If you are trying to sell your house, chances are, you might stumble upon a scam. There are numerous types of scams out there and they are quite easy to spot. This should encourage you to be more vigilant when looking for potential buyers. Now, it’s very annoying to see that “We Buy Houses” scams have been becoming popular these days. These scams are fraudulent real estate schemes where individuals or fake companies act as cash buyers where they quickly offer to purchase homes for a low price. They intend to trick homeowners to sell their houses at significantly lesser than their real market value. Want to know how to avoid we buy houses scams? Here are some tips to get started.
Look into the Company
One of the best ways to avoid getting scammed is to look into the company’s credentials. Search the company online and they should have their website for you to get more information. Check its reviews and testimonials to see if they have satisfied customers. It is also advisable for you to check if the company is licensed and registered to operate in your state. Furthermore, you may also need to find out if they have a physical address. A legitimate company usually has a physical office with a verifiable address.
Get Multiple Offers
When you sell your house, you may want to get the best deal out there and it also avoids scams. It allows you to compare and evaluate different offers before making an informed decision. This will prevent you from being taken advantage of by a single company or individuals who try to get your property at the lowest rate. By having multiple offers, you get to prepare your house for selling and assess the best value.
Watch Out for Their Tactics
We buy houses scammers typically have their techniques to get you to give in. Here are some of the common tactics that they use:
- High-pressure sales tactics: They may use urgency and pressure to try and get you to agree on a swift sale without properly evaluating the property’s value.
- Lowball offers: Scammers may offer a drastically low price than how much your property is worth, often without looking into the property’s appraisal.
- Request for upfront fees: They may also request an upfront fee immediately for inspection and appraisal before the sale is even complete.
- Signing over the deed: Before you could receive payment, watch out when they ask you to sign over the deed where you transfer ownership.
Read the Contract Thoroughly
This may be obvious but to really avoid scams, you must read and understand the terms and conditions of the contract before signing the deed. This helps you avoid any hidden clauses or unfair terms in the agreement. By doing this, you have the right to not sign if you do not like what’s in the contract.
It’s always important for you to do your research on your potential buyers before signing any agreements and deals. As a homeowner, ensure that you are making a deal with a legitimate buyer and not anyone from “we buy houses” scammers. If you need further help, always consult a professional to lend you more tips on avoiding scams. Don’t be afraid to contact us at Simple House Buyers!