A Comprehensive Guide on How to Avoid “We Buy Houses” Scams

Selling a house can be an overwhelming situation to go through. Having to let go of your home is hard as it is. Finding the right market and buyer can make it even harder. Whether you’re fixing up the house before selling it or selling it as it is, running a background check on your buyer is imperative. 

However, finding an authentic buyer can be tedious, and it is easy to fall into the hands of scammers. Selling to cash buyers can be tricky since some people are ready to rip you off. Hence, it would be best to be mindful of whom you are closing the deal with and stay alert for any red flags. This article is to help save you from getting scammed by a buyer so that you know how to spot one when finalizing a deal.

Paying attention to the red flags a buyer shows

Some scammers don’t give much thought to how they will scam you; they just go for it. These types of scams are easy to spot. However, not everyone is that naïve. Many scammers make a thorough plan to scam you, which can sometimes work.

A Comprehensive Guide on How to Avoid "We Buy Houses" Scams

Are you being rushed into the process?

If the buyer is trying to rush the whole process, be careful. A genuine buyer would most likely take the time to check out the house. Ask about previous renovations done, and check out the neighborhood. They will give much thought before finalizing the deal. Not to forget, it takes time to sort out all the paperwork required to sell your home.

If your buyer doesn’t wait, does not help you through the process, and rushes you to seal the deal, you might want to look into that. Ask them to give you some proof of the funds they have or how they intend to buy the house. If they refuse to show proof, back out from the deal.

Don't hand in the Documents Until You've Received the Money.

Often sellers make the mistake of handing over the documents before receiving the full payment. If the buyer asks you to hand over the papers before you’ve obtained the total amount you agreed upon, don’t hand in the papers. That is quite possibly a scam.

You shouldn’t hand over the papers even when you’re sure the other person will not scam you. Always hand over the papers once you’ve gotten the full payment.

Running a Background Check

Running a background check on the company that offered to buy our house is vital. Please don’t rely on having a website set up or handing you a business card/brochure. Setting up a website and printing a few cards to scam people is relatively easy.

Make sure they give you a phone number and a company address. Check out the address yourself, and call the phone number to see if someone picks up or if the phone number is fake. 

Do a quick Google search, check if they have reviews, and ensure they weren’t bot-created reviews. They’re pretty easy to spot. However, some companies have hidden their reviews, so you shouldn’t be too worried if they don’t have reviews.

However, if the reviews are open to see, definitely check them out. If all the reviews have a consistent pattern, you are likely walking into a scam. If the company is legit, the reviews will be diverse and full of different experiences.

Follow a Legitimate Process to Avoid Scams

Once you are on board with identifying the red flags, you know what road to take. Understand the whole process in detail so you can avoid getting scammed. Even though each buyer has a different approach to making an offer, all authentic companies that buy houses follow the same pattern.

Follow a Legitimate Process to Avoid Scams

Most companies first ask all the questions about your property and send in someone to put a value on the house after analyzing it. The area’s real estate market and the house’s condition determine your home’s value. It’s always helpful to know what determines the final selling price of your property. The final offer should be close to the market value of your house in the same condition.  

Buyers who are serious about buying your property won’t rush you. They make an offer after carefully assessing everything and then send in a contract. You should take your time carefully going through the contract before you sign anything.

Since direct buyers are buying with cash, the closing deal doesn’t take up too much time if you decide to accept their price. After this, you can proceed with the whole procedure since most buyers follow this generalized pattern.

Close the Deal with a Legitimate Company

There’s never an easy way to identify scammers and know when you’re dealing with one. You can only look for any red flags or unusual activity that can help you differentiate between an authentic buyer and a scammer. Instead of going through all this trouble on “how to avoid house scams,” you can work with a reputable company. 

Top Cash Offer In USA provides the best services when you want to sell your house. We buy your house regardless of any renovations or restorations. Therefore, there is no need to go through all that trouble. Get in touch with us to get a cash offer and sell your house without getting scammed.