In this article today I would like to talk about several tips, tricks, and techniques that just about everybody can use to help sell their Sell my home fast without getting taken advantage of.
Buying and selling a house are two of the most important and significant things most people will do in their lifetimes. So much of our savings and so much of our potential future income is wrapped up in the purchase or sale of our houses that it becomes incredibly important not to get taken advantage of throughout the process.
In this article today I’m going to talk about several things that a seller should look out for when selling their house. Many of these things will signal that the person buying the house may be up to something shady.
The first thing to watch out for is a buyer who wants the purchase of your house to be contingent on the sale of their old house. Many buyers will try to slip this in, but you don’t have to go for it. Why is this such a bad idea? What if you agree to this clause and then the buyer can’t sell their old house? You are no longer able to sell your own house in the meantime which means you’re now responsible for selling two houses – not just one. This can be a nightmare and it’s just better to not have to deal with it at all.
The next thing to watch out for is a buyer who wants to put up a smaller deposit then you require, or no deposit at all. You should really just walk away from this sort of situation because if somebody hasn’t put up much of a down payment or no down payment at all, they may very easily just walk away. I mean, why not? They’ve got nothing to lose and in the meantime your house is tied up and you can’t sell it to somebody else who may be interested and ready to buy.
The next thing to watch out for is a buyer who wants you to offer them financing. What this means is basically that you will give them their mortgage, not a bank. This technique is popular with late-night real estate infomercials. Basically you agree to accept the monthly payment from the new purchaser and if any time they fail to make a payment, you get your house back. Because of this, it may be enticing to go along with this sort of scheme but believe me when I tell you that if you don’t have any experience in this sort of thing, you are much better off passing and waiting for somebody to buy your house who has a real mortgage from an actual bank.
Finally, watch out for people who have no loan pre-approved. It can be common to simply put a mortgage contingency clause in the agreement but that can be a hassle too. If the housing market in your area is strong, it’s better for you just to pass and wait for somebody else to come along who already has financing in place.
So there you have several very simple tips, tricks, and techniques that you can use to make sure you don’t get taken advantage of by an unscrupulous buyer when you sell your home.