Spotting Scams When Selling a PA Home for Cash
Selling a home in Pennsylvania for cash can be a convenient way to sell your home in a shorter timeframe especially if you are trying to race the clock with financial obligations. But some homebuyers out there are scammers and can leave you without the money promised and without a home. When selling your home for cash in Pennsylvania it is important to be aware of signs that a cash buyer is scamming you.
Pressure tactics to get you to sell
If you have received a cash offer on your home and the offer is coming from someone who is putting pressure on you to sign the contract immediately after receiving it and wants you to hurry up and accept their deposit that should be a huge red flag. A trustworthy cash buyer will never pressure you and will not be offended if you turn their offer down. They are not hoping to rush you through the process so that you will not realize what they are doing. This is a clear sign of a scammer.
Unsolicited offers when spotting scams when selling
If you have not even explored the possibility of selling your home and have not communicated to anyone that you would be interested in selling your home but have been contacted by a homebuying company about the possibility of selling your home for cash. This is another red flag.
A trustworthy and legitimate cash homebuying company will advertise its services but it will not contact homeowners who have not expressed an interest in selling their home and try and pressure them into selling with an offer they were not looking for. If you receive an out-of-the-blue offer to sell your home quickly with an all-cash offer you should be skeptical.
Poor transparency or communication
When you receive an offer from a cash buyer and company it is always in your best interest to ask several questions about the company itself and their homebuying process. Transparency is crucial for a reputable company. A company that has nothing to hide will willingly and openly answer all of your questions and even point you to extra sources of proof that they can back up their legitimate business practices. They will never try to hide or cover up or be unwilling to answer questions.
Physical office space
A cash homebuyer without a physical office address or an actual website could be a sign of a cash home-buying scam. You want to make sure that you do your homework on the company address, phone numbers website, and even the name given to you of the person you are working with. You want to make sure that these are actual physical things that exist and are not temporary and will only disappear once you have been scammed.
Inconsistent answers or information
It is always in your best interest to ask several questions about the cash homebuyer company and how they conduct their business. Even if you feel you already know the answer to the question ask anyway and ask in several different ways. This is a way to test a cash homebuyer for their ability to conduct a trustworthy business transaction.
If they give you a different answer for the same question stated differently or if you ask the same question over and over and they give a different answer each time this is a sure sign that they are trying to make up an answer on the spot and are not good for their word.
Before selling your home to any cash buyer you want to make sure that you research the company and know the fair market value of your home. Make sure to ask about all of the fees associated with selling a home and who is going to cover what closing costs. A cash homebuyer will encourage you to read their contract carefully and word for word and will give you time to do so.
It is also a good idea to seek the advice of a third-party real estate professional to help you understand the contract and decide if it is the best plan of action for you in your current circumstance to sell your home quickly for cash.
If you require selling a Pennsylvania home quickly we can help. Contact us anytime and ask us about our fair and transparent all-cash offer that can close on the sale of your home in as little as seven days.
