The search for a real estate investor to help you sell your house in a hurry should include scrutiny as there are scam artists out there more than willing to take advantage of sellers in distress.

Selling a House Fast – Haltom City TX The common phrase used when it comes to consumerism is of course, ‘buyer beware!’ In the case of a home seller that is approached by a real estate investor the phrase becomes ‘seller beware’ as there is a large and growing number of scam artists out there willing to confuse you and grab the title to your house, leaving you holding the debt with no repayment made, or leaving you with the debt you originally sold to avoid, and the investor is long gone with your money.

Much like bogus credit collectors that set up shop in every state and simply move and change their name when caught, scam artists are popping up all over the country that are posing as real estate investors.

Much like bogus credit collectors that set up shop in every state and simply move and change their name when caught, scam artists are popping up all over the country that are posing as real estate investors. They approach homeowners that are behind in their mortgage payments, or have been listed in public records as losing the home due to foreclosure proceedings. They may offer to help with creative solutions that are confusing, seem too good to be true, and they usually are.

Real estate investors are upstanding members of the real estate community. Many of them have other professions but simply want to own real estate as an investment. Wholesalers find properties for investors to buy, and work between the seller and the buyer, neither of whom may be savvy in real estate law and how sales should go. They will rarely contact a seller. The seller contacts them and asks for an offer on their house. There is no obligation, no pressure, and the investor or investor representative should be willing to explain every single aspect of the transaction until the seller clearly understands the process.

  • They approach homeowners that are behind in their mortgage payments, or have been listed in public records as losing the home due to foreclosure proceedings.
  • They may offer to help with creative solutions that are confusing, seem too good to be true, and they usually are.
  • There is no obligation, no pressure, and the investor or investor representative should be willing to explain every single aspect of the transaction until the seller clearly understands the process.

Unethical scam artists, however, are in the habit of using public records to find ‘victims.’ They may approach you and offer to take over your payments with the lender. You then pay them, sometimes at a reduced monthly payment and they ‘send your payments on to the lender.’ The situation there of course is that the investor takes your monthly payment and the lender never sees it. The next communication you may get from the lender is the eviction notice. Another scam is to convince you to turn over your title to them, then renting from them. That allows you to stay in the house with the option to re-buy it from them when you get back on your feet. They can then turn around and sell it from under you. You turned over the title to the property! Be sure of whom you are dealing with when you are looking for an investor. Reliability, community history, and a real office with real people to talk to are essential.

Filed under: House Selling