If you’ve been driving around your hometown, chances are you’ve seen some billboards advertising companies that buy houses.
Often times they say things like “We Buy Houses!” or “Cash For Your House”. Unfortunately, there are people out there that want to take advantage of a person’s binding circumstances. Instead of being the help they claim to be they are like vultures circling an ailing animal.
Are these “we buy houses companies” credible?
How do I know if the local house buying companies out there are honest and credible?
Well… sometimes they all look the same at the start… but below we’ll walk you through some things to look for in a local house buying company before you should work with them.
Buying and selling houses is a valid and respectable profession that can help communities and house sellers in many ways. But just like any other line of work – a minority of house buyers in any market are the ones who make the rest of us look bad. We have all heard the saying: One bad apple spoils the bunch. This can be very true this is why it is important to trust reviews and most importantly you gut instinct!
There are people who are really great, ethical folks who improve their neighbourhoods one property at a time.
And then there’s shady, dishonest people who put money ahead of the well being of their clients and who would sign the contract to sell their own grandmother with one hand while stabbing you in the back with the other – as long as they were making enough money and yes they have “we buy houses companies”
Yes, they are out there.
We’ll help you avoid these “shady house buyers” so you can work with honest, ethical, and reputable local companies who can buy your house for a fair all-cash offer and close on your schedule.
But let’s not focus on the negative, too much of that will have people turned off completely from even working with credible companies like Home Scout Investing.
First, let’s cover exactly what the best house-flippers are doing.
What Reputable House Buyers Are Doing
- Helping folks improve their lives by accessing the money they need right away. People often need the cash in their house to cover unexpected medical expenses, or to relocate to be close to a relative. We can make that happen in just a few short weeks or even days, and we deliver peace of mind.
- Helping sellers get rid of a burdensome property without the hassle of having to list it with a broker and wait months and month for a sale.
- Creating local jobs. We hire plumbers, contractors, electricians, brokers, title reps, loan officers, administrators and many other folks along the way. The average real estate transaction involves 86 people from start to finish. Our investments help create real jobs for people around their communities. This is of great importance to us, we must empower the local communities that we do business in. Trust is a MUST when we enter a community, we are here to serve while others just take.
- Buying US products. We spend tons of money on materials that are made right here in the USA – that creates jobs in our timber mills, factories, supply shops, distribution centres and more. The US economy depends on steady improvement, and that requires investment from folks like us.
- Increasing the value of neighborhoods. When we improve a house, we’re helping to increase the value of the entire community. We often repair abandoned and neglected houses, turning them into beautiful homes for families. That activity strengthens those who live in the community provide a sense of pride. Beautification of a home and neighborhood is essential to the quality of living for all.
- Increasing the tax base. When a new buyer takes over one of our properties, they’ll pay a higher tax rate based on the new and improved value. Those taxes go to pay for our schools, fire, police, libraries, streets and other valuable pieces of infrastructure. Again, improving our neighborhoods.
Pretty cool stuff, right?
Lots of people think of house-flipping as a get-rich-quick scheme. That’s fueled by silly “reality” shows that amp up the drama because the reality of what we do on a daily basis is actually pretty boring.
Most of our work is coordinating with lots of people to make sure things are happening on time. We have to keep track of lots of moving parts.
So let’s get back to how you can use this information to find out if someone is a credible investor, and not just pulling a house buying scam.
How To Ensure You’re Working With A Reputable Local House Buyer
When you talk with a local house buyer to potentially buy your house… ask them some of the questions below to ensure they’re reputable, knowledgeable, and honest.
Ask open-ended questions like:
- How do you help your clients?
- What do you do for people?
- Can you tell me more about your services?
- What aspect of your business makes you the proudest?
- How would you describe your investment philosophy?
- How can I know that you’ll close on my house when you say you will?
Second, look for telltale signs of tactics that those few shady operators tend to use.
- “Kitchen table closings” – If a property buyer tries to get you to sign the deed (ownership) of your house over to them at your house, rather than a professional place like a closing attorney or title company… be leery. Most reputable house buying services will perform the actual closing of the sale at a neutral 3rd party place… like a title company. This ensures everything is insured and done right, on the up and up. This means there is full transparency you will see all the fees and cost associated with the transaction.
- Pressuring you into a fast closing – If a house buyer tries to pressure you into selling your house and says that you have to make the decision today, this is an absolute RED FLAG! Most reputable house buying services will make you an offer and that offer will be on the table for at least 2-7 days (minimum) for you to make a decision. There should never be any rush for you the homeowner to say yes. The reason reputable house buying services like ours at Home Scout Investing LLC do place deadlines on our offers is because the market changes and values can change week to week depending on other sales in the area, also… we buy multiple houses a month and when we make you an offer we’re assuring you that the cash to purchase your house is ready and we’ll reserve that cash for several days so if you do want to sell your house, we can close on your schedule. If you feel the offer isn’t a fit for you, then we’ll assign those funds to help another seller with their home sale.
Most scammers are looking for a quick score, and not an in-depth interview. Remember questions lead to facts folks.
Chances are good that they’ll find excuses to get off the phone and move on to someone who doesn’t ask too many questions.
True investors who run honest and ethical house buying services, however, are building long-term businesses based on relationships and community development.
So when you’re looking at one of the “we buy houses companies“… never be afraid to ask questions!
Give us a call anytime at (844) 602-5765 or
fill out the form on this website today! >>