 How to Protect Yourself from “We Buy House”
Scams
When you need to sell a house
fast, there are some important rules you’ll need to abide by
to protect yourself from flimflams and “We Buy House” scam
artists. If you
want to have a successful transaction, learn these rules and
enjoy the fruits of your labor.
Be Ready and Willing to
Walk Away
When it comes to a transaction
of this magnitude, you must be ready and willing to walk
away at the drop of a dime. If not, you could subject
yourself to scam artists and untold potential financial
ruin. If it doesn’t feel right, if you don’t trust them, if
it seems too good to be true, err on the side of caution and
walk away. It is never worth the heartache gauntlet you will
walk through for going against your better judgment.
Get All of The Terms in
Writing
In the event of a
misunderstanding or disagreement, verbal promises will mean
absolutely nothing! Don’t risk going to court trying to
prove your case based on your word against theirs; you will
lose! Insist that all of the terms be in writing. If they
can’t or refuse to put any term in writing on a valid
Georgia contract, bid them ado and walk away.
Understand What You Are
Signing
If you don’t understand what you
are signing, put the brakes on and get some professional
help. When it comes to real estate transactions, there is no
such thing as a stupid question. Not having the proper
answers could literally cost you tens of thousands of
dollars. In terms of acquiring the answers, look to sources
such as your mortgage company, a reputable real estate
broker an attorney or one of the pre-paid legal programs if
you are a member. Don’t ever sign a contract that you do not
understand!
Research the
Buyer
Know who’s attempting to
purchase your property. Are they a seasoned investor? Do
they have the financial backing to pull this deal off? Have
they caused any homeowners to lose their property? Are they
members of any reputable real estate organizations such as
the GaREIA? Don’t wait until you have concerns or feel
uneasy about a buyer before checking them out. Check them
out first.
Check them out through the Better Business Bureau, the Georgia
Real Estate Commission, the Office of the Attorney General of
Georgia and your District Attorney's Consumer Fraud Unit. Also
find out if they are incorporated and finally examine
their website.
How To Recognize
“We Buy House” Scams
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