Avoid scams by choosing
reputable real estate investors / companies.
There are many scam artists out there that are taking advantage of the
home sellers living in distress situations.
With a nationwide
trend of difficulty in any circumstance comes the advent of scam businesses
that want to jump on the opportunity to separate you from your money and your
property. The worst part of this is the
situation you may be facing, the stress your entire family is under, and their
ability to take advantage of you in your weakest and most vulnerable moments.
Many families are
happy to hear from an “investor” who wants to buy their house. The ads come in the mail, they come by email,
and they may visit your home and knock on the door, just as friendly and
accommodating as you might imagine a con artist to be. They offer to help you get out of your
financial difficulty by taking the home off your hands or making some other
slick arrangement.
Sad
Truth About Real Estate Scams
The sad truth about
many of these scams is that they look good to you and give you a big sigh of
relief, but you may be asking for even more trouble than you already have. Some popular scams are called contract bait
and switch, which involves the buyer giving you a verbal version of a contract
that you can easily live with. He comes
back in a few days with a ‘formal, legal version’ which has been altered and
not what you had agreed to verbally.
Another involves
the investor getting the deed to your home. He allows you to stay in the home (which is a
no-no), which sounds good, and you pay the mortgage to him. He isn’t paying your mortgage with the money,
however, and may be taking loans against the property, or uses your equity to
buy himself some things, leaving you with the mortgage unpaid and he with the
deed.
Another scam is the
Liberian FSBO, or Nigerian Scam. Someone
out of the country offers to buy your house for cash. All he needs is the account number for your
bank so he can ‘transfer’ your funds to your account. Guess what comes next?
So
What Can You Do?
Do your homework. It’s
easy today with the internet. Research
who you are dealing with before you commit to anything. Google
the investors name and their company name, check the BBB
web site, check with the local Chamber of Commerce etc. and see what comes
up. You can also ask for references or testimonials
from past customers and lastly, do not do anything that isn’t clearly in
writing. Read the contract close, ask
for clarification, and if you’re not comfortable, pass and don’t sign the deal.
TMC Property Solutions is a Veteran
owned and operated Real Estate investment company and has been helping families
with their difficult real estate situations and selling their houses FAST for more than 12 years around the
Dallas and Fort Worth Metroplex and can help you as well. For more details visit us online at www.IBuyNorthTexasHomes.com or
call our assistant 24/7 at (817) 550-5069 for your free consultation. We’ll need some info from you about your
house and situation and we’ll call you back and explain how we can help
you. Everything will be explained in
detail and in writing.
Together, We Can
Create Your Solution!
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Tim Cook
TMC Property
Solutions
1706A Santa Fe Dr
Weatherford, TX 76086
(817) 599-8058
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