You’ve probably seen the signs and billboards advertising investors who buy houses. If you’re in a difficult situation where you’re financially strapped, or your home is at risk of being foreclosed, these ads can be tempting – call a number, get an offer, and walk off with a pocket full of cash within days. But there are some things to consider before going with one of these companies.
Many of the signs you see are indeed legitimate companies who buy houses – there’s no doubt about that. The problem arises when you realize that their corporate offices may be in another state,whichmeans you’ll be dealing with the issue of a company that may not be intimately familiar with local neighborhoods, thus cannot make an accurate estimate on your home’s value.
Another issue may arise if the investor tries to get you to sign a contract based upon a phone estimate, rather than reading over the paperwork in detail and making sure that the offer to which you’re agreeing is the one you think. Making sure you comb over any contracts in detail before putting pen to paper. Just like in any business, there are honest people and dishonest people – protect yourself by checking every detail.
A good way to increase your chances of getting an accurate offer and a personal relationship with your real estate investor is by working with someone local who knows the area market very well and can work closely with you to get you the best possible deal.