The Solution to Your House Sale Problem

With the status of today’s economy many people are faced with very high living costs and unemployment has seen a rise as well.  In such situations not only do people often need to get rid of their house as fast as possible, it is understandable that they want the best price they can possibly get. As you can imagine, the real estate market in today’s economy is incredibly volatile and selling a house isn’t easy at all and is definitely done in a few days, let alone that you get the best possible price for your property. Despite all of this there are companies that claim to be able to buy your house within a week and believe it or not for the best price possible. The Independent says beware of cash buyers for a good reason. There is this saying:  “If something seems too good to be true, it usually is.” Well here’s what you need to know and what you should be mindful of.

What are Quick House Sale companies exactly?

These are companies that offer to buy your property within a short period of time or to quickly find a third party to do so. They also offer to pay for your property in cash and the amount they offer is usually around 90% of the property’s full market value, which is very attractive to desperate house owners.

Tactics Used by Quick House Sale Scammers

These buying companies use all types of horrible tactics to rip sellers off. See this article by Money Bull Dog which features  gazundering, just one of the many ways in which these companies take advantage of their customers.

Other complaints of people that have been through scams like these are:

	Exclusive Contracts		Misleading Claims
	The buyers close a contract with the seller which prevents sales to other buyers.		The buyers make misleading claims about things such as the value of the property.
	Vague fees		Cash Buyer
	The buyers omit clearly mentioning fee structures to the seller.		The buyers falsely claim that they are a cash buyer.

	Gazundering
	The buyers reduce the sale price at the last moment leaving the seller with no other choice.

Educate yourself

There is a lot of fraud going on in the real estate business. You do not want to become the victim of one of the scams. Not only quick sale companies are wrong doers and that’s why you should make sure to educate yourself before you are selling your property. This also goes for property buyers. Make sure you only deal with licensed and renowned professionals. Sure the fees they charge might sometimes scare you off, but at least they are clear about what they offer and ask, as opposed to scammers who are never clear about their fees. But before doing business with anyone you should do your own research. The internet nowadays offers tons of advice on the industry. Official organizations and government departments make important info available online so you have less work.  Click here for the FSA consumer information or click here for money advice service. These are just a few examples. You should also talk to professionals; ask friends and family or acquaintances what they know and what they would advise you to do.

 

Alternatives that might save you from a scam

The most common reason why people need to sell their house is because they are faced with mortgage payments that they cannot keep up with. If this is the case with you contact your lender for advice. They are obliged to at least consider your requests to change the way the mortgage is paid. A common solution is changing the time of the mortgage payment. This might save you from selling your house at  a price too low or being ripped off.

Should you give it a chance nonetheless?

If you are still thinking of working with a quick sale company you should ask yourself the following question. Is selling your house more important than getting the best available price? If you answered yes then you must be willing to receive less than 75% of your property’s current value.

Being in a position where you need to get rid of your property quickly is difficult, but the trouble you can get into when choosing to work with a quick sale company can be even more difficult.