Know About The Legitimate Home Buying Companies

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Know About The Legitimate Home Buying Companies
Are home buying companies legitimate? Yes, but
there are a few bad apples like any other
business. This is why, when looking for companies
that buy houses for cash, and youll need to do
your due diligence. Ensure the one you are
dealing with is legitimate before providing
sensitive info, signing anything, or sending
money.
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Know About The Legitimate Home Buying Companies
Make Sure Their Company Exists
Do your research. It wont take much effort and
time. If you got a call from someone saying
theyre local house buyers, ask basic questions.
Whats the name of their company? Whats their
actual address? Who owns the company? Do they
have a website you can look at? A legitimate real
estate company wouldnt mind providing you with
all these details to make your mind at ease.
Its an instant red flag if the one youre
talking to couldnt give answers to these simple
questions.
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You can make a Google search to confirm if the
home buying companies are valid. You can look
them up on the Better Business Bureau (BBB)
website. If the buy your house for cash companies
is unlisted, thats another red flag.
Understand The Money Flow in a Legit Real Estate
Transaction
Remember that money does not flow from you, the
seller, to the buyer. Its always from the buyers
to you. Scammers usually ask for high processing
fees, and the next thing you know, they have run
away with your money. A legitimate Ohio cash
buyer will give you an offer for free. You will
then decide if you accept or decline it.
Once you receive the offer, youll get the cash.
Of course, you may have to pay some money to the
bank if you still owe money on the house, but
youre not going to shell out any cash to sell
the house.
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Wait Until Closing Before Exchanging Money and
Signing Over The Deed
The only order that should follow is this The
buyer gives you money, then you sign over the
deed. If the companies that buy your house want
to do things differently, thats an automatic red
flag. Never pay anything upfront, too, even if
the fee seems reasonable. You may encounter terms
such as service charges or market risk fees.
These so-called fees may be a way for a scammer
to get cash out of you.
Also, keep in mind that signing over the deed is
only done during closing with the presence of a
real estate attorney. So if the home buying
companies want you to sign it over before close,
say No. Another thing to remember is not to sign
anything until you have money in hand or have
consulted a lawyer.
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The home buying companies are the ones to go to
if you want to sell a home fast without hiring a
real estate agent or doing any upgrades or
repairs since these companies buy houses as-is.
You have to make sure you are dealing with
reputable companies that buy houses for cash near
you. The three things mentioned above can help
you avoid illegitimate ones.
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