Avoiding Scams: How to Spot a Fraudulent Home Buying Company

The Role of Home Buying Companies

Buying a home can be an exciting and daunting time in any individual’s life. The first task is to find the perfect property, and then come the negotiations over price and other details before finally signing that all-important contract.

It may sound like a straight-forward process, but in reality there are many risks awaiting those who choose not to explore their options carefully. Foremost among those risks is that of being scammed by false or fraudulent home buying companies. Read more here https://www.atticushomebuyers.com/.

Here are a few tactics that you should look out for:

Never Pay Upfront Fees

A real estate company will never ask you to pay any upfront fees in order to participate in a home buying scheme. These are among the first warning signs that you are about to encounter a scam. Most reputable companies will give you a clear idea of any fees you need to pay, usually in the form of a simple breakdown before the purchase. Real estate agents work on commission and you are only required to pay these fees once the deal is closed.

Beware of Unsolicited Offers

It is always best to keep an eye out for unsolicited offers from home buying agencies, as these can be used to trick unsuspecting members of the public into parting with their hard-earned money. With that said, you should also be wary of unsolicited offers from home buying companies – simply because these may be genuine offers from other businesses.

If you receive an unsolicited offer from a company and it seems like something you’d like, follow the instructions given to acquire more information and talk to a realtor about your options.

Use a Locally Based Company

Reputable local companies will always be more reliable than those based out of state. However, there is no guarantee that simply because a business name is local, it will be legitimate. To get around this problem, you should look for companies that are members of the National Association of Realtors (NAR). This means that the company has gone through a vetting process and its trustworthiness has been established.