One thing that makes homeowners sell their property at a high rate is the renovations they make before putting their home up for sale. They back it with the fact that no one will buy a not-so-pretty house. Nowadays, no matter the condition of your house, there are companies that will purchase it.
You wonder why they buy ugly and pretty houses at the price that they do. When you hear of this type of buyers, you wonder “How can I find a trustworthy house buyer?” This is a good question to ponder since there are home buying scams, we don’t want to fall victims to. This article will highlight how we can deduce the legitimacy of a house buyer. We will also see the advantages and disadvantages of selling a property to such companies.
How to Know If the House Buyer Is Genuine
The following are ways to know a genuine house buyer:
1. Make Extensive Research About Them
Go online and search for the company. Check for their LinkedIn profiles and other social media to see what information you can find. If they have a website, check for reviews and comments about their services.
One way to catch inexperienced buyers or scams is that they are quick to give estimates without inspecting your home first. When you contact them after getting their info online and they are already telling you what they will pay for the house, cut off business with them.
You can also use trusted third-party review websites to certify the legitimacy of a company. A house is an asset that keeps appreciating, so when selling it regardless of its condition, be careful of the buyers you meet.
Make sure the third-party review site has enough positive testimonials about this company. Then you can be sure of their credibility. It is important to note that if a company has many negative remarks or lacks an online presence it is a red flag.
2. Check for Experience
Experience makes a great difference when choosing a buyer for your house. There are some people who have never bought or sold a home before claiming to be realtors. Being quick to detect an inexperienced real estate seller will save you stress.
Since they do not have many contacts, it would be a real challenge for them to help you sell your home regardless of the condition. You may never find out about this till the last minute. To avoid this scenario, it is best to look for only experienced buyers to work with.
3. Check if Their Contact Information is Correct
If the company has a website, you can navigate through it for their contact information. This information contains a phone number, company address, and email address. You can decide to call them to see how professional they sound.
Do not stop at this; confirm the address they put up on their website. Check if it is accurate and consistent. Does the name of the company match with it? To be on the safe side, only discuss with companies you get from referrals either from your family, friends, or acquaintances.
4. Verify their Credentials
If they claim to be a licensed company, ask for their company’s name and license number. You can check online, depending on the state they are from, to verify their details and reputation. You may want to check if they have any pending lawsuits or court cases regarding home buying. This information goes a long way in letting you know their reputation. You can then decide whether you want to do business with them or not.
5. See Advertising
A bandit sign is a common banner used by realtors to persuade homeowners to sell their houses to them. The sign has proven to be helpful to them in buying properties quickly and at a cheap rate. You may want to visit https://fitsmallbusiness.com/bandit-signs/ to read more about bandit signs.
As attractive and effective as this sign seems, it is illegal in some cities. It is also regarded as environmental pollution in most places. So if the company you choose has this type of sign, do you think they have good ethics and are trustworthy?
6. See if Their Price is Not Suspicious
If you doubt it, then it is not what it is. When you seriously need to get your house sold and hear that it can be bought at a great price, your mood changes and you let your guard down. Some dishonest buyers like that, so you shouldn’t be surprised when they offer to pay something much lower than the initial amount agreed on.
It could be worse than that. They might offer an extreme amount, then go ahead to delay the closing months while trying to sell your house to a buyer. With little time available, you become desperate so any amount your home is bought at that moment will be acceptable.
Advantages of Selling to an Ugly and Pretty Home Buyer
The advantages of selling to an ugly and pretty home buyer are:
1. They Buy the House Regardless of the Condition
The main goal of such companies is to sell your house quickly. So regardless of the home’s condition, they will offer you a reasonable price. They overlook certain factors that might withdraw people from purchasing the house in the first instance. Whether your home has been abandoned for many years or it is under renovation, they will purchase it from you.
2. They Mostly Offer a Deal Right After Visiting the Property
You have a choice to not sell your home or to do otherwise after they visit your property. You do not need to think about the house repairs or how it will be resold. You decide and then the burden of the home is off your shoulders.
3. They Quickly Cover Closing Costs After an Offer is Agreed Upon
These companies will not charge extra costs. What has been decided upon is only what will be paid for. So you do not need to worry about any miscellaneous expenses.
4. You Won’t Be the One Looking for a Buyer
Finding a direct buyer can be a challenge especially for homes that are in poor condition. But selling to these companies will save you lots of stress and headaches.
Disadvantages of Selling to an Ugly and Pretty Home Buyer
The disadvantages are:
1. The Pay is Most Times Lower Than Property Market Cost
Selling a home quickly and easily comes at a cost. Your home will be bought by this company at 30% below the property value of the house.
2. Selling to New Owners Can Take a Long Process
For them to receive a good deal for the house, it will take time. Sometimes, it extends to more than a month.
3. You Do Not Need to Renovate Your Home to Improve its Value
When homes in bad shape have a little makeover, they improve and attract quality buyers. But when you sell quickly to ugly house buyers, they will pay a small amount, then renovate and sell for higher gains. You may want to click here to learn more about the advantage and disadvantages of selling to ugly and pretty home buyers.
The only noteworthy downside of companies that buy both ugly and pretty houses is that they offer low reasonable prices. Apart from that, regardless of your home’s condition, be sure that they will purchase it from you. When searching for one of such companies to sell to, remember that not all are reliable. They can be fake too. Follow the above-mentioned tips to help you out.