If you have ever driven around Philadelphia, I'm sure you have seen signs advertising companies that buy houses.
These signs usually say something like "We Buy Philadelphia Houses!" or "Cash For Your House".
Are these "we buy houses in Philadelphia companies" credible?
How do I know if the local house buying companies out there are honest and credible?
Sometimes, all of these companies look the same in the beginning, but keep reading and we'll walk you through some things to look for in a local house buying company before you begin working with them.
Buying and selling houses is a valid and respectable profession. It helps communities and house sellers in many ways. However, just like any other line of work, there are some house buyers in any market that can make the rest of us look bad.
There are many outstanding individuals in this profession that are extremely ethical and they improve their neighborhoods one property at a time.
Alternatively, there are some shady and dishonest people that put money ahead of the well being of their clients. These individuals engage in many unethical practices without the regard of others just to make money.
We can help you avoid these type of individuals so you can work with honest, ethical, and reputable local companies who can buy your house for a fair all cash offer and close on your schedule.
Let's discuss what the best house-flippers and rehaber are doing.
What Reputable Philadelphia House Buyers Do
- Help customers improve their lives by accessing the money the need right away.
People often need cash to cover unexpected medical expenses or to relocate to be close to a relative. We can make that happen in just a few days and we deliver peace of mind.
- Help sellers get rid of a burdensome property. We eliminate the hassle of having to list it with a broker and wait months and months for a sale.
- Create local jobs. We hire plumbers, contractors, electricians, brokers, tile reps, loan officers, administrators and many other folks along the way. The average real estate transaction involves 86 people from start to finish. Our investments help create real jobs for people around Philadelphia, Pennsylvania.
- Buy US products. We spend tons of money on materials that are made right here in the USA - that creates jobs in our timber mills, factories, supply shops, distribution centers and more. The US economy depends on steady improvement, and that requires investment from folks like us.
- Increasing the value of Philadelphia neighborhoods. When we improve a house, we're helping to increase the value of the entire community. We often repair abandoned and neglected houses, turning them into beautiful homes for families. That activity strengthens Philadelphia.
- Increasing the tax base. When a new buyer takes over one of our properties, they'll pay a higher tax rate based on the new and improved value. Those taxes go to pay for our schools, fire, police, libraries, streets and other valuable pieces of infrastructure. Again, improving our neighborhoods.
Lots of people think of house-flipping as a get-rich-quick scheme. That's fueled by silly "reality" shows that create drama, because the reality of what we do an a daily basis is actually pretty boring.
Most of our work is coordinating with lots of people to make sure things are happening on time. We have to keep track of many moving parts.
So, lets get back to how you can use this information to find out if someone is a credible investor, and not just pulling a house buying scam.
How To Ensure You're Working With A Reputable Local House Buyer
When you talk with a local house buyer to potentially buy your house, ask them some of the questions below to ensure they're reputable, knowledgeable and honest.
Ask open-ended questions like:
- How do you help your clients?
- What do you do for people?
- Can you tell me more about your services?
- What aspect of your business makes you the most proud?
- How would you describe your investment philosophy?
- How can I know that you'll close on my house when you say you will?
Second, look for tell tale signs of tactics that those few shady operators tend to use.
- "Kitchen table closings"-If a property buyer tries to get you to sing the deed (ownership) of your house over to them at your house, rather than a professional place like a closing attorney or title company, be leery. Most reputable house buying services will perform the actual closing of the sale at a neutral 3rd party site, like a title company. This ensures everything is done right and on the up and up.
- Pressuring you into a fast closing.-If a house buyer tries to pressure you into selling your house and says that you have to make a decision to day, be leery. Most reputable house buying services will make you an offer that will be on the table for at least 2-7 business days. The reason reputable house buying services like ours at Holmes Property Firm do place deadlines on our offers is because the market changes and values can change every week depending on other sales in the area. Also, we buy multiple houses a month and when we make you an offer we're assuring you that the cash to purchase your house is ready and we'll reserve that cash for several days so if you do want to sell your house, we can close on your schedule. If you fell the offer isn't a fit for you, then we'll assign those funds to help another seller with their home sale.
Most scammers are looking for a quick score, and not an in-depth interview.
Chances are good that they'll find excuese to get off the phone and move on to someone who doesn't ask too many questions.
True investors who run honest and ethical Philadelphia house buying services, however, are building long-term businesses based on relationships and community development.
So, when you are looking at one of the "we buy houses in Philadelphia companies", never be afraid to ask questions!
Give us a call anytime at (267) 223-7891 or fill out the form on this website today!
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