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Fast Home Offer Scams

Fast Home Offer Scams

Fast Home Offer Scams

 

If you haven't come across at least one advertisement or billboard offering to buy homes quickly for cash, what we're calling fast home offers, then you must be blind—no pun intended. They are all over: if they're not offering “super-fast cash for your home” they're promising to “quickly buy your home in record time”.

 

Is it a wonder then that already countless homeowners have lost their homes to fast home offer scams, given the not so colorful economic and property backdrop? Probably not.

 

But what matters most is that YOU will not be a victim of any scam in your hunt for a fast home cash offer; what matters now is that YOUR home will not be handed over to a seasoned property thief, and you'll find out just how right here and now.

 

Particularly if you're looking to sell your house and much prefer the timely, quick cash home offers, then this might just be your guarantee for selling smart.

 

Why do homeowners choose to sell to fast home buyers?

 

Isn't it obvious? Here is a home buyer (most likely a real estate agent, salesman and aggressively seasoned at that) who's promising you:

  1. paid good-riddance - quick fast cash for your home on sale (let's not get started on why you're quick-selling in the first place, it's bad enough that you have to)

  2. convenience and hastiness with the cash-at-hand transaction (wouldn't you rather that than dealing with the State officials, financial institutions with all their paperwork and protocol in between?)

  3. money for your home in as little as even 2 weeks (and you're broke, bankrupt—name your fiscal problem here)

Even as we address the problem with fast home offer buyers—err—scammers, you still can't help salivating from that list of pledges...the things we do for money! Just take care not to become yet another statistic of homeowners who've been conned of their homes for a coin.

 

Why do fast cash home buyers choose to buy from these homeowners?

Now this is the part you're probably not going to like...but in the spirit of brutal honesty, here goes:

  • the lazy ignorant homeowner is a great target for fast cash home offer scams

    • because you know jack about the ups and downs of quick selling house for cash

    • because you couldn't care less to find out what you're losing (or gaining)

    • because you don't ask questions and take everything the scammer tells you as Gospel truth

 

  • the desperate and afflicted homeowner is perfect fodder for these quick cash home buyer scammers

    • because they're facing hard economic times and can't think of anything else other than “how to get quick money”...

    • because they're damsels in distress and when a knight in not-so-shining armor shows up with cash-in-hand (doesn't matter how much), there's the savior!

    • because they'd rather get rid of the house “quickly and quietly” without all the hullabaloo of home listings, without the publicized “shame in selling our house”, without the shenanigans (protocols and procedures) of dealing with government/financial institutions

 

  • the panicky speculator - the doom-seller homeowners cannot make better bait if not for their hysteria then for their extreme precaution; quick home offer scammers extend them cash offers:

    • because these panicky homeowners wake up one morning, turn on the TV and find of CNBC's M. Bartiromo midway into Closing Bell with a report of how some market shifts at Wall Street might affect the underwater housing market...and before they can process how/why that could happen, someone's already looking to sell their home for quick cash..

    • because the doom-seller homeowner ironically trusts the scamming fast cash home buyer so much up until the house is gone and they've been left high and dry (with a stash of “quick cash”—at least!) THEN and only THEN does the distressed, scammed homeowners go out looking for the experts and short sale home investors when it's too late for too little that can be done to save the situation

 

  • the KIY (Know-It-Yourself) homeowners can be a headache to deal with but fast cash home offer scammers love them:

    • because these KIY (Know-It-Yourself) homeowners have taken it upon themselves to turn this into a DIY (Do-It-Yourself) property market

    • because when they decide to quick sell a house, they do just that with confidence in their know-it-all; they'll figure they have to sell because the free realty software they downloaded, coupled with their own “personal market analysis” said so

    • because these KIY homeowners know so much yet so little about everything real estate, they know what they know and if they were to wake up and hear Maria Bartiromo hinting anything, these are the homeowners who go out rallying, sharing, blogging, warning other fellow homeowners: Hey did you hear...yeah man, we gotta sell before they come knocking... In reality, only the fast cash home buyers come a-knocking, and they, a-opening!

    • because after the 2008-2009 housing bubble and the consequent global economic meltdown, they've learned NOT to trust anyone who works with any financial institution lest they go all CDA and low-interest on them in the face of yet another imminent housing bubble ver 2.12 (yiepp, they can predict this too...)

 

Looking at it now, it makes so much more sense to have quick cash home offers scams, what with all the ignorance and desperation, many homeowners probably don't even know they were duped to this day.

 

Sad but true. Then again, this is not about sob stories and mistakes past...this IS about moving forward (cautiously and not precariously)...the what-nexts, hows and whens, whys and why-nots of fast home offers.

 

Be clear about your expectations and limitations – beforehand.

It's nice to know that property investors offering fast cash for homes actually mean well, who's to say when the promises uttered are so...promising, convincing?

 

Did anyone ask about what fast home cash offers DON'T promise? (None if any? It figures!)

 

Here is what you SHOULD'NT expect from a quick cash offer for your home:

  • don't expect a fair market value for your home (it's not even a fair market to begin with) and therefore,

  • don't expect a befitting asking price or selling price (think of it like selling your house at a garage sale... How are the prices there? What's the intent there?)

  • don't expect much guarantee on the validity of your home sale (when you're dealing with the quick cash home scammers and not the certified cash home investors)

 

And what about your limitations? What WON'T you be getting from a fast cash home sale?

 

  • You DON'T get to decide the selling price in a fast home offer, likewise you can't determine what your take-home amount will be:

  • there will be so many factors tugging at your bottom line asking price, you'll be very lucky if you can even give it a rough guess let alone speculate on your take-home cash-at-hand

  • (it doesn't matter if it has been home to yours and generations before yours, this one you've just got to take with a pinch of salt and lime)...

 

  • You CAN'T quite limit the fast cash home buyer's cut from the sale:

  • in fact, considering all the work that usually goes into a home after it's been bought on quick cash, you should know just how much you won't be getting by the time the home investor is done showing you their works

  • (depending on the developer buying the fast home offer, you could be looking at renovation, repairs and maintenance in the order of $100,000 for average middle class homes—go do the math keeping in mind not everyone will love your oriental DIY interior décor or that depressing color you painted your master bedroom walls)

 

Better to know you're falling than be in free fall when you think you're standing... At the end of the day, fast cash home offers offer just that—fast cash, quick cash...not much cash...(but CASH all the same? You're forgiven!)

 

 

NEXT: How To Avoid Fast Home Offer Scams




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