In most cases, a property is one of the most important assets one has. Selling it may be quite a challenge nowadays, as where there is money, there are also good chances for buyers to try different scams. Selling a house implies a financial commitment, which is why it is essential you follow every step and be very careful throughout the entire process. Read the article below to learn how to watch out for the quick house sale scams you may encounter with during the selling process.
Price reduced on the last minute
One very common quick house sale scam is related to last minute price reduction. You have established to sell your house to a certain company and have negotiated a fair price for them to pay for your property, but the morning you have to sign the contract of sale, the company claims that they cannot offer you the sum of money you have initially discussed about, but a much lower price. You are left in a position where you have to accept the lower price, since you have already established what your next moves should be based on the sale you agreed on. In order to avoid such situations from happening, it is mandatory that you do some background check of the company or buyer you are about to deal with and to see whether or not they are trust-worthy and reliable.
Offers that seem too good to be true
Another very popular house sale scam implies unrealistic high offers. The buyer will come to you with offers that just seem too good for you to miss them. However, you should know that the intent behind these great offers is that the buyer wants only to get the sellers initial interest. As time passes, the buyer will start reducing the price and make you a below-the-market offer when you are most vulnerable, so you are forced to accept it.
The so-called cash buyers
Some property sellers who have little to no experience in the real estate domain sometimes fall for the “real cash buyer” scam. There are some buyers that promote themselves as being able to purchase your property the very following day on cash, but truth is once you start asking them more questions, they get stumbled and they start calling various challenges they have to “deal with” until they actually buy the property. In such cases, it may take even several months until you close the sale, which can actually ruin your plans you initially have. This is, again, one of the reasons why it is so important to learn more about the buyer you are about to sell your property to before you actually close any deal and this can be easily done with some quick online research. Although things have changed a lot in the past years and the number of these so-called cash buyers was significantly reduced due to strict laws applied in this industry, there are still a handful of people who continue to claim themselves cash buyers, so make sure you avoid them and work with one of the many others professional and reliable buyers.
All things considered, these are some of the most common quick house sale scams you should definitely avoid if you want to benefit from the desired results.