Sometimes, circumstances require you to sell your house for cash if you are in an immediate need of it. It may seem like a daunting task to many since getting the right price for your house and making a good sell can be a tricky business. However, worry not; we are here to help you with all your house selling issues. When selling a home for cash, many people are afraid that they could get scammed or cheated. Scammers and other such individuals plan tactics that are easy to fall into; their behaviour may not even look odd to you if you are new into selling property.
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So here we have prepared a guide to end all your worries. We have highlighted and explained in detail all the important things you need to keep in mind before selling a house for cash.
- Check Refund
Most of the times, when you want to sell a house for cash, the buyer may deposit a check in your favour, and if after some time, the buyer may not wish to purchase the house, he or she will ask for a refund. If you refund the check, you must make sure that the check is carefully cleared so as not to lose your own money. This requires a lot of attention and care.
- Online Communication
Internet crime and scam is very common and you need to be very cautious about it. You may receive an email and the person may sound very credible as well making it all the more easy for you to fall into the trap. They may even send you documents that look credible to increase their credibility. However, in situations like these, it is highly recommended that you make sure that the money is in your account before you provide any refund of the payment. Also get the documents that the buyer sent verified in order to ensure that a safe transaction is taking place and the buyer is a credible person or agent.
- Suspicious Behaviour
It is highly recommended that you remain aware of any behaviour that seems suspicious. It is normal for any buyer to negotiate the terms and the price quoted before finally agreeing on something. However, if the buyer does not show any intention of negotiating for a lower price, and doesn’t even try bargaining, then there is a high chance that a scam is about to take place. In such situations, you should remain observant and keep an eye out for such frauds..
- Suspicious Cash Payments
Sometimes, legal authorities require that you report to them of any cash payments made that are above $10,000. This is because at times this cash is generated through activities in the black market, that is, through illegal activities. So if you receive a suspicious payment, you must immediately report to the legal authorities to avoid any problems there. Such a cash payment can also get you into trouble and you may have to let go of it.
- Buyer does not Visit the Property
Sometimes, you will be contacted by buyers who depict strange behaviour. They may agree to buy your property without demanding to see the house first. This is not normal. Usually, buyers would want to see your house a couple of times before they plan to purchase it. It is a huge property that they are going to invest in, not a mere everyday commodity that you would purchase without thinking twice. So if your buyer does not wish to see the house before agreeing to purchase it, there is probably something fishy going on. It is suggested that in situations like these, demand more identification documents from such buyers to establish their credibility and further proceed with extreme caution.
Selling a house for cash is probably a difficult task considering the risks involved; however, we hope that our guide will help you sell your house for cash without any hassle or problem. Just make sure you have some sort of identification for the buyer and you are confident about the deal.
Christina Lara is a well-researched blogger who has researched the property market of Atlanta, Georgia and provides the best real estate advice. Here, she has prepared a guide of important things to watch for before selling a home for cash. Her client Hilary says, ‘We buy houses Atlanta, Georgia based for investment purposes and Christina’s advice has been invaluable.’