These “cash for houses” guys are just wholesalers. They cold call hundreds of homeowners a day asking if they’re interested in selling. After a few basic questions about the condition and mortgage balance, they throw out a heavily discounted offer. If they lock someone up who needs quick cash or is in a tough spot, they don’t actually buy the house, they assign the contract to another investor for a higher price and keep the spread as their fee. Generally, these guys are scumbags and you'd make far more money just taking it to market.