Various real estate scams in Minneapolis
Real estate scams are prevalent.
If you are in the market for buying or selling a house in Minnesota, beware of the multitude of scams in the state. Be especially careful of any listings on Craigslist or Facebook Marketplace.
A lot of scams are targeted toward renters or people who are looking to buy a house. The online posting may be legit, but if the person who posted it requires a “deposit” right off the bat for any reason, it’s probably a scam.
Email scams involve hackers who send house sellers an authentic-looking email, usually with an email address that looks similar or identical to the one used by the seller's real estate agent or another legitimate party, asking the seller to wire money for fees or deposits. If you have any doubt at all about the validity of the email, contact your real estate agent or title company directly.
House sellers also need to be aware of “we buy houses” scams in Minneapolis.
Are cash house-selling companies on the up and up?
If you are thinking about selling your house in Minneapolis, you may be wondering if “cash for houses” companies are for real. Are they legitimate and reputable?
Most of these companies are fine, but there are swindlers in any type of business, and you need to know how to spot Minneapolis housing scams right up front so that you don’t lose time and money or become the victim of a “cash for houses” scam. According to the FBI, almost 14,000 people were victims of real estate scams or rental fraud in 2020.
How to avoid “we buy houses” scams
If you are selling your house in Minneapolis and want to do business with a reputable cash house buyer, be cautious when calling the numbers on those little signs you see posted along the street. Julie Terruso, an undercover reporter in Philly, called the numbers on 59 of these signs and out of that total, only 4 people would give her their real names.
Some investors who use that type of advertising may be legitimate, but it’s important to do your due diligence first and research someone you’re considering selling your house to. Make sure they have an online presence, good reviews, and a physical address. Be wary if they don’t want to meet in person. Also, note that some of the people who use the phrase “we buy houses” hope that sellers will think they’re working with We Buy Ugly Houses®. We don’t use those kinds of signs, so just be diligent when contacting potential buyers.
Be wary of buyers who want to buy your house sight unseen.
A legitimate cash house buyer will inspect your Minneapolis property before making you an offer. They need to know the condition of your house and will look at your HVAC system, foundation, roof, and any repairs and updates that will be needed. Avoid any house investor who does not come to your house in person. Otherwise, you could find yourself the victim of “cash for houses” scam.
No serious investor would buy a house without looking at it. If a buyer is acting too eager to buy, be careful. It’s very suspicious behavior and underhandedness may follow, with you becoming an unfortunate victim of Minneapolis property fraud or various swindles.
Be careful what you are signing, and don’t be rushed.
Don’t be pressured into signing any documents. If a potential Minneapolis buyer is acting a little intimidating and pushy, it’s time to step back and reconsider who you are dealing with. This person may be involved in real estate fraud.
Don’t allow a buyer to rush you, and never sign anything you haven’t personally read and don’t completely understand. If you feel uncomfortable signing a document or contract or don’t fully understand it, have a trusted person look it over with you.
This is especially true if you are facing foreclosure. Underhanded swindlers know that you are especially vulnerable at a time like that. Hastily dealing with an unknown buyer may result in you becoming a victim of one of the Minneapolis foreclosure relief scams out there. Instead, Contact We Buy Ugly Houses®, and we may be able to stop your foreclosure.
We Buy Ugly Houses® is a trusted and reputable cash house buyer.
We Buy Ugly Houses® has been in business for more than 25 years. As our happy and satisfied sellers attest, we have an easy and streamlined selling process and a reputation for honesty and support, resulting in a 95%* customer satisfaction rating.
We buy houses “as is” in Minneapolis, meaning you don’t have to make any repairs or even clean the place up. Contact us for a free, no-obligation consultation with one of our local Minneapolis property specialists. We’ll meet you at your house, take a tour, and answer your questions. We can often give you a fair cash offer that same day. If you accept our offer, we can frequently close in as little as three weeks.
We are known for our honesty, support, and transparency. With We Buy Ugly Houses, you can rest assured that you’ll be walked through our streamlined process step by step. We work with you, knowing that each seller and house is unique.
Give us a call at 866-200-6475 to sell your house to a reputable and trusted cash house buyer.