We were falling behind on our mortgage when we contacted House Buyer Network. Not only did they help us sell our property, but it was sold quickly and with real class.
We were able to save our credit and walk away from the closing table with cash in our pockets. What a big relief! Thanks House Buyer Network.
–Timothy and Julie U.
Our Simple 3 Step Process
We know how big a decision buying and selling a house can be, and we pride ourselves on being able to offer creative solutions for people in any situation. For example, we’ve worked with Boston homeowners who needed to sell a house quickly due to reasons like job relocation, repairs you don't want to pay for, unwanted or inherited properties, and financial distress (including having trouble making house payments or facing job loss or divorce).
Benefits of Working With Us
When you fill out the form or call us, we will get you a no-obligation cash offer.
In most situations we can close within a few weeks or less.
Our goal at House Buyer Network™ is to make the home-selling experience straight forward and stress free.
Forget about making those costly repairs. We'll buy your home in it's current condition.
- Mortgage Issues
- Behind on Taxes
- Problem Tenants
- Title Issues
- Condemned Property
- No Equity
- Expired Listing
- Fire Damage
- Code Violations
- Liquidating assets
- Title Issues
- Trouble Selling
- Ugly House
- Extensive Repairs
- Job Loss
- Medical Bills
- Legal Bills
The 5 Most Relevant We Buy Houses Scams
We’ve all seen the handwritten signs on the side of the road.
“We pay cash!”
“We buy ugly houses!”
It’s hard to pass up those offers when you’re in a bind or want to sell your house quickly. It’s also appealing to think that maybe, just maybe, you could avoid the lengthy, expensive home selling process. It requires a good amount of work to clean, stage, and maintain your home for sale.
However, many of these roadside offers are we buy houses scams. So, how do you know what’s real and what’s not? Let’s run through some of the most common we buy houses scams and how to avoid them.
We Buy Houses Scams
There’s a big difference between buyers and scammers, but it’s not always easy to tell. Here are the 5 of the most common we buy houses scams. Once you realize how predictable these methods are, you’ll know how to identify them.
Bait and Switch
This classic con applies to we buy houses scams, too. After you enter into a verbal agreement with the buyer, they present you with a contract that they claim is just a formality. You would hope this contract is something resembling your verbal agreement, and the buyer is hoping you’ll simply skim it instead of reading thoroughly.
Between the time you sign this document and the closing date, the buyer will have you sign a few minor changes that they call tweaks. This leads you to believe they don’t affect the contract at all. By the time you get to closing, you’re stuck in a contract that looks nothing like your verbal agreement at all.
A Helping Hand
These companies claim to buy your ugly home or get you out of your upside-down mortgage payments fast. They say they’ll buy your house, catch up your payments, and let you take the payments back over after you’re caught up.
Once you’re ready, they will sell the house back to you at a reasonable price. However, the contract you sign is full of clauses that state they can take possession of your home in a variety of cases. One of these cases is that they can claim the home if you’re ten days late on a payment. If you slip up or make any mistakes at all during the contract period, you could lose your house for good.
This common we buy houses scam starts with you transferring the deed to your home to a buyer. While this buyer holds your deed, they never actually assume any liability. You continue to make payments to the buyer and stay in your home while they use the equity to take out major cash loans or lines of credit.
Once the credit is dried up, the buyer stops making the mortgage payments and skips town, leaving you with a foreclosed home and terrible credit. They can also sell the home right out from under you and never pay the bank for the outstanding balance.
Liberian For Sale by Owner
This scam involves a person outside of the United States telling you that he or she plans to move to the US soon and can pay you cash for your home. They likely found your listing on a for sale by owner site. You think you’re helping someone out and selling your home, making the deal sound pretty compelling.
However, all this person is trying to do is get you to send them money or gain access to your bank account so they can transfer funds to themselves before you figure out what’s going on. If your money is transferred outside of the US, it can be impossible to recover them.
Some buyers will claim they want to buy your home, and they’ll even make you an offer and draft a contract. The problem is, they’re not buyers at all. All they’re buying is time until they can get an investor to bite on the deal. They may be marking up the price of your home and selling to someone else. If no investor is interested, the contract falls through. You’re then left with wasted time and no sale.
How to Avoid Scams
The best way to avoid scams is to look out for one of the five flags above. We buy houses scams start with the sign you see on the side of the road. They’re innocent enough. They give you just a little nudge and plant that seed of wonder.
Instead of dealing with these shady people, try to sell your house to a legitimate company. Ask for their office number and work email address. See if they even have a physical location.
Be wary of anyone offering to buy your home who doesn’t meet the five criteria above. Don’t fall for anyone putting on a seminar on how to make cash fast. You should be able to find their credentials and reviews online.
We buy houses complaints are everywhere. Thoroughly vet the company wanting to buy your home for anything that looks suspicious, and if you have any doubts at all, walk away from the sale immediately.
There are tell-tale signs all along the way that will lead you to the right conclusion if you listen to your gut. Be aware, ask the right questions, and don’t let the buyer pressure you into anything. Selling a home is hard work, and there’s no way around it. If you need to sell your home fast, work with a proven, legitimate partner like the House Buyer Network.
This and all House Buyer Network articles are free real estate articles available for reprint when credited to House Buyer Network and accompanied by a link to the site.
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