goes into your attorney's escrow account rather than to the buyer. A title search turns up any liens, judgments or open permits. Then you close on the date written into the contract.
Three things should never appear in that sequence: a price cut because of an inspection, a different purchaser turning up, or a request for money from you. If one does, call your attorney before you call the buyer back. This is how it works across Suffolk County.
Our own answers to those four questions
You should apply the same four questions to us, so here are the answers without being asked.
We will show proof of funds. Our written number does not move between offer and closing, because we price the condition once rather than discovering it later. You instruct your own attorney. And if you ask whether we will close ourselves or assign the contract, you will get a straight answer for your specific house rather than a slogan.
We also tell Mastic sellers when listing would net them more than we will pay. That costs us deals and it is the correct advice in a meaningful share of the calls we take.
Where your information goes
Sometimes it goes to one company. Frequently it is sold on to several, and occasionally it is sold repeatedly over months, which is why homeowners who filled in one form years ago are still getting texts.
The test is simple enough. Look for a privacy policy and read the paragraph about sharing with third parties. A site that promises an instant offer, asks for a phone number before showing you anything, and has no clear policy is collecting rather than buying. Mastic homeowners get a lot of these.
Assignment, explained properly
An assignment clause lets the buyer transfer the contract to somebody else before closing. The person who signs with you is not necessarily the person who completes, and the difference between what they agreed with you and what they sell the contract for is their fee.
It is legal, and disclosed clearly it can be a perfectly reasonable transaction. Two things make it a problem. One is not being told. The other is that if no end buyer is found, you can reach the closing date with a contract nobody is in a position to complete, having taken the house off the market for weeks.
Ask whether the contract is assignable, ask whether they intend to assign it, and have your attorney read the clause.
What to do if you think you moved too fast
See an attorney, and do it before the next conversation with whoever you signed with rather than after.
People in this position often feel foolish and stay quiet for a while, which is the worst available option because most of what can be done gets harder with time. Bring every piece of paper, including anything handed to you at the door and any text messages. Your attorney will tell you where you actually stand, and it is frequently better than you fear.
Common questions
Are all the companies texting me about my house scams?
No, though a lot of them are not buyers. The largest group is selling your contact details rather than buying property, and a second group intends to sign a contract and sell that contract to somebody else. Real buyers exist in the mix. The four questions above separate them quickly.
Should a cash buyer ever ask me for money?
No. Never, for any reason. There is no legitimate fee, deposit or application payment that a buyer collects from a seller.
They offered more than everyone else. Is that good?
Treat a conspicuously high offer with more care, not less. A number well above the others is sometimes real and is often a way to secure the contract and take other buyers out of the picture, after which it is reduced. Ask whether the figure is binding and whether it can change after an inspection, and get the answer in writing.
Do I really need my own attorney?
In New York, yes, and use your own rather than one suggested by the buyer. It is the single most effective protection available to you, and it is standard practice on both sides of every residential sale in the state.