When driving around DC’s neighborhoods, you might have seen signs or flyers stating “We buy houses in
Washington DC!” or something to that effect. They might also say “Cash for your house!” or
“Washington DC cash buyers!”
But are these companies legitimate and trustworthy? We’ll guide you through the steps to finding out
whether your local cash buying company is credible.
Some Cash Buyers are Just in It for the Money…
Unfortunately, there are some cash buying companies out there that aren’t trustworthy, and these
people give everyone else in the profession a bad rap. These shady, dishonest people don’t care about
homeowners’ needs and well-being. They only care about buying up as many houses as possible, and
they don’t care who they step on in the process. Here are some of the hallmarks of these companies:
-They pressure you into closing today (or ASAP)
Scammers will often pressure you and say you need to make a decision right now. These people
are running a get-rich-quick scheme and they want your house now—they don’t want to give
you time to second-guess your decision.
-They want you to sign over the deed onsite.
Reputable companies will take the time to make a fair offer and they’ll give you the space to
make your decision. They will then perform the closing at a neutral third-party place instead of
trying to make you close right then and there.
-They won’t take the time to answer your questions or help you with your needs.
A reputable company will be able to quickly, honestly and helpfully answer any questions you
may have. They will go above and beyond to answer all kinds of questions about financing,
moving, and more! They will gladly provide a variety of referrals and even provide you with
additional services (like taking care of your moving expenses). If your cash buyer doesn’t want to
waste their time helping you, then they might only be in it for the money.
Other Cash Buyers are Ethical People Who Want to Help People.
Thankfully, there are respectable, valid cash buying companies out there that are worth your time!
Honest cash buying companies want to help homeowners and improve neighborhoods. Their goal is to
take unwanted properties off of peoples’ hands with mutually beneficial agreements. Here’s what a
reputable cash buyer does:
-They help homeowners get rid of a burdensome property quickly.
Sometimes, property ownership becomes more of a burden than an asset, and you need to sell.
And, listing a property through a real estate agent might be too stressful or too time-consuming
for some sellers. In cases of inheriting an unwanted property, facing foreclosure, relocating and
needing to buy a new home and many other circumstances, getting cash for the property
quickly might be just what a homeowner needs.
-They offer a way to liquidize assets when people need money right away.
Unfortunately, when all your money is tied up in a property, it can be difficult to access liquid
money when you have unexpected medical bills or any other expenses to pay. Cash buying can
be a good solution when a homeowner is facing foreclosure. It’s also an option if your home has
already been on the market for a while but not selling. In these cases, cash buyers can help you
sell quickly so you can purchase your next home without worrying about paying both your
mortgages at once.
-They help to improve neighborhoods.
Vacant and neglected homes aren’t good for neighborhoods. They can even lower the value of
the entire community! In many cases, cash buyers are looking to buy unwanted, abandoned,
vacant or neglected houses as-is and bring them back to life, matching them up with a new
homeowner who will love the property. But at the same time, cash buyers will also buy your
home when it’s in perfectly good condition. This still improves your community by increasing the
tax base and feeding into the local economy. As the buyer hires plumbers, electricians,
handymen, contractors, title reps and other local small businesses, they’re stimulating the
economy and strengthening the neighborhood.
Finding a Reputable Cash Buyer—NOT a Get-Rich-Quick Scheme
Here are some questions you can ask any cash buying company. Listen for honest answers!
- How do you help your clients?
- What services to do you provide?
- What makes you proud about your business?
- What’s your investment philosophy?
- How will this transaction benefit me?
- How can I be sure you’ll keep your side of the deal?
Hopefully, this helps you weed out the scammers and find a reputable cash buyer who will give you a
mutually-beneficial deal. And, if you’re in DC and you want to learn more about our one-of-a-kind
services, give us a call today!