We Buy Houses Companies – Are They Credible?
You have probably seen some billboard advertisement about selling houses. They’re often saying things like “We Buy Houses!” or “Cash For Your House”. And chances are, you’ve asked yourself: “These We buy houses companies – Are they credible?”
Let me tell you a few things about them and how you can identify if they are reliable. Keep on reading
Most of the questions that we asked ourselves if we haven’t used a service or if it’s the first time we’re dealing with a company is if they are honest and credible. They do look the same at the start but we’ll walk you through on some things that you can look for in a local home buying company. This way, you’ll be able to know if it’s okay to work with them.
Buying and selling houses is a respectable profession that can help many home sellers in different ways. But just like any line of work or business – there are a few who cannot be trusted. There’s a lways a few that makes the majority of us look bad.
I’ve met a number of people who are great and ethical people who improve their neighborhoods property one at a time. And of course, there are those who are shady, dishonest people who puts money first before anything else. They are the ones who would sign a contract to sell their own grandparents with one hand while stabbing you in the back with the other hand. They’d do everything just to make money. That is why you really need to know beforehand: “We Buy Houses Companies – Are They Credible?”
As horrible as it sounds, it is true. They are out there. But, we’ll help you avoid these “shady house buyers” so you can choose an ethical, honest and reputable home buying company that will pay you in cash and will let you choose your close date.
But let’s not focus on the negative – at least not yet. First, let’s cover exactly what the best house-flippers are doing.
We Buy Houses Companies – Are They Credible?
What Reputable House Buyers Are Doing
- Helping people by accessing the money they need right away. Most often than not, people sell their houses because of unexpected expenses that they need to cover right away. It could be for medical reason, or to relocate to be close to a relative. We can make that happen in just a few days. We can work entirely around your schedule to help you with your dilemma.
- Helping sellers get rid of a problematic property without the hassle of having to list it with a realtor and wait 6 to 12 months to sell.
- Creating local jobs. Our investments help create real jobs for people locally. We hire plumbers, contractors, electricians, brokers, title reps, loan officers, administrators and many other folks along the way.
- 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 centers and more. The US economy depends on steady improvement, and that requires investment from folks like us.
- Increasing the value of houses locally. When we improve a house, we’re helping to increase the value of the whole community. We often repair neglected houses, turning them into beautiful homes for families.
- Increasing the tax base. An improved property makes a higher tax rate. Those taxes go to pay for our schools, fire, police, libraries, streets and other valuable pieces of infrastructure.
Many people think house-flipping is a scam. A get-rich-quick scheme. That what we do is fueled by silly “reality” shows that amp up the drama that is because in reality, what we do is pretty boring. We work mostly by coordinating with many people to make sure things are happening just as planned. We have to keep a keen eye and keep track of lots of moving parts.
So, let’s now tackle how you can use this information to find out if someone is a credible investor, and not a scam.
How To Ensure You’re Working With A Reputable Local House Buyer
When you speak with a local house buyer to work with, make sure to ask these questions to ensure that they are reputable, knowledgeable, and honest.
Ask open-ended questions like:
- What do you do for people?
- How do you help your clients?
- What aspect of your business makes you the proudest?
- Can you tell me more about your services?
- How can I know that you’ll close on my house when you say you will?
- How would you describe your investment philosophy?
Second, look for tell tale signs of tactics that those few shady operators tend to use.
- “Kitchen table closings” – 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 done right and on the up and up. So if a buyer tries to get you to sign the deed of your house over to them at your house, rather than a professional place like a closing attorney or title company… be very leery!
- 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, be leery. Most trustworthy home buying company will make you an offer and that offer will be on the table for a minimum of 2 to 7 days. They will wait for you to make a decision. The reason why we make a deadline for our offer is because the market changes and the value of a property also changes from week to week depending on other sales in the area. We also buy multiple houses a month and when we make you an offer, we make sure that the CASH is ready 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 sale! They do not care for an in-depth interview. 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!