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?
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.
If the property is within Illinois, you can try heartlandbuyshouses.com for a hassle free sale.