You’ve received a call about your house, you’ve seen tacky, homemade signs on the side of the road offering cash for houses, and you’re in a financial pickle and need to offload your house fast. These cash home buyers seem to be a great solution, but are they legit? How can you tell if the company you are selling your house to isn’t fraudulent?
The tell-tell signs of a scam are companies that try to get you to send them money, companies with missing credentials, and companies that try to put an exorbitant amount of pressure on you to make a deal. If you are trying to sell your home to a local Colorado cash home buyer, look out for these signs.
Don’t send money
If you are trying to sell your house fast to a cash home buyer, a scammer may pressure you to send them money before they will proceed with a deal. If someone wants a cash guarantee in order to enter into a contract, you’ve got a bad company.
Real estate agents will take a commission out of the total sale of a property. You don’t have to worry about paying those fees until after you have already sold the property. Anyone asking for cash from you upfront should be considered suspicious.
Missing credentials
Any business striving to establish itself as credible should have proof of its legitimacy. At the very least, this business should have registered itself with the state of Colorado. If asked, the company you are dealing with should be able to present information that proves their legitimacy as a business operating in Colorado.
A more established company will probably have a website and a Google Business profile. Websites will have useful information about how to contact the company, what work they have previously done, and can provide background into how the company came to be. A Google Business profile exists for any person with a physical presence that conducts transactions face to face.
Much like information regarding the business license, this information should be readily available upon request.
Being pressured into deals
Legit cash home buyers can quickly go through a transaction, that doesn’t mean you should be equally hasty. If you are trying to sell off your house fast, you could be involved in stressful financial situations or just don’t want the hassle of selling a house through the normal channels.
Scammers will try to take advantage of the pressure you are facing in trying to sell your house fast. Different tactics may be employed to make you feel as if you have no choice but to hastily comply.
Legitimate companies will work with your situation and will do what they can to make the process better for you.
Don’t fall for it
There are many people willing and deliberately trying to take advantage of people in desperate situations. Don’t fall victim to a scam, follow these tips instead.
Joe Homebuyer Colorado is a wholesale real estate company that is a cash home buyer in the Greater Colorado region.
