5 Tips to Ensure Your Cash Buyers are Legit
Owning a home is a sign of years of toil and sweat. That’s why it’s such a terrible thing to get robbed of your hard-earned wealth when selling. Scammers are on the loose and are preying on unsuspecting sellers. You need to be vigilant and safeguard yourself and your property.
To shield yourself from loss, here are five tips you can use as fireproof:
1.Make Sure the Investor Wants to See the Property
Willingness to pay a certain amount for the property without seeing it should turn on your light bulbs. After all, houses are not just a bag of Cheetos. In most cases, these are thousands of dollars worth of investment. One has to be keen on what they are buying.
Insist on a site visit, and if possible, research the investor’s dealings. Most likely, you will discover they operate fictitious sites, have criminal records, have never bought a house or any other property in cash, and are tax defaulters.
2. See What Information the Investor Offers in the Initial Conversation
Legit people do not share items like bank statements and personal addresses in the initial stage. However, scammers will give you intimate details and even ask personal questions.
Don’t fall for these sideshows. They are traps set by scammers to make you feel comfortable. Once they win your trust, they will lure you into doing outrageous transactions. Wiring money to these scammers at this point will become easy.
3. Check the Type of Advertising
Buying a house is not a walk-in-the-park kind of trade. It requires high-level marketing skills and strategies. An investor who is doing a shoddy marketing style like pinning posts on a tree should be questionable.
4. Be Aware of Undue Pressure
Another common trait of an illegitimate investor is high pressure. This investor will exert unnecessary pressure on you to sign documents, hurry on various transactions, and even offer free legal advice.
Be wary of such investors. That exaggerated sense of urgency will ensure you are sidelined on cardinal matters in the agreement. You will sign documents you don’t understand and later realize you have given out your property for free, if not worse.
Make sure you have your lawyer to ascertain the documents. Both parties should clearly understand every clause in the agreement.
5. Ask to See a Portfolio
Reviews play a vital role in any business. It is the pride of a successful enterprise. However, scammers do not have a portfolio. Hence they lack assessment. When they do, it is always vague and cannot be trusted.
Ask for testimonials from your potential investor; do not take their word of mouth as the gospel truth. Make follow-ups on whether they closed the deals on the houses they claim to have bought, and verify the means of payment used. That way, you will easily spot a real one from the fake.
Choose a Trusted Investor
The risks above can make you shy off from selling your property. While they are some of the top signs to look up for, the scammers are daily coming up with new ways to defraud unsuspecting homeowners. It is wise to keep up to speed with the current tricks used. Read widely on the subject. Dealing with trusted investors like Zee-holdings will save you from falling prey to scammers.
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