Since it takes an average of 2 to 3 months to sell a home, you can turn to Quick Property Buyer companies to quickly sell your home. However, before considering this option when selling, you may want to exercise as much due diligence as possible to ensure that the company you are dealing with is reputable so that you can avoid home buying scams Here are some questions to ask you:
What First Thing Should I Check to Quick Buying Frauds?
The first point you should consider is the legitimacy of the company you are dealing with. These days, it is easy to create a decent looking website on the internet and market yourself as a professional, fast home buying company. A quick check you can do even before you approach a business promising to sell their home quickly is to see if they have reviews on Google or other trusted sites. Also a legitimate cash home buying company will have an office address so you can make a face to face appointment to check them out if you want
Can They Actually Buy Your Property That Fast?
Another check is to look at how long the company is saying it it will take them to buy your property. On average, fast home sales companies can buy your home in 7 days. If they give you more extended deadlines, it could mean that they are working with a third party company, rather than buying themselves. Maybe politely walk away.
Are They offering a Sell and Rent Back scheme?
What is the sale and rent scheme? Also known as SARB, this is where companies offer to buy your property and then pay it back to you. Look out for this, as although it is not an illegal deal this us an unregulated activity, so do not let them pretend to you otherwise.
For those facing a potential home repossession this may seem like the perfect solution because you no longer have to pay your mortgage, but you can stay in your home. While this is an attractive offer, you will have fewer rights to your property when you become a tenant and may be asked to move in just six months, which will put you in a quandary.
Is this house sale company too good to be true?
As the saying goes, if it look too good to be true, it probably is. A cash offer that goes well beyond your property’s market value might be a sign that all is not as it seems. It is well known that using a real estate buying company means that you will make slightly less profit from the sale of your home. This is, of course, balanced by the convenience and speed of the deal compared to other methods such as using an estate agent or selling the property at auction.
An initial high offer is usually a tactic used by questionable companies that buy houses. They often then suddenly reduce the amount they are willing to pay just before the final purchase of your property. As the transaction nears completion, you end up paying hidden fees or being presented with a reduced valuation which they often blame on “outside factors.”
It may sound cliché, but it’s best to use your intuition. So feel free to contact Quick Property Buyer if you feel your present buyer may actual be a scam artist.
