Are these cash home buyers legit???
For most cash buyers, the purchase is seen as an investment. Most of the companies and investors are legitimate realtors or real estate experts, like Easy Offers Utah. That means you shouldn’t expect to obtain full market value or price when they offer cash for your home. They look for houses that need some repair, and that will allow for profit after said repairs have been completed. Legitimate buyers ask for your home’s detail or like to take a tour with you to assess the properties value. If you know to expect this, you can spot the irregularities.
Life is hard enough without worry about how to sale your home quickly when you find yourself in a potential situation. You need to protect yourself, and learn how to determine the real estate experts who are here to help YOU apart from the ones who are here to help THEMSELVES.
How to Spot ‘Cash Offer’ We Buy Houses Scam
You must watch out for ‘buy your house for cash’ scams, by looking for potential clues. Here are some ways to protect yourself.
Tip #1 – Always Do Your Due Diligence
Verify the company’s credibility. Do they have a Facebook page with other client reviews and/or posts/comments that you can read and gain a broader perspective. Check their online presence. A Facebook page can tell you a lot about the company, or more importantly, the people in the company. Cross reference their company Facebook page with their personal page.
Can’t find the owners on their Facebook page. Search the companies LLC and see who is the owner. Then cross reference the owners online. Are they real people in real estate? Do they appear to talk, live and breath real estate. Most legitimate cash buyers are very active online, in their community, or in other real estate forums.
Tip #2 – Keep the Behavior of the Company/People in Check
Evaluate the companies authenticity online, but then schedule a meeting with them. If they are local, do it in person. If they are not or you’re nervous to meet in person, do it over zoom or google meet.
Gut instincts or intuition also has a role to play here. If you find a person confidently answering all your questions without any hesitation, they should be considered trustworthy. Test their market knowledge and ask them how long they have been in real estate, if they don’t have the right answers or seem unprofessional, stutter or seem nervous, they’re probably not legitimate and you should look elsewhere. Hesitation and over-eagerness are two key giveaways of cash buyer scams
The behavior of your investor can reveal a lot about them. If they do not give you time to consider them and their offer, or if they seem pushy, you may be dealing with a scammer. A legitimate cash buyer will never rush you, they will work on your terms. A legitimate cash buyer wants to help, and you will need them more than they need you.
“If you don’t control your environment somebody else will.” -Grant Cardone
Tip #3 – Wait Until Closing to Exchange Money
A legitimate cash buyer that requests a seller to pay large sum of money up front, prior to any contracts being signed should raise a red flag.
Any strange requests, like an unexpected signing fee, administrative fee, or any up front fee, may mean your being scammed. Once you pay, they disappear with your money.
NOTE: in most states, there is something called a deposit or earnest money required to be paid by the BUYER up front, this is normal. The SELLER should not be required to pay any up front fees for selling their home to a cash buyer.
Conclusion
Keep yourself safe and in the know. Do your due diligence before signing anything. It’s a shame that people who find themselves in a vulnerable state have to deal with scammers. Most companies out there will not be scammers, but they exist and they make everyone else look bad. If you do your research and follow your gut, you’ll be able to confidently complete the sale of your property. If you have any questions, please reach out to easyoffersutah@gmail.com; 385-479-8797. We are a legitimate cash buyer company, aiming to create a win/win situation around the sale of your home and our purchase.
