Watch out for dishonest companies that buy houses
As mentioned earlier, not all companies that buy houses are genuine. And you don’t want to be a victim of a dubious company while trying to fix your own issues that may be urgent. Some of these companies are not professional in their dealings and may just leave you in a vulnerable position by engaging in dubious practices. How then do you protect yourself from such companies?
Here are some practices to look out for to detect unscrupulous quick house sale companies:
· Watch out for companies that insist on you signing the contract upfront
You need to be cautious about companies that will insist on sending the paperwork to you by courier for your signature. This is usually a strategy that aims to put pressure on you to sign the contract fast, sometimes even before reading it. Such companies will not have your interests at heart. Rather, they are out to tie you down to sell your house to them, no matter how long it’ll take.
A genuine ‘We Buy Any Home’ company will be realistic enough to give you time to read through the paperwork and consult with your lawyer before proceeding with the sale. Some companies will even send a representative to discuss the process with you. This way, you can ask all the questions you may have so that you make an informed decision in the end.
· Upfront charges
If a property buying company proposes some upfront charges, you’ll certainly know that they’re up to no good. Make sure you keep away from companies that will want to charge you for either solicitors’ services or surveys upfront.
By doing so, these companies are transferring transactional costs that should be their responsibility to you so that they don’t bear any costs or put their money at risk but instead profit unfairly from the sale.
· Last minute negotiations
Look out for house buying companies that make an offer only for them to reduce it at the last minute when you can’t pull out from the sale. Some of these companies may reduce the amount offered weeks before completion. Be alert.
To avoid such a situation, you need to ask for a copy of the valuation report so you’re certain about the offer and are confident it is fair. If you realise the company is dragging its feet sharing the report, it just may be a tell-tale sign that things aren’t good. At this point, you may need to switch to another company that buys houses.