The biting economy has left many people on the brink of foreclosure. Homeowners are experiencing challenges meeting their mortgage payments forcing lenders to repossess so that they can recover their money. It is also because of this problem that many companies posing as home investors are on the rise some just to take advantage of a desperate homeowner
While not all home investors are fake, there is a number who are just existent online to make money and disappear; therefore, it is critical as a home owner to ensure that you do your research, so you do not fall prey to this con artists.
This article will highlight some warning signs that you are dealing with a fake company.
A company that is asking you to pay a fee so they can talk to your bank.
This technique used by many fake companies but as a homeowner you should know that no one can negotiate with your lender on your behalf except you, most importantly this can be done for free. Unless you are doing the negotiation with the company that will refinance you, it is an absolute no.
A company that asks you to surrender your deed so that they can help
This tactic although obvious, some people may still fall for this. Even if you are desperate do not consider such an idea instead insist on using the proper and legal means such as seeking for legal advice, if they disappear you have your answer. As a homeowner make sure you transact with care especially if you want to sell your property. The only time you can give off our deed is either to your lender or after receiving a cash payment.
The company is evasive on the paperwork
Now, this should make you think twice even if the company is reputable and has good reviews; they should allow you to confirm that everything is in order before you can sign. If a company wants to hide some details from you deliberately, it is time to look the other way because you might unknowingly be granting someone a right to your house.
Kitchen table signing
It is the most common way in which desperate home sellers are conned. Scammers take advantage of the fact that you need cash quickly, therefore, can even give you fake papers to sign. Therefore always insist on signing before an attorney and have the documents checked by an expert.
Before selling your house, make sure you do your research, ask as many questions as possible to establish whether they are real or just posing as ‘we buy homes‘ companies. Do not let yourself fall into the trap of unscrupulous people. Always conduct business with only people you trust and if you have second thoughts about it just back off.
Remember it is your property, therefore, do not let such scrupulous dealers force you to do things you feel uncomfortable with, go with your pace and if it does not feel right, it may not be. Listen to your instincts.