It’s very common for homeowners to wonder about selling to companies who buy houses. After all, you may see advertising like “We Buy Houses”, “We Buy Ugly Houses”, “We Buy Houses Cleveland” all over the place, some with enormous slogans plastered over the bottom of your screen or proclaiming that they buy houses fast! It makes you wonder if they are legitimate businesses, and if so, how did they manage to purchase my home so quickly.
Are These “We Buy Houses in Cleveland Companies” Credible?
How do I know if the local house buying companies out there are honest and credible?
At first glance, they all appear to be the same… However, before you deal with a local house buying company, we’ll walk you through some things to check for. Buying and selling houses is a legitimate and respectable industry that may benefit communities and home sellers in a variety of ways. But, like with any other profession, a small percentage of home purchasers in every market gives everyone else a bad name.
There are some truly wonderful, ethical people who work to better their communities one property at a time. Then there are the unscrupulous, dishonest folks who would sign the contract — as long as they were making enough money – regardless of their clients’ well-being.
They’re out there, believe it or not.
But, for the time being, let’s not dwell on the negative.
Let’s start by looking at what the best house flippers are doing.
What Reputable Cleveland House Buyers Are Doing
- Assisting people in improving their lives by providing immediate access to funds. Household cash is frequently required to pay unforeseen medical expenditures or to relocate to be closer to a relative. We can make it happen in a matter of days and provide a hassle-free transaction.
- Assisting sellers in getting rid of a troublesome property without having to advertise it with a broker and wait months for a sale.
- Creating local jobs. The role that real estate investors play in the area of job creation in the community is rather significant. Along the journey, contractors of all types work on the houses. Other people such as brokers, title agents, loan officers, administrators, and a variety of other professionals also get involved in the transaction. From start to finish, the average real estate transaction involves a substantial amount of people. Our investments assist in the creation of actual jobs for residents of [market city] Ohio.
- Purchasing things made in the United States. We spend a lot of money on goods created in this country, which supports jobs in our lumber mills, factories, supply shops, and distribution centers, among other places. The US economy relies on constant growth, which requires investment from real estate investors like us.
- Neighborhoods in [market city] are becoming more valuable. When we improve a home, we are contributing to the overall value of the neighborhood. We frequently restore abandoned and dilapidated houses, transforming them into lovely family residences. [market city] benefits from this behavior.
- Increasing the tax base. This happens when a new buyer takes over one of our properties, the new and enhanced value will result in a higher tax rate. Those taxes fund our schools, fire departments, police departments, libraries, streets, and other vital infrastructure. Once again, we’re working to improve our communities.
Pretty cool stuff, right?
Many individuals consider house flipping to be a get-rich-quick gimmick. This is exacerbated by ridiculous “reality” shows that exaggerate the drama because the truth of what we do on a daily basis is actually quite uninteresting.
The majority of our work entails coordinating with a large number of people to ensure that things are completed on schedule. We have a lot of moving elements to keep track of.
So, let’s come back to how you might utilize this information to determine if someone is a legitimate investor rather than a house-buying con artist.
How To Ensure You’re Working With A Reputable Local House Buyer
When you speak with a local house buyer about the possibility of selling your home… Make sure they’re respectable, informed, and honest, ask them some of the following questions:
- How do you assist your customers?
- What services do you provide to others?
- Could you tell me more about your process?
- What feature of your company makes you the most proud?
- What is the best way to characterize your investment philosophy?
- How can I be sure you’ll complete the sale of my home when you say you will?
Second, seek for tell tale evidence of the strategies used by those few dishonest characters.
- “Kitchen table closings” – If a property buyer tries to convince you to sign the deed (ownership) of your home over to them at your home instead of a professional location such as a closing attorney or title business… Be wary. The actual closing of the sale will be performed by most reputable house buying firms at a neutral third-party location such as a title business. This ensures that everything is done correctly and on time.
- Pressuring you into a fast closing – If a house buyer tries to pressure you into selling your house and says that you have to make the decision today, be leery. The majority of scammers are seeking a quick score rather than an in-depth interview.
It’s likely that they’ll find reasons to hang up and move on to someone who doesn’t ask as many questions.
True investors, on the other hand, who run honest and ethical [market city] house-buying services, create long-term enterprises based on connections and community development. So, when you’re looking at a company that says “we buy houses in [market city],” keep this in mind… Never be hesitant to inquire!