How to Protect Yourself from “We Buy House” Scams

We Buy House Scam Artists 

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