26 May How to Tell if Cash Home Buying Companies Are Legitimate

The cash home buying industry is growing, and no doubt you’re noticing an explosion of advertisements and notices, and you have questions. That’s good—you should thoroughly check out anyone you do business with. Home buying companies are legitimate, and here’s how you can tell.

Ask Questions

The company’s website will give you some answers. Find out who owns the company, what their experience is, and if they’re affiliated with a larger property investor. A website that has a form to fill out but doesn’t have a phone number listed should raise a red flag.

A legitimate company will welcome your questions and answer them to your satisfaction. Ask about how they determine the figure for the cash offer and how long it will take to close on the property. Most importantly, ask how much you will have to pay. A legitimate home buying company will not charge you anything, ever.

Read Reviews

Many home buying companies will list reviews or testimonials on their websites. These will give you some idea of customer satisfaction, but for a full picture keep looking. Check social media for additional opinions.

Also, research the company at the Better Business Bureau website. The BBB will give a rating, A+ through F (like school grades and list any complaints or actions against the company. It will also tell the names of the owners or officers.

Meet in Person

If you still have questions or doubts, ask to meet in person. Many cash buying companies operate from home offices, which is not unusual these days, but a representative from the company may be willing to come to your home or meet you at a convenient location.

Ask the home buying company to bring proof of funds with them. The cash buying company should be willing to show you a document from a financial institution verifying they have the funds on hand to buy your house.

Selling your home to a cash buyer may seem too good to be true, but the fact is, it happens every day. The vast majority of home buying companies are legitimate property investors. It’s a growing industry because there is a demand for the service, and there are thousands of satisfied customers. 

Still have questions about home buying companies in the Phoenix area? You can ask the folks at Max Cash Offers at this link.