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3 “We Buy Houses” Ninja Tips You MUST Know To Prevent Scam

3 “We Buy Houses” Ninja Tips You MUST Know To Prevent Scam

June 30, 2019  1 By 1 Comments

We Buy Houses Tips That’ll Save You Big

Tip #1: Find Out If You’re Dealing With A Bad “We Buy Houses” Apple

Seasoned We Buy Houses investors are more often than not, trying to help homeowners find the best solution for selling their home. We couldn’t count how many times we’ve seen investors turn down giving home owners an offer because they are not the right fit for their situation. The majority of We Buy Houses investors are usually looking out for the best interest of homeowners. Most investors want a win-win situation where all parties benefit from the transaction. Sooooo, does this mean that all investors out there are good? Of course not. So be sure to watch identify the bad apple. If all else fails, go with your gut feeling. Make sure to do one thing always when selling your home to an investor. Ask questions and do your research to find out the investors’ intentions. A good investor will give you options and help educate you on the situation, allowing you to ultimately decide what best suits you.

Tip #2: Know The Process

Knowing the process can help put you at ease when dealing with investors. Know that a good investor wants a win-win for everyone and will always keep you informed on any questions you have about the process. To get a cash offer of your own submit a cash offer form or contact us direct

  1. Pre-Qualification-
    When you call a We Buy Houses investor, it is their job to qualify whether you are a good fit for selling your home over a cash transaction. Is there an urgency or not? If not, then an honest investor will tell you that you should list your property on the MLS to pocket more money. If your in a hurry to move and need to sell quick, investors can offer the convenience of a quick sale within 14-30 days to close.
  2. Property Analysis-
    If you’ve qualified as a “good fit”, for the We Buy Houses Investor, they will then begin to ask a series of questions helping them understand the condition of the property. This is to qualify if it fits the specific investors needs.
  3. Offer-
    Depending on the condition of the home, the area, the features etc. the investor will present an all cash offer for your house. If the offer doesn’t work for you, a seasoned investor should have a few other options available up his sleeve, such as discounted realtor listing fee’s or simply taking over a mortgage.
  4. Agreement Paperwork
    You’ve agreed on a price and now it’s time to put the terms on paper. The investor buying your home should prep paperwork with the agreement price and a few other terms into the agreement docs. We buy houses investors are becoming a little more tech savy. When buying houses, agreement documents are usually sent digitally through docusign, making the transaction that more convenient. A digital signature away and now the paperwork is off to escrow.
  5. Opening of Escrow-
    After signing the agreement terms (either digitally or in person), the document is then taken to a reputable title company to open escrow.
  6. Produce Clear Title and due diligence
    Escrow is now open and it is time to make sure the title doesn’t have any “spiders in the closet” such as liens, outrageous back taxes, or judgments that might prevent the sale. This process can take 1-2 weeks depending on how busy the title company is and a few other factors. Investors will sometimes use this time to photograph the properties condition and have contractors inspect the house to acquire renovation quotes etc.
  7. Funding
    Once everything is all set, the title company will give you a call to pick up your check.

Tip#3: Preventing Post Agreement Price Drop

Some investors give a bad name to honest we buy houses investors. They scam home owners by getting them to commit to a written agreement and then later, down the line towards the end, hit them with a price drop. They will usually claim that the house “needs more repairs than anticipated” after the inspection period. The best thing to do in cases like this is stick to the priced agreement. Also, Knowing repair costs or simply doing an online search for home repair costs should help verify if what they are saying is true. It’s important to know that, on occasion, mistakes are made and contractors may under estimate repair costs and later adjust them. Educating yourself should help you identify if the investor who buys houses is trying to scam you or genuinely miscalculated repair costs.

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1 Comment

  1. […] offers in the 80k range…ouch. This is why its important to make sure your speaking to the right people to prevent scams. Speaking to the right people can help you save money and land you a better net […]

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