Not all of the companies that claim to buy houses for cash is a scam, but you need to be able to spot when they call. Most often the scam artist will prey upon someone that is in a situation where they need to sell a house quickly. Hundreds of thousands of people around the country have reached out to a company that buys houses and the majority of them, not a scam. However, even though there is almost no chance of falling victim to a scam, you’ll still want to see the signs of a we buy houses scam.
If you have been or are in a situation that is forcing you to sell your house quickly, it’s easy to see why it would be appealing to simply let the first “we buy houses” company you hear about take the property off your hands. However, it’s important to realize that even though you are in a situation that you need to sell quickly, there are people out there that are looking to take advantage and scam you. As you read through this blog post, you’ll be a little more prepared to spot a scam and protect yourself from them.
Pay serious attention to your purchase and sale agreement.
You most likely already know how important it is to get everything in proper writing upfront before signing your name to any agreement. This couldn’t be more true, especially when you’re selling your house. Don’t let your need to sell your house quickly mean that you overlook the need for a professional purchase and sale agreement.
Read over the agreement presented to you thoroughly. Do you understand everything about it? Is there anything about it at all that seems fishy? Don’t ever sign your name to a document until you’re 100% sure it’s on the up-and-up. Have your lawyer look at it. (Even your mortgage company can help you in a pinch.) A we buy houses scam often finds the buyer rushing the seller when it comes to actually signing on the dotted line and with good reason. They don’t want you to read the contract (if there is one at all), or don’t ask any questions.
Make sure the buyer is accredited
These days, it can be difficult to know who you can trust. A person or organization doesn’t necessarily need to be legitimate to look legitimate at a casual glance. After all, anyone can put up a website, have a few business cards printed up, and market himself as a professional home buyer. Is it any wonder that a “we buy houses” scam is so common these days?
Always make sure everything about the buyer checks out under scrutiny. Established, legitimate businesses are part of the Better Business Bureau. Or at the very least apart of the local chamber of commerce or even a real estate investors association (REIA). They also have a real business history and a solid reputation that will actually scan when you do your research.
Work with a buyer that treats you like a person, not a transaction.
Often, perpetrators of a”we buy houses” scam see homeowners as a potential target, not valued customers to be treated with respect… and it shows. That said, never do business with an individual or company that makes you feel like you’re just a potential paycheck and not a human being.
Is the agent gracious and does he come across as caring or even wanting to help you with your situation? Is he/she easy to reach? Is he/she professional — quick to return your calls and patient when it comes to answering your questions? Does he/she make you feel good about doing business with him or does he make your internal red flags start waving? If your agent doesn’t make you pause… does his company? Trust your instincts. They’re usually correct.
Work with the actual buyer on a one-to-one basis.
Last but definitely not least, you’ll want to make sure that you’re working directly with the person or entity that will be purchasing your home. A “we buy houses” scam will find you working with someone that is looking to steal your money and maybe your house. They never use a title company or a real estate attorney to close the transaction. And if that’s the case, you will be spending time and money trying to get your property back through the courts. Sometimes, the buyer you are working with, your house may not fit their criteria and may sell their rights to purchase your house to another buyer (this process is called wholesaling) and the new buyer will close on your property. The contract will remain the same and you will still get the amount and other terms that were agreed on in the original contract. The title company is still looking out for all parties involved so that no one gets screwed in the transaction.
Don’t let the need to sell your home quickly find you falling for deals that sound too good to be true or believing that you don’t have any other options than the raw deal a potential scam artist is offering you. There are professional and very helpful home buying companies right here in the Reno area. Just take the time to make sure you’re dealing with one before you finalize your decision.
Work with a local home buyer that understands your real estate needs.
We understand that selling your house is a scary and stressful time for you. That’s why we’re here to answer any questions you might have about selling your house quickly. At Envy Property Solutions, we’re here to help you. Are you ready to sell, or just have a question? Give us a call at (775) 391–5236. We’ll give you a no-obligation cash offer to help you sell your house and not getting scammed!