Don’t get scammed! Many helpful websites like LifeHacker have posted about real estate scams. More concerning, State Departments of Justice and Consumer Affairs websites in North Carolina, and Pennsylvania have issued warnings over the past several years about criminal fraudulent activity in the real estate industry that takes advantage of homeowners who are in danger of foreclosure or in desperate need to sell an older home in poor condition. These scams often involve counterfeit “we buy houses” businesses.
Here Is How “We Buy Houses” Scams Work
According to these websites, here is how the scam works. The North Carolina Department of Justice explained it most concisely,
“Homeowners respond to a “we buy homes” ad or mailer. But instead of buying houses, most of these companies want to convince you to sign over control of your home. The company then leases the property out to a new tenant. As a result, the owner loses rights to their home but is still responsible for making the mortgage payments.” – North Carolina Department of Justice Website
8 Signs Of A Great “We Buy Houses” Business
- A great “we buy houses” business will have a professional website. Make sure the site is updated and has visible contact information. Additionally, there should be pictures on the about page with the owner and or staff.
- A great “we buy houses” business will have many good reviews, not just on their website, but also on sites like Google or Facebook or Yelp. Read them and make sure they are from real customers, and not the owner’s mom.
- A great “we buy houses” business will be listed with the local Better Business Bureau. Check with the BBB about the company.
- A great “we buy houses” business will give you a full-disclosure cash offer with no hidden fees.
- A great “we buy houses” business will never ask for your home title without working through legitimate local businesses to help close the sale.
- A great “we buy houses” business will not require you to pay for repairs on the property if they present you with an as-is offer (which almost all of them will do).
- A great “we buy houses” business will be professional, courteous and NEVER make you feel pressure to sell other than perhaps setting a deadline for you to accept their offer. They should always give you ample time to consider the offer thoroughly. Do not fall for the pressure of “only good for 24 hours type offers” on your property.
- A great “we buy houses” business will not attempt to talk you out of talking to a realtor about a comparative marketing analysis or even hiring a home appraiser if you wish to do so to double check their offer.
717 Home Buyers Is A Great “We Buy Houses” Business In Pennsylvania
We have worked hard to build a great business reputation. We meet all the criteria above and more. We have over 45 Google Reviews and growing. We can supply references in Pennsylvania of real people we have helped. We are listed with our local Better Business Bureau. We never pressure our homeowners to sell, never make you pay for repairs, never have hidden costs, nor do we try to stop you from getting comparison offers. You can review our entire process here and learn all about us on our website.
If you are in trouble with a pending foreclosure or simply need to sell a home fast, please give us a call or fill out the short form below and we will contact you. We are here to serve. If we can help with a great offer, we will. If not, we will try to connect you with another professional who can.
About Josh Eberly
A native of Lancaster County, Josh’s roots run deep in his commitment to this community. He especially enjoys helping people find solutions through real estate. Josh is a seasoned investor with experience in many sides of buying and investing in real estate. Josh enjoys reading, listening to podcasts, digital marketing, and hanging out with his family. Feel free to connect with him here.