We Buy Houses Business

We Buy Houses scams have been around since the first caveman sold his cave to another.  It is an unfortunate fact of life that many “we buy houses” companies or so-called real estate investors or “house flippers” take advantage of those in a tough situation.

The best defense to being taken advantage of is a clear understanding of how many of these scams work.  You’ll be able to recognize and avoid them – and perhaps warn others when you run into a scam artist.

Understand what you are signing

Most scammers will attempt to convince you to sign a lot of documents without explaining them to you.  NEVER sign anything without understanding what it is.  Many home owners don’t realize that by simply signing a deed document, they may be giving up title to their home.

Research the company

Most reputable we buy houses companies will have positive press coverage about them.  You’ll be able to find who owns the company, how long they’ve been in business, and what other homes they’ve done.  Always check the Better Business Bureau to see if they are listed and have negative comments.

Meet In Person

It’s OK to contact companies over the Internet or call that billboard.  But as soon as possible, meet the company in person – preferable at their offices – to ensure they are not operating out of a garage somewhere.

Don’t be locked up without cash on the table

There are a lot of people coming out of “no money down” real estate investing seminars that don’t have a clue about real estate.  Their goal is to get you to sign a document that allows them to “control” your home, so they can go find a buyer.  ALWAYS be sure you know what you are signing, and if someone wants to put a contract on your home they have some skin in the game – i.e. cash.

There are a thousand different ways consumers can be taken advantage of, but the first step is knowledge.  Remember – always do your research on any company you deal with from the plumber to the we buy houses company!