Are “We Buy Houses” companies a Scam?

Over at RealEstateTopsites.com have been seeing chatter all around the top real estate websites that revolve around the topic of those real estate companies that buy houses nationwide…that typically consist of a large group of cash house buyers.  We’ve had a lot of questions from our website visitors asking us if they are legitimate or not?  Well, of course there is no shortage of scams in the real estate industry, just like any other industry, but according to Zillow, housing scams are still prevalent.  But how does a seriously motivated home owner, who’s in a very vulnerable state of mind, prevent himself or herself from becoming a victim of a “we buy houses scam”?

Online-Housing-Scam-or Legit

  1. Don’t give out too much information during your initial phone conversation with the investor buyer
  2. Ask the investor as many questions about his/her company upfront, BEFORE you meet with them in person
  3. Don’t every give any financial information to the investor that you would want to be held in confidence.
  4. Verify ALL information and the investor’s personal identity before you have them come out to your house to give you an offer.

To answer the question at hand, there are many completely legitimate and professional investors that will buy your house cash all the time, all over the U.S…and they do it the right/moral way, BUT you always have those few that have to find a slimy way to make a quick buck or two, and asking detailed questions and then verifying the answers is a good place to start.

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