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What questions to ask a new cash buyer on first call

Your first call with a new cash buyer is crucial for vetting and building a relationship. You need to ask specific questions to understand his or her investment criteria and capacity.

October 28, 2026 · 3 min read

Confirming investment criteria

Start by asking what types of properties the buyer is looking for. Are they interested in single-family homes, multi-family, or commercial? What condition are they usually looking for – heavy rehab, light rehab, or turnkey? Some buyers only want specific property classes.

Confirm his or her preferred neighborhoods or zip codes. Knowing this helps you filter out properties that will not be a good fit. Also, ask about his or her typical buy box, meaning his or her acceptable price range and ARV expectations for a property. This helps you understand his or her investing strategy.

Assessing buying capacity and speed

Ask how many properties he or she typically acquires in a month or year. This gives you an idea of his or her capacity. Then, directly ask about his or her ability to close quickly. Most cash buyers want a fast closing, but it is important to confirm his or her definition of 'fast'.

You can ask about his or her funding source. Is it personal cash, a line of credit, or a hard money lender? Knowing this helps you gauge his or her reliability and speed. While you don't need detailed financial disclosures on a first call, understanding the source of funds is useful.

Understanding preferred property types and areas

Dig deeper into the specifics of property types. Does he or she prefer properties with specific bedroom/bathroom counts? Is he or she open to properties with tenants, or only vacant ones? Some buyers specialize in certain niches, like properties with code violations or those needing specific repairs.

Clarify his or her geographic focus. Does he or she invest in multiple counties or just one city? Understanding his or her boundaries helps you match him or her with the right deals and avoids sending irrelevant offers. It also shows you are listening to his or her needs.

Discussing deal structure and closing preferences

Ask if he or she prefers assignment contracts or double closes. Most experienced cash buyers are familiar with both, but some may have a preference. Also, inquire about his or her preferred title company or attorney for closing. This can streamline the process later.

Discuss earnest money deposit (EMD) expectations. How much does he or she typically put down, and how quickly? This gives you an idea of his or her commitment. Understand if he or she has any unusual contingencies he or she often includes in his or her contracts.

Setting expectations for future communication

Ask how he or she prefers to receive new deal information. Is it email, text, or phone call? How often does he or she want to hear from you? Respecting his or her communication preferences builds a stronger working relationship. You want to make it easy for him or her to do business with you.

Finally, ask for his or her best contact information and confirm when it is okay to send him or her new deals. Set a clear expectation for follow-up. For example, you might say, 'I'll add you to my buyers list and send you properties that match your criteria as they come up.' You are establishing your process.

Questions people ask

Should I ask for proof of funds right away?

You can ask if he or she can provide proof of funds when he or she makes an offer or signs a contract. On the first call, it is usually enough to understand his or her funding source and capacity.

What if a buyer is vague about his or her criteria?

Try to ask more specific questions. If he or she remains vague, he or she might be a less experienced or serious buyer. You can still add him or her to your list but prioritize those with clear criteria.

How often should I follow up with a new buyer?

Ask the buyer directly about his or her preferred communication frequency. Some want daily updates, others weekly. Respect his or her wishes to avoid annoying him or her.