Cash buyers can be a Godsend for you and your family. If you find the right cash buyer to work with, they can allow you to sell your home quickly and for a fair price. You don’t have to do any extra renovations to close.
However, there are some out there that claim themselves to be cash buyers but are really scammers. They don’t have the cash that they claim to.
See below for several signs and indications that you might be in communication with a wannabe, rather than a legitimate cash buyer. Be sure to use this guide to your advantage.
1. They Don’t Have References
This might be the most obvious sign of all. If you have a sketchy feeling about the “cash buyer” that you’re working with, be sure to ask them for references that you can contact.
Scammers won’t make it easy for you. They might try slipping you a phone number to one of their relatives to act as a former client.
Reputable companies need to have a strong online presence with accompanying reviews. Both Google and Facebook have streamlined the process by associating and validating the review with the reviewer’s account. Keep in mind how many reviews are present and how recent the reviews are. Generic comments with no link to an online profile should be ignored.
There are some sites that will have phony reviews such as
“So and so was great to work with.” –Mark P.
A site with this type of review should be avoided.
2. They’re Taking a Blind Leap
While the cash home buyers process isn’t overly complicated, to begin with, you can tell when the process seems to be too rushed.
For example, if the cash buyer is too eager to get your home under contract, take it as a red-flag. Many companies, and even iBuyers, strive to get as many houses under contract and only buy a select few. Many will send in an inspector and use the inspection report as leverage to get financial concessions.
A reputable cash buyer company has a home buying process in which they’ll review the details of your home and set up an appointment. After the appointment is when they make you an offer on your home. It’s quick and easy, yet efficient.
3. They Don’t Have a Website
Scammers don’t want to be traced back to anything. They want to give you as little information about their “company” as possible and hope that you don’t ask any questions along the way. Road signs that read “We Buy Houses” are an example of this type of company.
A huge telltale sign that they aren’t legitimate is when they don’t have a website set up for their service. In this day in age, any company worth its name has one.
A company’s website is where you can go to learn more about the company’s service, brand, employees, and processes. If they don’t offer that, then take it as a sign you should cut ties with their service and look elsewhere instead.
4. They’re Unprofessional
A cash buyer service is, first and foremost, a business. They want to treat their clients with the utmost respect throughout the entire process.
If the cash buyer that you’re speaking with seems unprofessional, then it can be an indication that they’re a scammer.
They might forego certain etiquette in order to get you to sign the dotted line faster. If it seems like they’re pushing you along uncomfortably quick, then stop communicating with them right away.
5. Financial Details Seem Off
At some point, you might request to see some financial records from the cash buyer as proof that they can afford to pay you what they’ve offered.
If they seem to act quickly to provide you with it, you should take it as a risk. Odds are that those financial details are fraudulent.
A reputable cash buyer will give you all the financial details that you need but in due time. All the details will be backed up by legitimate companies that you can request to be reviewed by a third party.
Find a Reputable Cash Buyer That You Can Work With
Now that you’ve seen all the different warning signs that you’re dealing with a scammer, it’s time to find a cash buyer that you can trust!
Be sure to visit this page to see why you should trust Wake County Home Buyers whenever you need to sell your home quickly.
For more inquiries, please begin by reaching out via our contact us page and we will be happy to assist you further!