A change in work, impending divorce or falling behind your finances can put your home on the market quick. With the real estate increasing in value, many people want to cash in on their homes and living in a smaller house.
Consequently, we buy houses scams are rampant and scam artists are everywhere waiting and preying on homeowners who can’t pay on their mortgages. Tring to sell you houses in Houston TX and concerned that you might be taken advantage of? This is a concern for many people, and the best way to avoid scams is to learn how to spot scams and avoid them.
The traditional way of selling a house is through a real estate agent and having them list your house. There are cash buyers who buy your home instead. If it is your first time selling a house, it can be overwhelming and scary if done without services of an agent. With this, you are prone to be scammed by these so-called we buy houses scams. Let’s take a look at some tips on how to spot scams and to make sure you are dealing with a legitimate house buyer or agent.
How do we buy houses scams look like?
Scammers are constantly stepping their game up to stay ahead of law enforcement and regulations. Some common types of scams include:
Foreclose rescue scams:
Scams wherein the scammer offers to negotiate on behalf of the homeowner with a guarantee that they can save a house from foreclosure. However, these scammers typically pocket the homeowner’s money instead of paying directly to the financer. Hence putting them behind their mortgage further.
Scam Lawsuit:
Scammers offer to bring in a lawyer to defend on behalf of homeowners. They are offering to get a settlement from the banks then these so-called lawyers will charge a hefty professional fee which the scammer will pocket.
Fake government programs:
Scammers are innovating that they can create websites, brochures or commercials that are designed to make homeowners believer that they are a legitimate company or bank.
How can I prevent myself from being scammed by these we-buy-houses scams?
It is indeed difficult to determine who has the best interest for your welfare. Most of the time there are clues that will hint you of their true intentions.
Fees: If an interested buyer is asking for an evaluation fee just for appraising or evaluation your house, then this person is most likely a scammer. Home buying companies don’t make money from different kinds of fees. They earn their money from buying a house, renovating it, and either selling it at a premium or having it rented out.
Quick Close: There is a due process of selling your house. It should not be done or rushed. Some common mistakes done are signing a contract without the involvement of a title company. It is important you make sure the party you are dealing with is a reputable buyer who will actually close on your purchase .
Information: Documents can easily be faked. It is equally important to have a background check on the buyer and the documents he is providing. It is better to be sure who you are dealing with rather than losing your home by these so-called we buy houses scams.
How to Avoid these We Buy Houses Scams
Do your research:
With some quick research, you can determine the background of a company or a real estate agent. It is important to deal with companies who have been in the industry for a long time because they are stable and well experience to know the recent developments in the real estate industry. Scammers rarely stay long because of negative reviews or complaints from other clients. Make sure to look for online reviews or testimonials of clients that have dealt with a specific agent or house buying company. Lastly, don’t sign documents you don’t understand. It is a very common sense but not a common practice. Legitimate housing buying companies take their time explaining everything to their client.
If you feel that something is wrong, then trust your gut.
Conclusion
After reading this article, you should be aware of the signs of potential we buy houses scams. Given the knowledge, you are now ready to find a buyer that will treat you fairly.
Selling your house and want to get a fair cash offer of you Houston TX house, FastCashHomeBuyers is always there for you in Houston. Give us a call at {281-816-4627}. We would be glad to answer any questions you have and assist you in any way we can.
