Have you ever wondered how to know when you’re being swindled? Many homeowners who are selling their houses may not recognize the signs of a scam until it’s too late. To avoid this situation, it’s important to work with an honest real estate investment firm like Baile Properties. After 20 years of selling real estate for cash in St. Peters, MO, these professionals understand exactly what it takes to weed out the frauds from the actual cash buyers.
Top 5 Tips For Spotting A Phony Cash Buyer
1. Out-Of-Towner Or Traveler
If the cash buyer says that they’re from another state or traveling and don’t seem to have a legitimate reason for wanting to buy a house in your area, you could be dealing with a phony. Real estate professionals say that if the buyer doesn’t show much interest in receiving more detail about the house, then it’s most likely a scam.
2. Willingness To Offer Details About Finances
Baile Properties says that a cash buyer who is willing to send statements and bank records over email without meeting you first is most likely not legitimate. If this is the case, then it’s best to stay alert to the possibility of a phony.
3. Story Sounds Like A Scam
Nearly everyone has experienced a phone call or email scam, and while many of the stories sound legitimate, they all fit a similar structure. When your cash buyer’s story says that they’re not originally from the area or contains random details that don’t seem to pertain to the situation, real estate agents from Baile Properties recommend hanging up the phone or deleting the email.
4. Overly Trusting, Rich & Isn’t Well-Known
This is one of the easiest ways to spot a phony cash buyer. When someone contacts a real estate professional about purchasing a house they’re selling and are instantly willing to trust them without any references, it’s important to take a step back and reevaluate the situation. While this could be a genuine buyer, real estate agents need to be sure that they don’t go through the entire process only to discover they’ve been swindled.
5. Will Send Money Immediately
Most homebuyers don’t offer cash until they’re absolutely sure this is the house that they want. If a person is more than willing to send a down payment to a broker before money has even been mentioned in the discussion, it’s very likely that they’re not the real deal.
Baile Properties encourages homeowners to be aware of what you could be facing when selling your home. Call (636) 614-6629 to set up an appointment with these professionals today, or visit their website for more information.