A Complete Guide on How to Spot and Avoid “We Buy Houses” Scams

A Complete Guide on How to Spot and Avoid “We Buy Houses” Scams

Impending divorce, a new job, financial crisis, relocation, or legal matters; anything can be the reason that leads to selling a home quickly. When it comes to selling a home, most people approach a real estate agent to put their home on the open market and help them find a buyer.

Well, this process is not only time-consuming but also expensive. If you’re also familiar with only this method of selling a home, then you’ll be surprised to know there are other, easier options too!

A real estate investor like Detroit Cash For Homes is the best option when wanting to sell a home fast. We offer fair cash for homes in Oakland County with an easy and quick selling process. Also, we don’t ask for any commission, repairs or renovations. This way, we save both your money and time.

Although selling your home to a cash home buyer is legitimate, the lack of knowledge among people has opened doors for scammers. This means you can’t simply trust any cash home buyer, as several fraudsters are lurking out there to take advantage of your money and house. Therefore, to help you avoid getting fooled by scammers, we have given a complete guide on how to spot “we buy houses” scams and take precautionary measures.

  • Ask for proof to show their legitimacy

Imagine a scenario: You get a call out of the blue from people claiming that they are the leading real estate investor in the area. They show interest in buying your house for cash immediately. Now, the question arises whether they are legitimate or not. First of all, no reputed cash home buyer will call you voluntarily to buy your home for cash. But if, in case, they do, you should ask relevant questions to make sure you’re dealing with a trustworthy investor. To do so, you should start by asking relevant questions, including:

  • What is your name and official address?
  • How long have you been in business?
  • Can you give any references to your previous clients?
  • Do you have any legal licenses or certificates?
  • Can you provide your website address?

A reputed and experienced cash home buyer will never hesitate to answer all your questions. But if you’re not satisfied with given answers, you should move on and keep looking. The Better Business Bureau website is another good resource to check whether your preferred cash home buyer is legitimate or not.

  • They are too eager to buy your home

Usually, a real estate investor gets all the details about the property and takes a tour before making a fair deal. After all, they are investing their money. So, it’s quite normal for them to know everything about the home as well as the homeowner. What’s not usual is when they offer you a good deal without even visiting your home or getting information about it. If your real estate investor shows more interest in getting you to sign the deal than knowing about the property and associated concerns and damages, you should consider it as a red flag.

  • They keep you waiting

A reputed estate home buyer in Oakland County might provide you with proof of funds and a deposit to create good faith. They also want to make sure that everything is in place between both sides before making a final deal. This forms trust between you and the buyer about the transaction’s nature.

On the other hand, a scammer tries to string you along without offering any proof of funds and documentation. Of course, an investor needs time to plan for funding. But if you feel they aren’t upfront with you, then it might be a good reason to be concerned.

The bottom line

If you’re in a position where you need to quickly sell your home for cash, do keep these things in mind to determine the best cash home buyer and avoid “we buy home” scams. Do not forget to do your homework to check the background of your potential cash home buyer before making a final decision. If you’re searching for a reliable and honest cash home buyer, get in touch with Detroit Cash For Homes. We buy houses in Oakland County with an easy and quick home selling process.