When it comes to\u00a0selling your home, the internet can either be your best friend, or your worst enemy. Unfortunately, the housing crisis of 2008 opened the door for a plethora of \u201cwe buy houses for cash\u201d scammers to enter the market, leaving honest home sellers very vulnerable. Living in today\u2019s digital age, it is more important than ever to understand the difference between a scam vs. a legitimate offer, and what to look for when shopping for offers to sell your home. Sometimes you can even be hit with ads when you\u2019re not looking to sell your home, leaving you wondering \u201cWhy am I getting unsolicited offers to buy my house?\u201d Not every scam is as easy to spot as the classic \u201cYour home is worth millions if you click now!\u201d pop ups, but there are a few tell-tale signs of a \u201cwe buy homes\u201d ripoff that you can look out for.<\/p>\n

1: Upfront Costs<\/h3>\n

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Say you see an advertisement for \u201cWe Buy Homes For Cash\u201d – be it a popup ad on your computer, a sign on the street, an ad on TV, etc. – so you call the number to inquire about selling your home. If the \u201cbuyer\u201d on the other end says there\u2019s any sort of upfront \u201cadministrative\u201d or \u201cprocessing\u201d fee you need to pay for them to provide you with an offer, hang up! This is a sign that they\u2019re likely a scammer and not a legitimate broker, trying to dupe you with a we buy houses ripoff scheme.<\/p>\n

In a home sale transaction, the money should always flow towards the seller, not away. This means that any legitimate real estate buyer should not be trying to entice you to send any sort of funds to them, even in small amounts; after all, it is you who is selling the home!<\/p>\n

2: No Professional Details<\/h3>\n

<\/p>\n

The home buying business deals with large sums of money, so it\u2019s critical that your buyer is able to provide authentic and legitimate credentials around their business. If they seem to be unwilling to do so, it may be a red flag that they\u2019re trying to trick you into one of their we buy houses scams. Some easy things to look for to ensure professionalism include:<\/p>\n

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• Credentials! First and foremost, you should\u00a0make sure they have certifications\u00a0ensuring they have business being in the business of buying houses. Always ask yourself \u201cAre those we buy houses legitimate?\u201d and ensure you can confidently answer YES!<\/li>\n
• Do they have a website? An authentic home investment business should have an established website that you can refer to, listing out their experience and referencing their buying history.<\/li>\n
• Are they able to provide you with references? If they\u2019re legitimate, they should be eager to provide you with some of their history in the market to showcase their authenticity and success rate as someone you\u2019d like to do business with.<\/li>\n
• How easy are they to contact? Are you having to go through a third party source to reach them? Are they online only with no phone number or business address to reference? Real buyers who are looking for homes on the market should be making themselves accessible and easy to reach, not the other way around.<\/li>\n<\/ul>\n

  3: Pushy Timelines<\/h3>\n

  <\/p>\n

  The average\u00a0\u201cWe Buy Houses\u201d process\u00a0should take about 1-8 weeks. If a \u201cbuyer\u201d starts pushing to buy your home as quickly as possible, urging you to sign immediately and pressuring you into the situation, there is definitely cause for concern. A reputable investor or cash buyer should be more interested in understanding the full scope of the situation that has led you to want to sell your home, working to gather all the information including the original build of the property, legal rights tied to the home, photos of the interior, and so on.<\/p>\n

  Afterall, they are the ones who are preparing to make a sizable offer for your property, so they should be interested in ensuring their dollars are going towards a viable business decision. Would you want to put tens of thousands of dollars into a situation you don\u2019t understand fully? Of course not. This is why it\u2019s crucial to watch out for the details to make sure you aren\u2019t duped by a we buy houses ripoff scheme.<\/p>\n

  4: Waiting. Waiting. Waiting.<\/h3>\n

  <\/p>\n

  On the flip side, you should not be left waiting to hear back from your investor on next steps, as they may be stringing you along in one of their we buy houses scams. A genuine buyer may be looking to offer you an initial deposit as a sign of good faith or as a way to establish a baseline agreement between you for the buyer-seller relationship. Or, they may provide you with proof of funds as another method to establish their credibility as a serious offerer. The start of the relationship should work to establish credibility, trust, and intent for follow through for a mutually beneficial business transaction.<\/p>\n

  On the flip side, you should not be left waiting to hear back from your investor on next steps, as they may be stringing you along in one of their we buy houses scams. A genuine buyer may be looking to offer you an initial deposit as a sign of good faith or as a way to establish a baseline agreement between you for the buyer-seller relationship. Or, they may provide you with proof of funds as another method to establish their credibility as a serious offerer. The start of the relationship should work to establish credibility, trust, and intent for follow through for a mutually beneficial business transaction.<\/p>\n

  5: The \u201cGut\u201d Check<\/h3>\n

  A lot of the time, intuition plays a bigger factor than people give credit to.\u00a0Home investors\u00a0tend to want to cultivate a positive relationship with the seller, working to make them feel comfortable with the transaction and happy to address any questions about the process. They tend to have experience with customer service and client management, understanding how to provide a positive experience as a potential investor for your home. Unethical we buy houses scammers are out there, and more often than not, they will show their true colors if you give them the time to.<\/p>\n

  If a potential home-buyer starts to come across as brash, short tempered, or impatient, it is likely a sign that they may be one of the fake house buyers trying to push you into their scam as opposed to being genuinely interested in purchasing your home for the value it deserves. Your questions deserve to be answered, and you should always feel comfortable throughout the process without worry of being snapped at or shut down. It is well within your right to feel completely comfortable with your decision to sell before signing the dotted line.<\/p>\n

  Summary<\/h3>\n

  In summary, an authentic \u201cwe buy houses\u201d investor will look like:<\/p>\n

  \n
  • Someone who isn\u2019t trying to impose costs on you<\/li>\n
  • Someone who is happy and eager to provide you with their credentials<\/li>\n
  • Someone who isn\u2019t trying to get you to decide too quickly<\/li>\n
  • Someone who doesn\u2019t leave you waiting<\/li>\n
  • Someone who makes you feel comfortable and confident doing business with them<\/li>\n<\/ul>\n

    If you\u2019re looking to sell your house the right way and want to see how cash offers for houses are legit, reach out to one of our sales representatives at 26 Holding Group. We pride ourselves on transparency and honesty throughout our purchasing process, with a team of qualified real estate professionals who are trained in best-in-class customer service to ensure you receive the home selling experience you deserve. To learn more about how we do business, read about our process or call us at (800) 715-2410.<\/p>\n<\/div>\n

    This guide is meant for general informational purposes only and is not intended to be used as financial, tax, legal, real estate, insurance, or investment advice.<\/div>\n","protected":false},"excerpt":{"rendered":"

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