You get a random phone call from a company that claims to be a trustworthy cash home buyer, or maybe you see signs posted saying, “we buy houses for cash.” You might be wondering if this is real or just another scam, for they make it seem too easy to sell your house. Are you buying or selling your home and only want to deal with cash buyers? Read more here on how to find cash buyers from fake real estate buyers.
Types of Real Cash Buyers
You cannot simply go wrong when selling your house–your largest investment. Here are Six ways on how to find cash buyers from a scammer:
1. Identify Legitimate Home Cash Buyer
You might have been searching on the internet “how can I sell my house fast” and how to finding cash buyers from many companies promising this and that. Unfortunately, scammers do exist, and many have fallen victims to fake cash buyers. But you should also know that legit cash home buyers offer a convenient and fast way to sell home fast.
2. A Clear Purpose In Purchasing Your Home
Knowing what makes a cash buyer want to buy a home is one way to determine whether they will give a legitimate offer. A company such as the Cincinnati House Buyer gives clear information on their business model and how an offer on your house fits into their plan to update and resell your house, as you can see on their website.
Beware of opportunity investors as they are most likely scammers. They usually focus on telling a seller that they can save them from their financial difficulties but fail to tell you or are unclear on what they will gain from purchasing your house.
3. No Upfront Fees Involved
In conventional real estate transactions, no cash is exchanged before the closing. This is also true for trusted cash buyers. Therefore, it is an automatic red flag if a seller asks you to pay fees upfront.
It would help if you also were wary of independent buyers who readily give financial information without being asked. This document might be fake and all part of their activities, so you can trust them and push a contract along. A real estate scammer might even pay a seller with a check unprompted and then say that they paid too much and demand a refund. However, the check didn’t clear.
4. Offers Reliable Means To Communicate With Them
A legitimate home cash buyer gives you reliable ways to contact them directly, usually a phone number and email address for one point of contact. A company that’ll pay cash for homes seriously should also have a trusted website that includes the information that can lead you, a seller, to their main contact.
Should there be any doubt about communications, for example, a suspicious email, a seller should talk to their contact through a phone number they’ve used before receiving the email to make sure that the email is legitimate. The contact person should also not have an issue explaining any changes or requests made by the seller. You, as the seller, should not feel pressured into doing something you are not comfortable doing.
5. Visits the House Before Finalizing the Offer
A physical visit of the house is often necessary for a buyer to assess its value, adjust their original offer, and develop the final price. Real estate cash buyers will tell you this even before the selling process begins. If a buyer risks not visiting a home before buying it, you, as a seller, should carefully read the contract to ensure that the risk does not fall back on you.
6. Buyer Has Many References and Money
Reputable real estate investors like the Cincinnati House Buyer will give contact information for people they have bought from in the past. However, if they cannot provide any references or refuse to share them, chances are you are dealing with a fake real estate agent. Also, remember that most reputable cash buyers are well-connected and have established that they have immediate access to the cash they’ll need to buy your house. For instance, the twins come from a well-known family in Cincinnati and have the cash to buy your house immediately.
When choosing a company that buys the house for cash, it pays to do your due diligence. Only go with someone reputable to make sure you get a fair offer and ensure the entire process runs smoothly. We hope our advice about how to find cash buyers and avoid fake house buyers is helpful to discover a genuine house purchasing business, whether you choose to deal with the great folks at Cincinnati House Buyer or sell to another firm.