Hello, I am a seller and I’ve been contacted by different investors and a broker group. I don’t know what their goal is or what tricks I should watch out for. I’m pretty vulnerable in the process. I don’t have the experience. Am I a target for being low balled? Is that their specialty. I don’t really know if talking with them is a waist of time, because I want the highest and best price for my property.
What tricks do I need to be aware of? What are the red flags?
Thanks.
Where is your property located ?
Do you have an idea of what the worth of your home is (like with zillow or trulia)?
Are you selling yourself or through a realtor?
Do you have an asking price in your mind?
Are you working through an escrow? Escrow will make sure you get paid for signing away your property?
How much are you familiar with home selling/buying process and terms like earnest money,
contingencies and liquidated damages?
You can always reject an offer to purchase if you do not like the price offered or conditions.
Selling a home is not a very difficult process. If someone (investor or individual) is contacting you, you can always ask them to make a written offer and have it vetted through a realtor or a real-estate lawyer (about $350/hour).
Engage an experienced realtor to represent you and handle the transaction. They charge you a commission - typically 5% of sales price. But it is worth paying the commission to avoid some of the red flags and traps you are correctly apprehensive about
Try shopprop.com. I recently used them to buy and got the best rebate compared to anywhere else. For selling, I believe they have better deal too. I can text you owner ph no if you want.
Industry has changed so much. I did not even know a site like this even exist.
When selling, identifying red-flag buyers is crucial to avoid potential issues. Here are some key signs to watch for:
Unusually high offers: Buyers offering significantly more than the asking price might seem appealing, but they can back out later or cause complications.
Vague communication: Buyers who are slow to respond, provide incomplete information, or avoid answering specific questions could be problematic, indicating a lack of commitment or interest.
Rushing the process: A buyer who pressures you to close the deal quickly without proper inspections or due diligence may be trying to hide something.
Payment issues: Be cautious of buyers who delay payments, request unusual payment methods, or provide incomplete financial details.
Lack of clear intent: Buyers who seem undecided or keep changing their requirements can cause unnecessary delays or fail to follow through on the sale.
Always trust your instincts and ensure all transactions are well-documented. If you ask me as a regular property investor and a lnadlord, i prefer a reliable real estate agent such as Open House Lancashire they can work for you which will help you attain the best deals!