Are Home Buying Companies Legitimate: Red Flags to Look Out For

While working with a home buying company can make selling your home less daunting, are home buying companies legitimate?  This post will take a closer look at house-buying companies, weighing how viable an option they might be for a home seller.

What Is a Home Buying Company?

House or home buying companies are businesses that buy homes directly from you, saving you from the painstaking process of listing your house on the market.

They are various types of home buying companies, each with varying methods of purchasing your property. They include:

  • Franchise cash buyers: These types of house-buying companies are those that pay cash for your home.
  • House flippers: These companies buy ugly houses, renovate them, and sell them for a profit.
  • Buy-and-hold: A buy-and-hold real estate investor will purchase your home and rent it out to tenants instead of selling it.
  • Trade-in companies: Trade-in home buying companies will provide you with the cash you need to purchase your new home, depending on your current property’s value.

Are Home Buying Companies Legitimate?

There is nothing illegitimate about home buying companies. However, the real estate market can get complicated, and there are more than a few unscrupulous characters.

It is always best to do your homework before working with a home-buying company. There are several red flags you should look out for when trying to determine how legitimate a house-buying company is.

As a general rule, avoid working with companies that:

  • Propose verbal agreements instead of written ones
  • Have several negative reviews
  • Offer inflated repair deductions
  • Want you to sign official documents without seeking legal or third-party advice

Are There Benefits to Using a Home Buying Company?

The short answer is yes. While there are certain shady companies, home sellers can enjoy several benefits when they work with a professional house-buying company.

For instance, one main benefit is the transaction’s speed. Selling your home is usually a lengthy process that includes repairs, vacating the house during showings, and waiting for the buyer’s mortgage process. Working with a legitimate home-buying company eliminates these steps.

Other advantages of selling your home to a house buying company include:

  • Less strict inspections
  • Cash offers
  • Flexible closings and move-out dates
  • Simpler, more straightforward process
  • Quick closings
  • It helps you avoid a double moving process or double mortgage

Legitimate Home Buying Company in Wichita, KS

Selling your home can be a frustratingly painful and lengthy process. However, working with us allows you to enjoy the quick resolution you desire and deserve.

Professional Home Buyers buys your house as it is, saving you the trouble of completing repairs and renovations. We make cash offers and provide quick closings, reducing the hassle even further.

Are you asking yourself, “How can I quickly sell my house in Wichita, KS” or “Are home buying companies legitimate?”

At Professional Home Buyers, we buy houses for cash, helping you complete the transaction in days. Call us today at 316.217.9532 to get started.

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