You know you’ve seen the signs along major highways that claim to buy homes for cash regardless of the condition. Companies that claim ‘we buy houses in North Port’ have gotten a bad reputation over the past few decades. Most people see them as a lower option in real estate or an option for people too desperate or poor to hire a real estate agent.
However, most of the misconceptions and myths surrounding real estate investors come from a few poorly-run companies in the industry and all investment companies aren’t like that.
They Are Scams
Yes, most people think that companies that advertise ‘we buy houses in North Port’ are trying to scam innocent homeowners. The misconception is that most people don’t know why these companies would want burnt-out homes, bug infestations, tenants that won’t vacate, and all the rest.
Of course, the scam misconception might also come from the fact that it sounds too good. If you don’t have to make upgrades and repairs, hold showings, hire agents, and deal with inspections, why would you? You could be done in a week and let some business owner/entrepreneur handle the rest.
Most of these companies are not trying to scam anyone, though scams do exist and you should learn about them to protect yourself from becoming a victim. Someone should always visit your house to evaluate it, they should never ask for money upfront, and they should always wait to give you an offer until after they’ve seen the house.
They Only Want Money
Money makes the world go round, so you can’t expect any business to give things away for free. House-flipping companies do want to make money and to do that, they don’t offer you full market value price of your home. It’s just like when you sell your gold to a pawnbroker; they give you what they think is fair, but you aren’t obligated to accept the offer.