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Selling Your House For Cash: 3 Types Of Investors To Beware [210]

Selling your house for cash is a great option for homeowners in need of some quick cash, or those desperately looking to get rid of a property. Real estate investors promise a quick deal i.e. they’ll buy your house in 2 weeks or less. You’ll be paid in cash and have the luxury of not spending a single penny on repairs or cleaning. But not all real estate investors are alike –there are scammers who give the industry a bad name. Here are three types of investors you should avoid:

• The popular real estate investor:

This investor has advertisements aired on national and local television channels. He is the one you’ll find on sponsored programs explaining how easy it is to sell your house fast for cash. He is usually a part of a national franchise. The problem here is that this real estate investor won’t know about your local area. These companies have headquarters in remote locations and operate through franchises. Prices are often quoted over phone and based on rough real estate price estimates. There’s little or no negotiations over price even though your house may be worth more. Selling to a local real estate investor is a safer option. He or she is likely to know the true worth of your place.

• The too good to be true investor:

Real estate investors base their offer price on property rates around your neighborhood, the condition of the house, and the amount of work required on the house. There are too many scammers out there who promise to buy your house at market price (or probably higher than market rate) but reduce the price at the last minute. If you are in a desperate situation, you may have to cave and accept their offer. Before getting into business with this sort of investor, be sure to read reviews.

• The investor with too many conditions:

Some investors tie sellers into a contract preventing them from selling their house to anyone who might have a better offer. ‘Can I sell my house fast?’ Yes, but you’ll likely be at the wrong end of the bargain. Some investors bother sellers with multiple visits. And some bother you with so many questions that you’d rather sell it through a realtor.

To avoid being scammed, make sure to read reviews about the ‘we buy houses for cash’ investor you’re considering.

Author Bio : The Author is a real estate investor managing a ‘we buy houses for cash’ business in Milwaukee.

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