Where homeowners in Phoenix seek quick real estate solutions, crooks often try to take advantage of them. Arizona has become one of the top states targeted by scammers. But don't worry-being aware of common "I buy houses cash" scams can help you avoid falling victim to their deceitful tactics.
Here are the steps to avoid common scams in the industry so you can have a secure and profitable transaction.
Identify Low Offers
Scammers may entice homeowners with unrealistically low offers to catch their attention. They prey on the hope of a quick sale and exploit vulnerabilities in times of urgency.
Consider Upfront Costs
Some scammers request payments before the sale can proceed. One of the benefits of cash buyers is that they don't require any upfront fees to buy your home.
Review the Wait Times
The exact timeframe for receiving your money can vary depending on the company you're working with and the details of your transaction. However, in general, you can expect to have your money in hand anywhere from a few days to several weeks.
Real estate scams offer weirdly short wait times. You may be promised your cash in a few hours, only for the company to disappear after a few days.
Verify the Company's Address
Scammers may try to create the illusion of legitimacy by providing fake addresses. If you have doubts about the address, reach out to the company's customer support for clarification. Real cash buyers will be transparent and willing to provide the necessary information.
Review Their Local Presence
Be cautious if the buyer claims to be interested in your property but has limited knowledge of the area. This could indicate a scammer operating from a distance.
Get Everything in Writing
A contract outlines the terms of the transaction and protects you from potential fraud. We recommend including must-have items such as:
Purchase price
Closing date
Contingencies
Signatures
If you have questions about the process, ask your real estate agent for advice. Seeking legal help is also a good idea. You can find a lawyer through the American Bar Association or LegalZoom.
Don't Rush the Sale
Cash offer scammers are more likely to pressure you into selling. They'll rush the sale, so you don't have time to investigate the offer.
If something feels off or too good to be true, take a step back and reassess whether it's a fair cash offer. If you're not ready to sell and the buyer won't take no for an answer, walk away from the deal.
Judge Their Transparency
Scammers may avoid providing clear, verifiable information about themselves or their company. For example, they may disclose their address but leave out details about whether they're licensed.
When to Trust "I Buy Houses Cash" Offers
Approach "I buy houses bash" offers with caution. Verify the company's contact information, review their offer carefully, and take your time with the sale.
If you're looking for a trustworthy buyer in Phoenix that promises fair market value, sell your home to AZ Home Buyer. We offer transparent purchasing agreements that protect you. You'll know exactly how much money you're getting from us, with no hidden charges.
