How to Know if a Cash Offer for Your Home Is a Scam
For those looking to sell their homes, taking a cash offer for their property can sound appealing. But how do you know if a cash offer for your home is a scam?
To help you navigate the intricacies of what is real and what is not, here are some tips to keep you protected and aware of what is and isn’t legal before selling your home for cash [link to cash for your home the proctor page].
Your Home Isn’t for Sale, But You’re Receiving Phone Calls from People Offering to Buy It for Cash
If your home is not listed for sale, but you’re receiving phone calls from people offering to buy it for cash, it could be a scam.
In addition, solicitation can also come in the form of letters and text messages as well. This is an immediate red flag that a cash offer for your home is a scam.
Most of the time, these requests are coming from:
- House Flippers
- Home Scammers
The majority of these people are trying to exploit you.
It will seem like they’re doing you a favor. But in reality, they deceive you into believing the quantity of money they are offering is higher than what your home could sell for, relying on the fact that you do not know the true value of your home.
Instead, they offer you less cash than you could have gotten if you put it on the market. This often happens to older people and those who do not know their home’s value.
Even if your home is up for sale, beware of these solicitors.
Be proactive by understanding the true market value of your home, doing your homework, and assuming everyone are guilty until proven innocent. The smartest thing is to consult with a real estate expert if you are entertaining the idea of selling your home sellers resources.
Playing the Hero Game; A Friendly Cash Offer for Your Home is a Scam
People grabbing your attention with a cash offer try to play the hero and treat you like a friend. They “just want to help,” they say. This red flag could cost you everything, including your home. Be aware of whether or not a cash offer for your home is a scam.
These con artists usually go after retired seniors whose homes are in foreclosure or have significant repairs to list the house for sale. If you or someone you know falls into this category, be aware of the hero scam.
A psychologist and professor at Scripps College in California, Stacey Wood, says, “ I see these scams a lot when I investigate elder abuse and exploitation cases.”
If you are planning on selling your home, her best advice to guard yourself against these scams is to call a reputable real estate agent before you do anything.
You will get the same, if not more, money when you leave it to the professionals to do things the right way and keep you protected.
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