How to Sell Your Home Without Being Scammed

How to Sell Your Home Without Being Scammed



When buying or selling, there is always a risk of getting scammed. After all, it is a way of making money, and, unfortunately, that’s what the market is about. While there are obvious ways of scamming that come with online purchases, it is harder to spot scammers when it comes to the housing market. On its own, selling a house can be an overwhelming task, which is what any fraudulent business thrives on. Once a scammer distracts the seller, he or she can add all sorts of hidden expenses, put pressure on you to hurry the process. And before you know it, the house is gone, and so is most of your money from the sale. Sadly, there is very little we can do to stop frauds from operating. But what we can guarantee is that you won’t fall for any of their tricks after reading this article.

Be Careful When Using Email

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Modern House by Monovolume

When selling a house, it is usual to pass contracts back and forth between the real estate company and your buyer. But did you know that some scammers might be sharing your documents without your permission? They could be disclosing your price limits to lined-up buyers and playing both sides in exchange for a higher commission from the buyers. Even worse, these contracts often contain sensitive information that you most certainly do not want roaming around. To avoid such a thing from happening, use a more secure platform to share real estate contracts, and prevent the unwanted circulation of data.

When you have to use email, there are certain precautions you must take. For example, make sure that the email address you’re communicating with is related to the people you are in business with down to the last underscore. Some people might take advantage of your inattention to details. However, you’ll only find out that you’ve been communicating with the wrong address after you’ve already given them everything they need. So, while emailing, make sure you know who is being CC’d in the emails and watch out for any sudden changes.

See Also: Selling Your House? Here Are 3 Ways to Make It More Attractive to Buyers

Keep an Eye Out for The Fine Print

When anticipating scammers, the golden rule is that if it’s too good to be true, it probably is. When selling a house, you’re already expecting less than market value. However, many fraudulent investors take advantage of that fact, and they put their spin on it. On the one hand, they offer a low price that you think is good enough. On the other hand, the folks at SocalHomeBuyers.com explain that you should expect to be charged for repair costs.

If we look at the full picture, they pay you a lower price than what is on the market, and they ask that you cover repair costs, too. It sounds crazy at first. Why should you be paying if you’re the one selling, right? It’s about how good they are at convincing, and they are. If you find that a buyer keeps asking for additional charges, you shouldn’t stick with them. Remember, the reason you’re getting paid a lower price than what you should be is that the buyer has already factored in the repair rates. In short, the offer they make should cover all finances.

See Also: 5 Tips to Maximize Your Home Value When Selling

Do Your Research

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House with two bay windows by D’Arcy Jones Architects

The best way to avoid getting played is to know the game and the players, too. How do you do that? With the internet as your trusty aid. You can access all the documents, regulations, and law directories you need with the click of a mouse. Not only that, but you can also lookup investors and real estate companies to see if they have a good reputation among their clients. Make sure you visit their website to get a general feel of the company. Also, check for client reviews from other sources in addition to their website, like social media accounts, for example. Additionally, use your circle of family and friends to source information on the real estate company.

See Also: 6 Residential Architecture Trends That Help Sell Your House Fast

To wrap it up with our fourth and final tip, while knowledge and a generous dollop of skepticism will help you a long way, one thing you should never ignore is your gut instinct. How many times have you met a person who was well-liked by most, but because of a bad feeling, you kept your distance? How many times were you right about such a person? It’s the same logic. Sometimes our survival instincts alarm us to some potential threats. In such a situation, do yourself a favor and don’t ignore that little voice inside you.