We Buy Ugly Houses Scam
There are many in the real estate business who attempt to ride the coattails of HomeVestors, better known as We Buy Ugly Houses. They use similar names in order to use the branding power that is already instilled by We Buy Ugly Houses.
Home sellers should be wary, though. HomeVestors has trademarked its brand since 1996, and also began opening franchises throughout the country. Those who own franchises are obligated to take part in a training course and live up to the ‘systems and standards’ put forth by HomeVestors. That being said, those who attempt to use variations of these trademarks do not abide by the same business practices as official franchise, and are being somewhat dishonest in using another company’s marketing materials.
It can be difficult to find out these businesses though. If home sellers are approached by these businesses, they should take precaution and do thorough research. First off, check out their website. It will be pretty clear by the theme and layout of the site whether or not they are associated with HomeVestors.
Checking out any advertising they do is also beneficial. Some would-be real estate investors place signs throughout neighborhoods in which they want to do business. Not only is this an environmental hazard, it is illegal.
Another way to approach this is by seeing what kind of offer they make. It may be difficult to assess the situation if the property in question is under distress, but it might be easy to find out whether they are legit or not. It is important to be realistic. If the offer is too good to be true given the current market, or they lowball in a major way, they are probably not legitimate.
If you want to call HomeVestors, their phone number is on their site. There are also individual phone numbers on all the local franchise sites. This can help expedite the process to find out what is really going on. It is important to know who you are actually dealing with.
In the end, scammers may seem like nice every day real estate professionals. It is not that simple though. It is hard to think one would want to do a huge piece of business with someone who is knowingly deceives potential customers from the get go. Like in other business markets, cutting corners is not the right way to do things. Be careful to not get involved with these alleged real estate professionals.