2020 and the months of confinement, social distance, and home office have made many, for different reasons, want to sell their house and move to a new one. If this is your case, What things must you consider before selling your house for cash?
Either because you have realized that your house is too big and it gives you too much work, that you want to move to the suburbs or another city because you will work remotely permanently, or because the months at home have made you realize that your family needs a garden, you may have decided that it is time to sell your house. What things should you analyze if the buyer offers cash?
Selling your house for cash can sound like a dream come true, but not all that glitters is gold. This industry is full of scammers looking to swindle you, so if you're considering selling your house for cash to an investor, make sure you do your homework. What things must you consider before selling your house for cash?
Here is a list of things you should know are red flags if you see them:
A foreign investor
People who contact you from foreign countries offering to buy your house sight unseen should set off an alarm. Be careful of buyers in foreign countries who aren't readily available by phone or video conference. Never take any action with funds deposited until you've waited the requisite time for a check to clear.
The only communication is via email
If you're dealing with a potential investor who only wants to communicate via email, you might be dealing with a scammer. Legitimate buyers have no problem showing up and walking through a property they intend to purchase.
The investor doesn't negotiate
As-is cash home buyers are in this market to find deals. If you're communicating with a potential buyer who requires no repairs and is willing to pay top dollar for your home, run.
How to do it right
There are many good reasons to approach a quick-buy investor, and homeowners can still make smart choices in this type of transaction. This is how you can avoid a scam.
Google the investor: Always do a Google search and look for independent reviews online.
Hire a lawyer: Hiring an attorney can help ensure that the process is followed correctly and legally.
Check references: Legitimate investors will have worked with other homeowners who can share their experience.