Many people are cautious about internet-based companies, and rightly so. They have heard too many stories of elaborate cons disguised as legitimate businesses. Luckily, you don’t have to go into any business agreement blindly. There are always signs that a company is a scam if you know what to watch for. While most home buying companies are truly there to offer an important service and can be fully substantiated, there are a few scammers out there. Here are three ways to know that your Home Buying Company is legitimate.
Cash is Flowing In, Not Out
The surest sign that a home buying company is a scam is if they ask for money from you. There is no legitimate reason for you to send any amount of money to a company wanting to buy your home. The cash should all be flowing the other way–into your pocket. If a home buying company asks you to send them money, run far away! Better yet, report them to the Better Business Bureau. Internet scammers need to be stopped.
There is No Obligation to Sell
With a legitimate home buying company, you will share information about the home in question, the company will most likely want to tour the property, and you will be issued a fair, cash offer. At no time should you feel obligated to sell, until the day you accept the offer and sign a contract. If a home buying company pressures you to sell, or binds you before you choose to accept an offer, you can know that they are not a legitimate business. With reputable companies, the power is in your hands.
Closing is Done at a Reputable Title Company
No legitimate business will ask you to close alone with them, or, worse yet, over the internet. If closing is done anywhere but at a reputable title company in your area, you can know that the company is not legit. No matter who the buyer is, you should never close without a title company to act as a neutral third party to ensure that everything is fair and in order. Furthermore, with home buying companies, all closing costs should be paid by the buyer.
Are home buying companies legitimate? The simple answer to this question is yes. Most home buying companies are legitimate businesses who can get you out of a major bind when you need out of a property fast. However, do your homework, and be sure that you choose a reputable company. Just look for the signs and rest easy, knowing that within a matter of weeks or even days, you can walk away from your unwanted property, cash in hand.
Do you need to sell your home quickly, without the hassle of a traditional sale? Click here to learn more and to set up your free, no obligation consultation with Bob Buys Houses!