ON THE MARKET FOR A HOME INVESTOR?
Things to Avoid When You’re Looking for a ‘We Buy Houses” Company
If you’ve recently found yourself needing to sell your home ASAP, and want to turn to a ‘we buy houses’ company for help, there are a few things you should know first. Sincere companies and investors, who truly want to purchase your home as quickly and fairly as possible, do exist. Knowing what to avoid will help you find them.
Our first word of advice is to avoid calling any bandit signs for companies who buy houses for cash.
They’re often new investors, with little real experience buying homes and are just starting out. Many of these so called investors don’t actually have the cash they say they do to purchase your home either. Rather they are trying to simply act as a middle man and get your property under contract and turn it around and sell it someone else who actually has the cash to purchase your home.
Next, avoid investors who don’t have a good rating with the BBB, or aren’t registered with the BBB at all.
Any time you’re dealing with the sale or purchase of real estate, it’s best to work with an accredited business. You don’t want to leave something this important up to amateurs, especially if it is really important for you to sell your house fast.
If a potential investment company or buyer doesn’t have a website or other online presence, you should probably avoid them.
An online presence makes a company visible, and gives you the opportunity to see testimonials, pictures of other property’s that they’ve bought, and really get to know the company and what they stand for. If they’re not willing to show you their work up-front, then it’s best to stay away.
Nationwide companies should also be avoided.
If you really want to get the best deal for your home, you’ve got to work with a local investor. Only they will know the real estate market in your neighborhood and community, and be able to adjust the purchase-price to match so that you get the most money possible.
Finally, avoid doing business with an investor or buyer who is not a licensed real estate agent.
Working with a licensed agent gives you an extra level of protection because a licensed real estate agents actually have additional rules of disclosure and responsibilities to the public than what ordinary investors have. They literally are obligated to behave in an ethical way or could lose their license. Other investors that aren’t licensed don’t have anything to worry about in that regard.
Selling your home to a ‘we buy houses’ company for cash can be a legitimate option if you’re in a bind. Just be sure to follow these rules and do your homework before settling on a company or business to work with!
Check out a couple of STL House Seller’s previous articles!