Once you’ve made the decision to sell your home for cash, you may have some questions, not the least of which is “how do you know if the cash home buyer is a safe option?” How can I tell whether a cash buyer is respectable? There are a few red flags to look for when determining whether or not a cash house buyer is legitimate. Let’s take a closer look.
How to Know if a Cash Home Buyer is a Safe Option
1) They are a business that has good reviews and references
Always check out a cash homebuyer online whether you’re looking for one or after you’ve been approached by one. Consider these:
- Is there a website with strong and coherent contact information?
- Is it possible for me to call and speak with them instead of solely speaking through email?
- How long has the company been in operation?
- Do they have nice reviews?
- Do they have any references?
Getting answers to these questions is a simple step that would assist you in determining the credibility and trustworthiness of the cash buyer in your area. It’s crucial, though, not to stop here!
2) They have the capacity to see the house in person.
Once you’ve made contact with a cash home buyer, they must always give the option to come see the property in person. The potential to sell your property remotely during the COVID-19 pandemic may be enticing and is a safe alternative. However, if you like, make sure you have the opportunity to exhibit your home in person.
Why? It assists in determining whether the buyer is local. It may also be beneficial if your images or videos do not portray your property accurately enough. In this instance, the cash buyer may need to come to your home to make a more informed final offer. If a buyer makes an offer on your home without seeing it or viewing any photographs or video, make sure you read any papers thoroughly before signing to verify that any risk is not passed on to you.
3) Clear terms and fees
No one likes to be caught off guard by fees or be duped out of money. A genuine cash buyer will be honest and explicit about the parameters of buying your house for cash when they make an offer. If there are any closing fees, you should be aware of them.
Additionally, it’s important to keep in mind that like during a traditional home sale, you shouldn’t be paying any fees before closing. Be wary of a cash buyer who asks you to pay any fees before the sale is final. It’s also vital to remember that, just like with a regular property transaction, you shouldn’t pay any fees prior to closing. Be wary of a cash buyer who demands payment of fees before the sale is completed. This is a telltale sign that the cash home buyer you’re speaking to might not be safe.
4) They never put any pressure on you
It’s a major choice to sell your home. A reputable cash buyer would never compel you to sell or finish a purchase sooner than you want. You should be able to take as much time as you need to gather answers to your questions and make the best decision possible.
Be aware of a buyer who appears overly eager, such as bringing up a payment or supplying financial data before you’ve even asked for it. As a “sign of trust,” some unscrupulous cash purchasers will do this. They’ll send you a check without asking, but it’ll be for more than you thought. Then they’ll say they made a mistake and ask you to return the money by wire transfer. The check will not clear if you do this. At no stage during the procedure should you feel rushed. This is a great indicator that the cash home buyer you’re dealing with is safe.
Is Dealing with a Cash Home Buyer Safe?
If you want to sell your home to a cash home buyer, go ahead and contact the KC Property Guys. We are the foremost cash home buyers in Kansas City. Visit our website at https://www.kcpropertyguys.com/.