Doing business with house-buying companies can mean selling your property to trustworthy home investors for reasonable profit. It can be the best way to sell your home quickly without making repairs or doing lengthy paperwork. However, like all industries, there are scammers who masquerade themselves as professional house-buying companies. The goal of these individuals is to purchase your property for dirt cheap. So how can you determine the difference between legitimate companies and scammers?
Characteristics of house-buying scammers
Luckily, there are a few ways to identify house-buying scammers prior to making a sale. Before signing off your house to any company, take a look at our criteria and make an informed decision. Of course, the last thing you want is to sell your house for an unfair, rock-bottom price.
Vague professional presence
Firstly, how did you get in touch with these individuals? Do they have a website or online reviews? If they have cheap or free advertising – such as a vague handwritten roadside sign – try searching up their number. Additionally, if they don’t have a website or any online presence at all, that may be a huge red flag. It’s always best to verify that they’re a legitimate business before initiating a sale.
Poor communication skills
Secondly, how are their communications skills? Do they ask a lot of questions about the home, or do they seem uninterested in the details? Businesses that don’t try to learn about the property may not be interested in giving you a reasonable price. Instead, they may offer you a purchase price remotely. If they don’t even attempt to schedule appointments with you, don’t bother dealing with them. House-buying scammers try to purchase the property with little effort expended on their part.
To add on to this point, ask yourself if they’re pushing you to sell your home. Legitimate cash house buyers are speedy, but will never try to make the seller feel pressured into accepting a deal. The process should feel clean, professional, and stress-free. Did they hire an attorney to fast-track the transfer of title without consulting you? This is a huge red flag. Ideally, legitimate cash house buyers always consult with you throughout the whole process. House-buying scammers, on the other hand, will not give you time to think.
Thirdly, how are their credentials? We touch on this a little in the first point when we discussed reviews, but legitimacy goes deeper than testimonials. Can they produce the necessary financial documents needed? Or do they throw bank statements and vague account numbers at you? If they offer too much personal information on the “legitimacy” of their finances, they may be out to scam you.
Characteristics of legitimate house-buying companies
In this section, we will go over the general traits of a legitimate house-buying business. In the previous three points, we discussed professionalism, communication, and credentials. We’ll go over the same three criteria, and tell you how a good company presents itself.
Easy-to-find professional presence
To start off, legitimate cash house buyers often have a website or online profile to share their past reviews. They won’t hide themselves or their track record. A great indicator of a legitimate business is locality. Companies within the community know all about the area and aren’t likely to rip you off.
Secondly, legitimate house-buying companies are incredibly transparent throughout the whole process. Before purchasing a home, they’ll always try to visit, whether by attending open houses or viewing the home multiple times. Of course, they’ll inquire about the property, including repairs needed, cosmetic changes made, the house’s history, etc. This is because cash house buyers truly love flipping homes and want to be well informed before committing to a sale.
As mentioned previously, a huge red flag of house-buying scammers is if they pressure you into a sale. Legitimate cash house buyers are only interested in doing business if you’re all in. They will never try to force you into any deal. Additionally, professional cash house buyers won’t contact you through a third party such as an attorney. One-on-one communication is important to legitimate businesses, particularly local ones.
Finally, be positive on the legitimacy of their credentials. If they can produce legal financial documents prior to making a purchase, they are legitimate. In fact, cash house buyers encourage you to ask them about the process and paperwork needed. Just like you, legitimate businesses are only interested in a streamlined, painless purchase. There should be a natural feeling of mutual trust and professionalism.
Selling your home in Macomb County? Deal with us!
On the topic of professional cash house buyers, consider doing business with us! We purchase property in the Oakland and Macomb Counties for a fair price. Please feel free to explore our website for more information. If you’d like a tentative cash offer for your home, you can do so on our home page. For inquiries or to do business, don’t hesitate to shoot us a call at (586) 200-1710.