Ways Con Home Cash Buyers Use
You should be take caution with scammers by hiring an attorney to scrutinize the sales and purchase agreement before you sign them and know the reputation of the buyer before you finalize the transaction. When you sell your house for cash you are exposed to several scams. Here are tricks that are scamming home cash buyers use.
Do not proceed with the transaction if the buyers insist on paying cash since the buyer can offer you fake money, less money or hire robbers to attack you afterward. You will not know if the money is complete or not because there will be no time to count it at that time. There are many secure cashless payment options like bank transfers that the buyer can use.
Equity skimming is a method that most scammers use by convincing homeowners to transfer the deed of the house before they make payments. The equity of the homeowner is wiped out after the documents are transferred to the scammers. They will either resell the house or rent it out to make a profit and later acquire a loan on it.
Some buyers who claim to be foreigners may be trying to make you believe that you will get a good offer since most of the locals believe the foreigners are rich. Most of the scammers who claim to be foreigners insist on email or phone call communication but they never make a physical appearance. They will get your contacts online once your house is listed online. You will not know when and how they will hack your bank account and transfer your money to their bank accounts or shop online.
A buyer who offers you the highest offer than all the other buyers may not be having good intentions. The buyer may pay a less the agreed-upon amount of money later after you excitedly sign the documents before receiving payments because of the fear of losing a good deal.
If they do not have earnest money to bind the contract, do not hold the house for them since they may be brokers of other buyers or they are only window shopping prices. Demand that the buyer completes the reaming amount within four or five days or you will refund the earnest payment and sell the home.
The may make several physical appearances and portray fake or rehearsed confidence to gain your trust before they make their move. They will pressure you into signing the sale and purchase agreement since they have your trust so that you and your attorney do not get time to analyze the documents and find out the alterations they did in the documents to steal from you. Visit https://www.nolabuyshouses.com/ to find a company you can trust.
You could also visit https://www.huffpost.com/entry/how-to-be-a-house-flipper_n_5b522b4ce4b0fd5c73c52524 for further reading/watching about this topic.