These days you have to be concerned with scams everywhere. On Craigslist, Facebook and everywhere you turn. Unfortunately the same thing applies to "we buy houses" companies. So how do you ensure you are dealing with a legitimate company? That's what we are about to cover :)
Legitimate We Buy Houses Companies
You have probably seen all of the signs on the side of the road "We Buy Houses". But how do you know if that company is really legit? The first thing - is it a hand written sign? If so, if they don't have the money to pay for a nice custom sign do they really have the money to buy your house??
Do An Internet Search
Can you easily find them on the web? After you call one of those we buy houses signs and get their information, do yourself a favor and Google them. Do they have a website? Can you find who the owners are of the company? If not, you may want to think twice about using them.
The next thing is reviews and do they answer the phone? This was covered in a good article from Active Rain:
Tip #2 - Reviews from past clients
If you can't find any reviews or only find bad reviews online for a company, this is another red flag. Check Google, check Facebook, and even look at a company's website for customer testimonials. If you can't find those, what is the company hiding? If the reviews are bad, read through them to see what went wrong and what people didn't like. You might end up saving yourself lots of time and money....
Tip #3 - Does the company answer the phone or call you back quickly?
Bad companies are impossible to reach on the phone and never return your call. They might have a working phone number but their reluctance to talk to people on the phone is a read flag you should be wary of. Legitimate companies will answer the phone or call you back quickly. They ar eeager to talk to you and answer questions. If you do get a company on the phone, ask them questions about how it works or their company.
A couple notes on reviews. Customers with a bad experience are 10 times more likely to leave a bad review than a satisfied customer. Also, even with careful monitoring, some companies pay for reviews, so always take them with a grain of salt.
Reputable Companies That Buy Houses For Cash
Now are they really cash buyers? And are they giving you a written Purchase And Sale Agreement, or is it just a verbal offer? Susan Jones has some good info on this:
Unrealistic high offers. We have found out that amongst other tricks is that sometimes the property organisation, company or person who claims to want to buy your house fast will make you an un-realistic high offer to get your initial interest. Then they will try to reduce the amount they will pay at the last minute or near completion (when you are most vulnerable – and need to sell your property quickly or facing home repossession).
Are they real cash buyers? You should also be aware that there are only a handful of real cash property buyers operating in the market (our buyers being one of them!) which means that many advertsing here on the internet and within your local paper for example dont have the financial means to purchase your property as quickly as they say they can, or to provide you with the professional service you deserve and demand.
We have had customers in the past that have run into the first problem of unrealistic high offers only to try and drive down the price before closing. This is a real problem when someone needs to sell in a hurry and either has to sell the property to them for a lower price or has to hold on to the property longer. This is why we always recommend that no matter who you are dealing with, you get a signed Purchase And Sale Agreement when selling your house.
Summing It Up
When ever you have to sell a house quickly and are looking for a legitimate "we buy houses" company, do your homework and make sure you know who you are dealing with. The two biggest things is search the web and make sure when you do find one that they give you a written Purchase And Sale Agreement and not just a verbal offer.
If you are searching for a reputable we buy houses company in Metro Atlanta, be sure and contact us, Mandich Property Group for a free, no obligation to you offer on your house at (770) 756-8680. We would be more than happy to speak with you and buy your house! :)