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How to Determine Cash Home Buyers Who are Scammers

Selling a house is exciting because you expect to get a profit from it. However, it is also scary because you have to worry about being scammed. What method are you considering to use to sell your house? Selling a house through a real estate agent is slow because of the lengthy legal procedure and the advertisements that the realtor has to do. A cash home buyer does not need you to advertise the house because they come to the ground for inspection; hence it takes a short time of about two weeks to sell to the house directly to a cash buyer. The realtor’s commission makes this option more costly than selling a home direct because there are is not deductible commission by the buyer. Do you know how to detect scammers? Here are tips to understand that the cash home buyer may be planning to scam you. You'll want to get more insight into selling your house direct

The buyer does not make a physical appearance but insists on completing the transaction via email. The emails may contain a virus that will be used to collect your private information, such as bank details, so that they can steal from you. They can do online shopping or transfer the money to their bank accounts without your knowledge.

Some buyers will send you a bouncing check that has an excess amount. They will pressure you to refund the excess amount before the check is cleared. After you make the transfer of the excess amount, you will not refund it because the check will bounce.

Do not meet the buyer at a lonely place, even if they claim that the abandoned building is where their office location. The buyer should meet you at a public place like a coffee shop where you feel safe. Tag your lawyer with you to be your witness as you sign the contract of sale.

A scammer will insist on paying you cash. Some of the cash may be fake money, the money may be incomplete, or they may send robbers after when you are done with the meeting. Insist on a secure mode of payment that does not include holding cash. They should make a bank transfer. You'll want to know how to best sell your property quickly

It would help if you were careful with a buyer who wants you to sign the sales contract and transfer the documents of ownership of the asset before they make the payment. They may be planning to use your documents to sell the house without your consent or acquire a loan on the property or rent it out and acquire the loan later after they are done making profits out of it. They will never pay you. Furthermore, they will leave you to handle the trouble of paying the loan or lose the asset to the lenders.

They should make a down payment for you to hold the house for them as they source for money to clear the balance. If they cannot afford to make the down payment, they may be acting as brokers for other buyers, or they may be window-shopping prices and will never show up again. Also, here's how you sell a house fast: https://youtu.be/59UsFOMb0kY

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