Insights from BEVA Homes

Are “We Buy Home” Companies Credible?

All around Dallas/Fort Worth, you have probably seen companies that buy houses in any condition and “For Cash”!

How do you determine if home buying companies have integrity and are legit?

We are going to help you review everything you need to know about when thinking about working with a home-buying company.

Usually, they all begin the same…but below we will walk through everything you would need to know if you are considering working with a “We Buy Houses” company.

Companies that buy homes provide a service to families and help communities in many ways. There are a small portion of those companies that make the rest of them look bad. The ethical and good people in the business are there to improve neighborhoods through rehabbing and rebuilding.

Those not in for the right reasons, put money above helping their clients. We want to help you avoid these types of “bad” home buyers and work with honest and reputable LOCAL companies. These companies will purchase your home for cash and are able to close on your schedule.

Let’s start with best practices of GREAT investors!

They help families by purchasing their home to get the money they need quickly. People often need cash for a variety of reasons. This can be from relocations, death in the families, or financial hardships. We can help in just a few days and help provide peace.

Unwanted properties that need to be sold. We can help purchase them without having to list it with a broker and see how long it takes to sell.

Create local jobs. Through the rehab of the distressed properties, we hire all kinds of contractors, plumbers, etc.

There is an increase in the housing value of the neighborhood. When a home is renovated in a neighborhood the home will sell for a higher value and increase the price per square foot for the neighborhood comps. This will also encourage other home buyers to want to come into the neighborhood and renovate homes in the area.

This work also increases the tax base. After a home is purchased, a higher tax rate is established. In turn, those taxes go to pay for schools, libraries, streets, police and fire.

When you talk with the home buyer that wants to purchase your home – ask them some of the following questions – this will help you make some determination about their intentions.

What services does your company provide?
What is your company philosophy?
How can I be sure that you will close on the agreed upon timeline?
Why do you want to help your clients?

NOW – let’s look for red-flags

If a home buyer attempts to get you sign the deed over to them rather than through the title company/attorney, this is a red-flag! Using the proper channels protects you!

You feel the pressure to sign and close quickly. If you are told you have to decide today, that is a red-flag! Most companies will make you and offer and expect that you are receiving other offers as well. They generally will give you up to a week to review and make a decision. Beyond the week, they will probably have to adjust their offer. The market is changing day to day and a reputable company will be focused on quality deals. They also are purchasing multiple homes at one time, so we reserve cash for each offer/purchase. If the offer is not the right one for your family, those funds will be released for the next offer.

Other red-flags will be home buyers not looking for in-depth interviews, they will find excuses to get off the phone, or slow to respond. Honest investors are building companies through relationship-building and community development.

So, if you are looking for a “home buying” company…ASK QUESTIONS!

We are always here to help answer questions even if the offer is not from us! Our organization focuses on quality over quantity.