If you need to sell your home quickly you may be looking at cash offers. They make a lot of sense because they’re quick, they don’t involve as much paperwork, and they get you out of the house much faster than the standard process. Closing time is much shorter, and typically you’ll see more money in your own pocket because you’re not dealing with realtors. That said, cash offers have gotten a bad rap in the past because of a select few bad people, who scam homeowners, agents and brokers. It’s good to know that most companies out there making cash offers aren’t looking to scam you. They’re legitimate businesses you can trust. But some people offering cash for homes can be untrustworthy. Here’s how to tell if your cash offer is a scam, and how to make sure you can trust other offers:
First and foremost, do your research. If the buyer is associated with a company, check them out on the Better Business Bureau, see if they’re listed in Yellowpages.com in your area and if they have any reviews. Most local businesses will have at least one or two reviews from real clients who have worked with the company on Yelp or Google, and those can be excellent resources.
Listen to the Story
In any buyer/seller relationship, there’s usually a story. Why are they buying the house? Do they like the area? Is it a great fit for their business, or are they a single person looking to move in? Make sure their intentions seem genuine, they’re interested in the community and neighborhood and be wary of those moving from far away who want to move without even looking at the property. People who say they’ll buy sight-unseen, in cash, and from another state or country, should at least raise a red flag. Now it’s possible they’re telling the truth, but be very cautious, do plenty of research on the person, and request that they at least meet you in person once, even if it’s not at the house.
Have Someone Look Over the Offer
If your offer seems too good to be true, have someone look it over for you. Whether it’s a family friend who happens to be an attorney, or a lawyer you already know and trust, it never hurts to be cautious. At the very least, they can tell you if everything is on the up and up, or if there is some questionable wording in the offer.
Do your Homework
Finally, don’t accept any offer before you’ve done your homework on your property. If you’re selling for cash, it’s good to remember that you’ll likely get a lower offer than the value of the property, especially if you’re selling as-is, but that doesn’t mean you should just settle for the first offer that comes in. Know what your home is worth, and what you can expect for an as-is, cash offer. Check out what other homes in your area in similar conditions are selling for, and you’ll have a better idea of your house’s market.
In the end, you should feel good about accepting an offer. If something just doesn’t feel right, or there are just too many red flags, don’t accept the offer. It’s always better to accept an offer you trust, even if it’s lower, over one that’s a scam.
If you’re looking to sell your home quickly, and for cash, but are wary of scams, give Renewed Homes a call. We’re a trusted, local real estate investment company providing cash offers for West Michigan homeowners who need to sell quickly, and we can help. We’ll come down and talk with you to see what your goals are and make a cash offer if you’re interested. Or, if you just want to talk about your options, we’re here for that too! Give our office a call at 269-362-0931 or contact us online today to get in touch.