Differentiate Scammers from Legitimate Buyers

By
Real Estate Sales Representative with DIR-USA.com

Differentiate Scammers from Legitimate Buyers - Orlando House Buyers: With the onslaught of foreclosures in this economy there are many scammers out there professing to be ready to help. When you are having difficulty paying your mortgage you may be vulnerable to those who are less than honest. It is important that you do your homework on a company or an investor to be sure of whom you are dealing with.

Differentiate Scammers from Legitimate BuyersSome things you should look for are fairly common sense. Other things take a bit more savvy and knowledge of the real estate processes to spot a scam. Either way you can tell by a company’s reputation whether or not they are legitimate. Advertisements don’t count as reputation. Just because you see an ad several times per week on TV doesn’t necessarily make the company legitimate or reputable. It only means that they have enough money to buy television ad time.

When you are approached by a buyer that seems interested in buying your property, see about meeting him or her at the office. It’s important that there is a way to reach them if you need to. If it is a company, even a small one, there should be a staff even if it is just one administrative assistant or receptionist.

Find out how they plan to pay for your property. Most companies in the investment business operate on lines of credit. You can ask to see the proof that they do have a way to finance the purchase and you can even consider asking for good faith money.

Look for organizations that the buyers belong to. There are numerous associations that real estate professionals can join and membership gives another sign of reputability. The BBB membership is a no brainer. You can also give the BBB a call to see if they have had any complaints about the company. There are many complaints about these scams. The BBB has received many of them so make sure your buyer isn’t on that list.

Read the contract through completely before you sign it. When you’ve read through it, read it again. This is a big deal and you don’t want to be scammed here or sign onto something that will cause you more trouble than you are having already. The common sense watch involves the buyer pressuring you in any way. That’s a big red flag and you should stop until you are positive that all is well.

 


Differentiate Scammers from Legitimate BuyersOn The Spot Home Buyers, LLC buys Orlando houses and we want to buy yours. If you have house for sale in and around the Central Florida area we may have an interest in buying it and we will give you a written offer within 36 hours. We buy houses everyday from people in situations just like yours. Whatever your situation, foreclosure, vacant house, expired listing, behind on payments at On The Spot Home Buyers we’re home buying experts who will work with you to help overcome all your real estate challenges. We also buy houses that are not distressed. If you have equity or maybe even you’re house is paid for, we can buy your house too.

To submit your house for a quick cash offer, visit our website at www.orlando-house-buyers.com or call us direct at 407-352-7653

 

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Comments (1)

Jerry Cecil
Bloomtree Realty - Prescott, AZ

Nice post.  I think we all should listen to this.

Dec 14, 2010 11:51 AM