We understand the concern! There are a lot of people who have bought into “get rich quick” ideas and have gone looking for shortcuts that can negatively impact you. There are a lot of shady characters out there pretending to be cash buyers who don’t even have the money needed to buy your property. It all sounds pretty scary.
That’s why it’s so important to make sure you do your research and vet any buyer or investor who approaches you in order to make sure they’re legitimate. You should be concerned less with finding the buyer who will make you the biggest offer and more concerned with finding the buyer who can actually close on the sale. This goes for real estate agents too, as you’ll find some who will tell you that your house can get thousands more on the housing market than you’d expect, only for your house to sit there for months while costs pile up and you’re out of luck. Think of all the stress and frustration that you could have avoided with research and vetting.
CashQuickBuyers isn’t like those guys. We have the cash and experience needed in order to close on your property…and we’ll give you cash for it!
So what can you do to avoid falling for a scam?
There are actually quite a few things to do.
– See how long the buyer has been in business – This is actually really easy to do. Check their records with the Better Business Bureau or on the state secretary of state’s LLC search. See how long they’ve been in business. If it’s been less than a year, that could be a sign they’re green and might not have the experience or funds needed to properly close on your house fast.
– Check the buyer’s reviews and testimonials– Any cash buyer who has been in business for a little while will have an online presence and reputation that you can reference. Head to Facebook, Google, Yelp, and other local review sites to see what people are saying about them. Find out if their employees are on LinkedIn as well. Read the reviews and look for any mentions of a failure to close on sales. If you see that, it could be a problem. And if you don’t see any reviews at all, that could be a red flag too.
– Does the buyer actually own property? – If you can, take a look at local property records to see if the buyer actually owns real estate in your area. If you can’t find anything, ask them why not. It is possible that they own property under another name, so that could be a reason.
– Ask for proof of funds – To be fair, it’s rather easy to fake a proof of funds letter. But, just by asking you could weed out some inexperienced buyers or shady characters who don’t have the funds available. And if they hem and haw before providing a letter in a delayed manner, it’s fair to wonder why.