5 Lessons Learned:
2 weeks ago admin Comments Off on 5 Lessons Learned:
After listening to stories of fake cash home buyers, you may be worried sick and not sure whether to hire a realtor or sell your home for cash. Allow your friends and family to refer you to reputable cash home buyers as your first precaution. Never agree to verbal agreements because you need evidence the transaction hence put in in witting. Cash home buyers who want to scam you use these lies.
People have been scammed because scammers made them excited and encourage them into signing the sale and purchase contracts without giving them time to evaluate their decisions. The scammers will find so many excuses to give you when it comes to payment because they will pay you less the amount of money that you bargained for without consulting you. You will have other option than to dance to their music because you they have evidence that you signed the sale and purchase agreements which will be a disadvantage to you in court. After agreeing on the purchase price, demand that the buyer give you two percent of the purchase price as the earnest money payment to avoid getting scammed in such an awful manner. Earnest money payment will prove to you how serious and honest they are with the transaction because this payment is made for the seller to hold the property for the buyer.If the buyers have no money, they will not be able to raise the earnest money payment, and that will be your wake up call. Demand that the buyer completes the reaming amount within four or five days or you will refund the earnest payment and sell the home.
Some scammers have resorted to equity skimming. The scammers promise to pay after you transfer the deed because they want to swipe your equity. Look into the eyes and tell them that you were not born yesterday. The scammers will either resell the home, secure a loan with it or rent it out to make a profit out of it without bothering to pay you. You will be left with the responsibility of paying the loan to save your credit score or lose your house because the house was under your name when the scammer was securing the loan.
The bait and switch is an old trick that scammers use over and over again. The scammers are confident and luring with the aim of winning the trust of the buyer because they act professional, will come to inspect the home and present an offer to you.
You will not realize the small changes that the scammer will make in the contracts of sale and purchase to steal from you once they have your trust because that trust will make you assume to go through the contracts keenly. Look for a referring lawyer to review the documents and go through them too then sign them before your lawyer.
Not all foreign cash home buyers are scammers, but some have faked the ascent or are truly foreign scammers. If your home has been listed online, be ready to get scamming emails and calls from foreigners who claim to be interested in buying it for cash. Do not give them details of your bank account because they want is to steal the money from your account using online means.