If the thought of hiring a real estate agent to sell your Phoenix home causes you unease, consider alternative sales tactics. This traditional method helps more people sell their homes than others but certainly isn’t the only option. Real estate investors, also known as cash buyers, buy real estate for cash. They flip the house and make a profit from the sale. It’s a legitimate way to buy and sell real estate, although scammers thrive in the industry.
Selling your home as is to a real estate investor is a great way to sell the property when you need to move the home quickly. People often use cash buyers during divorce, during foreclosure, and when dealing with a problematic home that cannot sell via traditional real estate processes. This includes problems such as tax liens, water damage, roofing damage, unruly tenants/hoarders, and other similar situations.
If you find a great cash buyer, this process offers a stress free, fast way to sell your Phoenix home regardless of the circumstances. People take advantage of this simple process every day in Phoenix and the surrounding areas. Learn what you should look for in a cash buyer so you can easily identify scammers who want to use your current situation against you and take advantage. Knowledge is power and with it you can be sure that your home sells quickly, minus any scams or worries.
The following information guides you through the “We Buy Houses in Phoenix” scams so you can safeguard yourself against the situation.
How to Avoid “Cash for Houses” Scams
One of the first signs that you’re involved with a scammer is when you get a phone call out of the blue from someone claiming to be a cash home buyer. They make their pitch and it may all sound great. The question is, how did they know your situation? Secondly, is the person on the other end of the phone legitimate? You only know the information they’ve provided for you, which may or may not be accurate.
You should also ask these questions when you see the “We Buy Houses” signs along the roads. Before conducting business with ANY cash for homes real estate investor, verify their legitimacy. What is the name of the company? What is their physical address? Can you visit their local Arizona company location? Who owns the company? Is there a website available for more information? Simple yes or no answers help avoid “We Buy Houses” scams in the SE Valley. If the answers yield more “no” than “yes’ answers, you should likely continue the search for a real estate investor. Legitimate companies take care of customers and put their minds at ease. They understand that selling a home is a major undertaking and treat clients with respect.
A reputable cash for homes buyer will answer any questions that you may have. More often than not, they’ll also use a website for marketing. Investors without a website or physical location may have a legitimate reason, but if you do not feel safe and confident, never do business with them. The more information you find about a cash home buyer, the less likely it is a scam.
Run fast when an investor will not answer simple questions. It is obvious you can assume they are hiding information for a reason. You want a company that has nothing to hide, who does what he says, and who takes care of your needs.
If you don’t feel comfortable talking directly to the real estate investor, Google to the rescue. If you don’t find information about the company, question why. Over 90% of the world’s population uses the internet. Question any business that does not. Look at the Better Business Bureau (BBB) website for more information about the buyer. If a company isn’t listed with the BBB or has anything less than a B-rating, it’s a red flag you should not ignore.
I’ll Buy Now!
Reputable real estate investors make their offers after a home inspection. They need information about the property and the current circumstances surrounding the sale before they can make an offer. This is an investment and any cash home buyer wants to make the best decisions for their business. Be wary of any investor who sounds too eager to buy the house before he learns vital information and inspects the property. Never sign any contracts or agreements before you think it over. You should feel comfortable with your decision and buyers want that before you sell the home. Don’t rush or feel that you must rush to sell your home. Avoid sellers that insinuate the need to rush to sell even a distressed property.
The Waiting Game
The waiting game is the worst game to play in the real estate world. Most real estate investors offer deposits as a sign of good faith. However, most want an agreement in place before they’ll hand over a deposit. This is a sign of good faith on your end. If the investor doesn’t provide a deposit, he should offer proof of funds. This ensures that the real estate investor has the cash on hand to buy your house for the amount agreed upon. Gaining trust with your real estate investor is important, but the feeling should be mutual and beneficial for the buyer as well. A scammer may not provide documentation to back up claims and may not offer any deposit. Some investors may need time to secure funding, but they’ll always be upfront about it and will never string you along.
Understand How the Cash for Homes Process Works
You can avoid a “We Buy Homes For Cash” scam if you understand the process and how it should work. It takes little time to find out these important details.
If a real estate investor ever asks you for money, this is a red flag that you should report to the BBB. Whether the investor claims it’s a processing fee or something else, it is entirely unnecessary. Even if it is a small amount of money, do not hand over cash to a real estate investor. Legitimate companies never ask for money.
Ensure the buyer reviews the details of the home, inspects the home, and discusses the details of the property with you. They need the same confidence in their purchase as sellers need when handing over their home to an investor! Cash home buyers like Doug Hopkins want every client comfortable and happy with the “We Buy Houses” process. Therefore, they’ll give you the choice of time and place to meet. They’ll provide you a cash offer in writing and never rush you or pressure you to sign paperwork or decide before you are ready. A good “We Buy Houses” buyer always gives you the option to say no if you decide that selling is not favorable to you.
If you accept the offer made by the “We Buy Houses” investor, you can negotiate closing costs and other fees associated with selling the house. Most buyers cover the fees, so sellers keep all the money they’re entitled to. A good Phoenix We Buy Houses buyer allows you to close on your terms. Most buyers close on deals within 7 days if a seller accepts their offer.
Once you find a qualified cash home buyer in the Phoenix Metro Area, you can sell the property and move forward in life. Selling via an investor saves time, money, and headaches that you would endure during the traditional real estate process. If you need to sell an as is home, contact a Phoenix cash home buyer like Doug Hopkins today.