Don’t be confused by Imposters and We Buy Ugly Houses Scams –There is only one We Buy Ugly Houses company.
We Buy Ugly Houses® is a registered trademark of HomeVestors of America, Inc. Dallas-based HomeVestors®, the #1 buyer of houses in the U.S., was incorporated and began franchising in 1996.
When you deal with a HomeVestors franchise, you know the company has checked out the franchisee. Each franchisee must adhere to the company’s “Systems and Standards.”
If someone is using the trademark and is not a HomeVestors® franchisee, you may want to consider whether you should trust them in other matters.
Like any other strong, national brand, there are many people in markets across the country that try to “steal” and compromise the HomeVestors brand. There are many good, reputable real estate investors. There are also a few unscrupulous individuals that will try to take advantage of people.
With HomeVestors franchises, you know you will get a fair offer based on the market conditions and the condition of your house.
How do I spot and avoid Scams?
A. Check out the company
Many times people who experience ugly situations, such as divorce, a death in the family, or have serious medical issues, may need to sell their house fast which may also make them more susceptible to scams and unscrupulous people. That is why it is important to check out the company if you intend to do business with them.
1. Is the company a legitimate company, or just a graduate of a seminar that wants to get into buying houses? The fact is, many people claim to be real estate investors, when in fact they may have never bought a house before. They may not even be able to get a loan to buy the house.
2. Is this a real company, or simply a Lead Generation “virtual” company? With the internet today, there are a lot of companies that exist only online. If you respond to that company, the lead is sold to the highest bidder.
B. Check out the advertising
Bandit signs. Many seminars teach the new students to put signs up on stakes in all the intersections around the area they want to buy a house. In most cities, these signs are considered environmental pollution and are illegal.
What does that tell you about the company? If a company does not have the money to invest in legitimate advertising, will they have the money to actually close on your house?
C. How do I know if the offer is fair?
This is one of the challenges when you are in a distressed situation.
You may need to sell the house fast but you would like to get the most you can for your house.
A professional investor will know your market. They will take into account the time it will take them to fix up the house to sell it. They will also have to adjust for repair issues.
D. Is the Offer “too good to be true?”
Then it probably is. A professional works hard to create a “win win” for all parties. This means the offer has to be fair for both parties.
This means that they will make an offer that they can live with, and will be ready to actually close on the property.
Some unscrupulous investors will make an offer that is higher than any investor. They will then take weeks or months trying to “sell” the house to someone else.
If they cannot, what do you think happens? They will not close on your house.
This means in a few weeks, or even months, you will be right where you started – except you will have wasted a lot of time, and probably money also.
Then, will you be able to find someone to make a fair offer?
It is surprising how many times a HomeVestors franchise will have one of these investors “outbid” on a house, only to have the homeowner call weeks or months later when the investor could not or would not close on the deal.
E. Deal With Professional Real Estate Investors
The best way to protect yourself is to deal with experienced real estate investors.
They may not make you the highest offer, but it will be a fair offer. And, they will be able to perform – when it is time to close, they will close on the property.
F. How To Find These Professional Real Estate Investors
The easiest way is to call HomeVestors.
Each Independently owned and operated franchise has been checked out by the company.
You can trust HomeVestors to do what they promise they will do!