KNOXVILLE, Tenn. (WATE) — If you own a home, it’s likely you have received unsolicited offers to buy your place. The opportunity to make money fast may be tempting, but you want to be aware of those who offer vague agreements because there might be some hidden fees.

Each county in Tennessee has a register of deeds office, which is responsible for handling deeds and other documents related to property transactions. The information is public record. That’s why you may have received offers for a home; Julian Burke certainly has.

“I have here a box of mail that I have received within the last year,” said Burke. “Every day, I get letters, cards, phone texts and everything. They want to buy my house.”

Burke, a retired salesman, owns several pieces of property in Knoxville, including one in West Knoxville. He neither lives in it nor rents it. However, he’s been sent a big cash offer for the property. Another offer he received was labeled urgent and said he must act now.

Beware of these red flags in an unsolicited offer to buy your home

“‘Urgent notice. Approved cash offer for your property. We do it all.’ Then they have a picture of my house showing how much it could be sold,” said Burke. ‘Urgent notice. Approved cash offer for your property. We do it all.’ Then they have a picture of my house showing how much it could be sold.”

Burke went through some of the postcards and letters that have filled his mailbox.

“Many of them are from out of state. You just name it: Austin, Texas. What’s this? Villa, Indiana, never heard of that place. It’s a P.O. Box,” said Burke. “Here is one that says they’ll give you a free Amazon gift card if you do something with them. Here is another one, Montrose, California. They are from all over the country wanting to buy property here in Knoxville.”

Since many of the offers he receives are for the West Knoxville property, he’s learned some facts about out-of-state offers.

“The contract you sign with them has a clause in it that they have the right to sell it to a third party, that’s the important part,” said Burke.

Tanner Giles is the president of a local company called Your Home Sold Guaranteed Realty. He and others in the company are licensed real estate agents. Giles is familiar with the pitch that many of those out-of-state agencies were offering Burke. He said it is important to ask the company if they are the ones buying the home or if they are assigning it to someone else.

“When we come out and start working with a customer, we go through the options. It is not a one-size-fits-all for everybody,” Giles said. “Some people want a cash offer, and we can provide that. Some people are in a situation where they have to sell right now. They are going through a divorce, there has been a death, things happen in life, and they just need to move on.”

Local companies like Your Home Sold offer what is called a Guaranteed Sale Program.

“What we do is your home will sell guaranteed. If not, we’ll buy it. That allows you to move up to the next home you want to buy without the hassle or contingency of selling your home,” said Giles.

Giles said there are red flags to be aware of:

Be cautious of offers that come out of the blue.
Be wary of offers that promise high payouts upfront.
Avoid accepting an offer quickly, leaving little time to consider your options or review the contract.

“If you are going to sell your property, find a bona fide real estate agent that knows what they are doing. Local, they know your local properties,” said Burke.

Knoxville’s real estate market is constantly shifting, and so is the market in Anderson, Blount, and Sevier counties. However, cash is still king. In 2024, approximately 29% to 30% of home sales were all cash, on par with the national average. Some cash home buyers in Knoxville offered sellers 100% of their home’s market value, while others offered just 40%.

If you get one of those solicitations in the mail, as Giles suggested, ask questions before you make any decision. In the end, you will be better off for it.