Recent NAR surveys show that 89% of house sellers and buyers hire real estate agents to avoid scams. Also, 90% of the buyers use the same agent repeatedly, and 87% of their sellers are the same. This shows that people have given up trusting each other during transactions. Sell House Fast in Pittsburgh has given some tips for identifying scammers here.
Aware of Impossible Offers
Identifying unreasonable offers is a crucial approach to escape from scammers. Scammers frequently tempt people with fake offers that are much bigger than other options available. For example, they can buy a house for more money when compared to other properties nearby. It might be appealing to accept at first, but you should be aware of this and thoroughly investigate before agreeing to any conditions.
Confirm the Buyer’s Identity
Sometimes, you might lose some better options because of wasting your time on such scammers. They might act like trustable agents. Avoid transferring money for any fee before the deal is accepted. Talk about everything prior, including your doubts and suggestions about the deal. You can verify the buyers’ names in public records. Also, you can enquire to the nearby real estate board.
Investigate the Buyer’s Background
To experience a smooth and secure transaction, sellers should verify the buyer’s background. This will help the seller learn about the buyer’s financial stability and credibility. Further, verify the buyer’s financial capability to afford the property. This will prevent risky deals. After thoroughly investigating the buyer’s background, the seller can protect themselves from possible dangers.
Avoid Delayed / Partial Payments
Accepting partial payments or delays in payments is a red flag. It might worsen the situation when the buyer cares less about settling the second half of the payment. Also, partial payments show the buyer’s lack of financial stability. Moreover, partial payments or delayed payments increase the vagueness of legal contracts. To avoid these issues, choose buyers you can trust.
Don’t Give Legal Documents
As a seller, you must keep the property’s original legal documents safe and secure until the deal is complete. Sharing the original legal documents with the buyer before closing the deal can be risky. If you fail to find the buyer is untrustworthy, they might use those documents to do something wrong against you. You only have to give the legal documents officially after closing the deal.
Hire a Trusted Agent
Agents have a network of contacts, so they can easily find out whether the buyer is trustworthy or if there is any negative aspect to that buyer. Also, agents have engaging and high negotiation skills. No one can cheat you when a real estate agent represents you in the transaction. Their expertise can help you get the best deal possible and avoid pitfalls. But the trouble here is they charge a lot as fees and commissions.
You must verify the buyer’s details before accepting the deal. Awareness of such scams is suitable for everyone looking to buy or sell. If you are a seller or individual looking to sell your house immediately, visit Sell House Fast in Pittsburgh. We are renowned cash home buyers in Pittsburgh with 100% successful deals. You can trust us!
