Homebuyers make an attractive target for scammers because they often need to sell their homes fast and may not be familiar with the process. Some unscrupulous individuals will pose as cash buyers in order to take advantage of these homeowners. There are a few key things to look out for that can help you avoid becoming a victim of a “We buy houses” scam.
These companies are usually legitimate businesses. But there are also some scammers who use this same signage to try to trick people into selling their homes for much less than they are worth. There are warning signs out there that you need to be aware of.
Table of Contents
• Are Companies That Buy Houses For Cash Legit
• Why Do I Keep Getting Offers To Buy My House
• Fake House Buyers
•How To Avoid We Buy Houses Scams
➥Warning Signs That They Want To Scam You
•What Legal Documents Should I Have
•Pros And Cons of a Cash Offer On a House
• Best Companies That Buy Houses For Cash
Are Companies That Buy Houses For Cash Legit?
“We Buy Houses” is sometimes called Cash Buyers. They are a legitimate company to sell your house.
Cash Buyers is a legitimate business that buys houses directly from homeowners. You don’t have to go through a real estate agent, and you don’t have to pay any fees or commissions. They will even pay for all of the closing costs.
This company will purchase your home as-is which means that they will take the property in whatever condition it is currently in, without requiring any repairs or renovations to be made beforehand.
Why Do I Keep Getting Offers To Buy My House?
You may be wondering why you keep getting letters or calls from companies offering to buy your house. It’s because these companies get your contact information from public records.
They may also target homeowners who are going through a divorce, have recently inherited a property, or are facing foreclosure.
These homeowners are often in a situation where they need to sell their house quickly and may be more likely to accept a lowball offer.
Fake House Buyers
Fake Cash buyers usually will make an initial lowball offer for your home. They may even tell you that they need to buy the house quickly and ask you to sign a contract immediately.
If you do agree to sell your house to one of these buyers, you could end up losing a lot of money. Therefore it’s important to be aware of these scams and know how to avoid them.
How To Avoid We Buy Houses Scams
Scammers will often pose as investors who want to buy your house for cash. They may even say that they are with a legitimate company. However, these scammers are only interested in taking your money and not actually buying your house.
Avoid “We Buy Houses Scams” by being aware of the common tactics used by them. If you are ever in doubt, consult with a professional or do your own research to make sure you are working with a legitimate company.
Here are some tips to avoid these scams:
1. Do not sign any contract without a lawyer
2. Beware of any investors who want to give an unusually low price for the home
3. Do not let anyone pressure you into making a decision quickly
4. Do research on We Buy Houses Company before working with anyone
5. If it sounds too good to be true, it probably is. Be wary of anyone promising to pay all closing costs or buy your house for significantly above market value.
Warning Signs That They Want To Scam You:
- They are not interested in touring the property.
- They give you a lowball offer without even seeing the house.
- They ask you to sign a contract immediately.
- They don’t have any reviews or testimonials.
- They are not interested in negotiating.
If you think you may be a victim of a We Buy Houses scam, contact your local law enforcement or the Federal Trade Commission to file a complaint. You can also report the scam to the Better Business Bureau.
What Legal Documents Should I Have?
If you have been the victim of a We Buy Houses scam, you may be able to get your money back. The best way to do this is to hire a lawyer and file a lawsuit against the company.
You may also be able to file a complaint with the Better Business Bureau or your local law enforcement.
1. A copy of the contract you signed
2. Email correspondence
3. Phone records
4. Any other relevant documentation
Better Business Bureau is a nonprofit organization that helps consumers find businesses they can trust. They also provide a platform for businesses to resolve customer complaints.
Pros And Cons of a Cash Offer On a House
There are both pros and cons to selling your house for cash.
Some pros of selling your home for cash include:
-You will usually get a higher price for your home since there are no real estate agent fees or commissions to pay.
-You can close on the sale of your home much faster than if you were to sell it through a real estate agent.
-You don’t have to worry about repairs or cleaning up your home before selling it, as many We Buy Houses companies will buy homes as-is.
Some cons of selling your home for cash include:
-You may not get as much money for your home as you would if you were to list it with a real estate agent and sell it on the open market.
-There is always the risk that the We Buy Houses company may back out of the deal or not follow through on their offer.
-You may have to pay some fees, such as closing costs when you sell your home for cash.
Best Companies That Buy Houses For Cash
Colorado Cash Buyers is one of the best companies that buy houses for cash. We are a locally owned and operated business with years of experience.
We offer a fair price for your home, as well as a quick and easy closing process. We also don’t charge any fees or commissions, so you can keep more of the money from the sale of your home.
If you’re interested in selling your house for cash, contact us today to learn more about our services. We would be happy to answer any questions you have and provide you with a free, no-obligation quote.