Tips To Tell Fake and Legit Home Buyers Apart
Not long ago, putting your house in the market was the only option you had to sell a home. Thanks to new technology and online resources, now there are faster and more innovative ways to sell your house.
A real estate investor, or all-cash buyer, is a company that buys properties as-is and for cash.
Their business is to buy houses and create revenue out of the sales afterward. Moreover, homebuyers don't depend on lender financing to purchase properties; thus, they can close deals faster.
If you're thinking of selling your house to an investor, you need to beware of scams. While most homebuyers are reputable, many shady companies out there take advantage of homeowners under challenging circumstances.
In this blog, you'll learn tips on how to differentiate authentic home buyers from scammers.
Signs Your Cash Buyer May Be A Scammer
1. The investor has no references.
Reliable investors can give you the contact information of people they've bought houses from.
2. The buyer is foreign.
There is less chance of scams when you work at a locally owned and operated home buying company.
3.The investor wants to buy your home sight unseen.
Besides asking you for your home's necessary information, a reputable home buyer will likely schedule a home visit before closing the home sale.
4. They ask you to pay fees.
Take into account that all-cash transactions are final and don't require closing costs and extra fees. Beware of home buyers that ask for hefty "processing" or "administrative" fees.
5. The buyer is too eager to purchase your home.
Reputable homebuyers have strict no-pressure policies. This means that you can take as long as you want to accept or decline their no-obligation offer. Buyers that pressure you into making a decision are a clear red flag.
6. The company isn't listed in the Research Better Business Bureau (BBB) Ratings.
The Better Business Bureau has online ratings and reviews for thousands of companies in the housing industry. If the company is listed with an A rating, then that's a good sign. If the company doesn't exist in the BBB, that could be a red flag.
Selling Your House to All-cash Buyers: How it Works
The best way to avoid a scam is to understand how a legitimate cash buyer transaction is supposed to work.
1. Search for a trusted home buying company near you
Give them a call and provide them with the necessary information about your home, including its location and size.
2. Get Your Offer
They will evaluate your property and neighborhood, and if it meets their buying criteria, they will present you with a fair, cash offer.
3. Get Paid
If you choose to accept their no-obligation offer, they will let you choose the closing date.
Sell to a Trusted Home Buying Company
Unlike fake homebuyers, A legitimate home buying company should help you make the best of a difficult situation. If you plan to sell your home soon, look for Charlotte's Legit Home Buyers that care for their customers and what they need. Ultimately, you ought to feel good about the home sale and walk away better off than you were before.