Essential Tips to Avoid We Buy Houses Scams

Regardless of the city you live in, you’ve certainly seen billboards mentioning three words: ‘we buy houses.’ Sometimes they appear with an additional word, such as ‘we buy distressed houses’ or ‘we buy old houses.’

The advertisers can be anyone. They can be legitimate investors, wholesalers, flippers, or a team of people looking to take advantage of homeowners who’re going through a stressful time.

Usually, if you’ve got an unwanted or distressed house that you want to sell quickly without dealing with the expense and trouble of selling it on the traditional market, joining hands with these people can be a wise decision.

A legitimate ‘we buy houses’ company can quickly buy your house and save you significantly on agent commissions, closing costs, and fees. But there’re people who use these kinds of advertisements to scam homeowners out of their houses.

Here’re some tips that you must consider when selling your home to a ‘we buy houses’ company in order to protect yourself.

Research the Company

The first thing you need to make sure is the company is a legitimate one. Be sure to locate its office(s) and check whether or not it has the proper licenses required to run the business. You also need to check its website, any other kind of online presence, business history, testimonials, and Google reviews.

Most probably, your home is your largest investment, and you must not solely rely on advertisements when selling it. So, try to find out as much background information as you can before proceeding ahead with a ‘we buy houses’ company.

See If There’s Bait And Switch

Once a dishonest ‘we buy houses’ company receives your contract, they usually start pulling shenanigans. For instance, they may have initially agreed on a price of $90,000, but at the last minute, they call and tell you that they can only pay $70,000.

If you’ve to move immediately or are facing foreclosure, you might be forced to accept the new price. But if you don’t have any such urgencies, you should strictly avoid these kinds of deals and start searching for a reputable ‘we buy houses’ company.

Watch Out for the Timeframe of the Transaction

Generally, a good ‘we buy houses’ company should be able to close on your house in around two weeks, which is also a reason you’re making the deal. However, if a company cannot guarantee some kind of a reasonable timeframe to close the deal, it won’t be a prudent decision to proceed ahead with it. You may end up having the contract for the unforeseeable future without any recourse.

Go Through the Contract Carefully

This is your house, and you’ve got all the rights to get clarifications and ask questions. No matter how lucrative the offer is, take time to carefully read the contract and understand each of the sections. If possible, have a real estate professional or attorney look at it.

A legitimate ‘we buy houses’ company should never have anything to hide in the contract. Therefore, don’t sign the contract unless you fully understand it.

 

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Estefania Castaneda
Estefania Castaneda
17:24 04 Sep 21
Extremely pleasant, attentive to all my needs always. It was a pleasure renting an apartment from Ken.
Vichai Soysouvanh
Vichai Soysouvanh
14:17 03 Sep 21
Can't say enough about Ken and his team. This was the most seamless sale I made. I didn't have to deal with all the... nonsense that comes with selling your home. They bought my house as is, I didn't have to declutter and pay a broker commission. All in all great experience, will do business again.read more
Niki Keser
Niki Keser
17:46 06 Aug 21
I had a wonderful experience renting one of their properties for 7 months. The apartment was beautifully remodeled and... Ken and his team were always responsive to any needs. I would recommend to anyone looking to sell or rent.read more
YASMINA VASQUEZ
YASMINA VASQUEZ
15:13 02 Aug 21
Ken and his team were professionals ,they promised and they delivered or anything
Alfredo Garcia
Alfredo Garcia
03:20 17 Jun 21
Selling my property too Ken was the best thing I did. Although I was skeptical at first I soon found out how... professional he was. Even though my closing contract was not standard because of the pendemic situation. He followed through on time with all the contract terms as promised. Thank you Ken for your professionalism.Alfredo Gread more
Vishrut Patel
Vishrut Patel
23:27 19 May 21
Ken was referred to us by someone who had sold their home thru Ken last year. From the first meeting to the last... transaction, Ken and his team were professional, efficient, easy to work with, and above all.... caring. Each seller's situation is different, and Ken truly understands that. We were treated with respect each time.Since we were in a time crunch situation, selling our home with a cash offer from Ken was the best decision we could have made. We were perfectly okay with getting slightly less money for our home as compared to selling it via an agent. But if you consider the money saved on agent commissions (both buyers and sellers), closing costs, repair costs, attorney fees, and most important of all... time and headache, you can't beat the option to sell your home with a guaranteed cash offer from a reputable buyer like Ken.My wife and I were very pleased with our experience with Ken. If you are in the market to sell your home fast for a cash offer, I highly recommend giving Ken a call!Best of luck!Vishread more
Christopher Martino
Christopher Martino
14:19 10 Mar 21
Ken and his team were great. They were easy to work with, professional, and responsive. If you are thinking of selling... your home they offer a super easy process.read more
Chelsea Grant
Chelsea Grant
15:36 03 Jan 21
I am a travel nurse and stayed in a town home for 3 months... It was exactly as described and any issue that came about... was handled within a few hours - I would definitely recommend and I would definitely stay again!read more
Aaron Zachko
Aaron Zachko
12:41 14 Aug 20
Amazing experience! Ken was upfront, quick and got the deal done in no time. Having done a number of real estate... transactions this was by far the easiest and smoothest. I would unconditionally recommend him to anyone looking for an easy, quick and fair transaction.read more
Joseph Tricarico
Joseph Tricarico
19:10 26 Mar 20
Ken is a very professional individual from start to finish. As promised, he gave me a fair deal on my one of my... properties that was in rough shape. He was knowledgeable and responsive to my requests and as promised we didn't need to waste time with inspections and appraisals and we closed quickly. He made it painless as possible by having his crew handle the clean up. This was truly a quick and easy process but a professional individual. Thanks Ken!read more
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