Find a Legitimate Home Cash Buyer?

If you want to sell your home quickly to a legitimate DFW cash home buyer, you should start your due diligence online. A simple search will give you links to legitimate Dallas Fort Worth cash home buyers like OutFactors.com, who have an online presence, explain their programs, provide testimonials, and offer a ton of useful information.

Key information to determine if they are legitimate:

• Is the company owned or managed by a person with a real estate license?
• Has the company been in existence for an extended time period?
• Is the company BBB accredited?
• Do they use standard state-approved contracts and addendums that are easy to understand?
• Is the closing being conducted by a state-licensed title company?
• Are they willing to customize the terms of the sale to meet your specific needs?
• Do you get to choose the closing date?
• Is the earnest money deposit a minimum of one percent of the sales price?
• If you desire, will they structure the sale so you get to remain living in the home after closing?

Signs of a Scam

There are many different types of home buying scams but most of them have things in common that you should be aware of. Here is a list of the shady tactics that many scam home buyers tend to use.

• They will suggest a “kitchen table closing” instead of closing at a state-licensed title company or a professional law office. A closing should always be done in an office by a professional neutral third party.
• They will pressure you to sign an agreement without giving you a chance to read what you are signing. A legitimate cash home buyer will make sure you read and understand everything.
• They will request you to sign a paper where there are blanks or sign a signature page with nothing attached. Honest companies will never request you to sign incomplete or blank forms.
• The contract documents are not standard state promulgated forms. Why aren’t they using the typical forms used by real estate agents?
• They pay a very small deposit directly to the seller instead of a title company or law firm.
• They have no or very limited online presence, but have small signs posted on street corners that say “We Buy Houses!” or “Cash For Your House”.
• They only create one copy of the contract with them keeping the original with a promise to get you a copy sometime later. There is a potential that they will alter the contract before providing you with your copy.
• They use high-pressure sales tactics, telling you that you need to make the decision today. A reputable company will never pressure a seller.

Now that you know some of the tell-tale differences between legitimate and scam cash home buyers, you can avoid being scammed by asking each company these questions.

If they are running a scam, they will not have good answers, or they will find an excuse to get off the phone. Most scammers are looking for a quick score and will avoid people that ask a lot of questions.