If you’ve been driving around in Houston, chances are you’ve seen some billboards advertising We Buy Houses in Houston companies.
Often they say things like “We Buy Houston Houses!” or “Cash For Your House”.Many companies in Houston buy houses. Some of them are credible, while others may not be. In this article, we will thoroughly explore this topic.
Are These “We Buy Houses in Houston Companies” Credible?
Many companies in Houston buy houses, including property investment companies and real estate consultants. Here, how do I know if the local house-buying companies out there are honest and credible?
Most of the time they all look the same… but below we’ll walk you through some things to look for in a local house-buying company before you work with them.
As we know, buying and selling houses is a valid and respectable profession that can help communities and house sellers in many ways. But just like any other line of work – the least number of house buyers in any market are the ones who make the rest of us look bad.
Some people are great, ethical folks who improve their neighborhoods one property at a time.
And then there are shady, dishonest people who put money ahead of the well-being of their clients and who would sign the contract to sell their grandmother with one hand while stabbing you in the back with the other – as long as they were making enough money.
Yes, they are out there.
We’ll help you avoid these “shady house buyers” so you can work with honest, ethical, and reputable local companies who can buy your house for a fair all-cash offer and close on your schedule.
But let’s not focus on the negative – at least not yet.
First, let’s cover exactly what the best house flippers are doing.
What Reputable Houston House Buyers Are Doing
- Helping folks improve their lives by accessing the money they need right away. People often need the cash in their house to cover unexpected medical expenses, or to relocate to be close to a relative. We can make that happen in just a few days, and we deliver peace of mind.
- Helping sellers get rid of a burdensome property without the hassle of having to list it with a broker and wait months and months for a sale.
- Creating local jobs. We hire plumbers, contractors, electricians, brokers, title reps, loan officers, administrators, and many other folks along the way. The average real estate transaction involves 86 people from start to finish. Our investments help create real jobs for people around Houston Texas.
- Buying US products. We spend tons of money on materials that are made right here in the USA – that creates jobs in our timber mills, factories, supply shops, distribution centers, and more. The US economy depends on steady improvement, and that requires investment from folks like us.
- Increasing the value of Houston neighborhoods. When we improve a house, we’re helping to increase the value of the entire community. We often repair abandoned and neglected houses, turning them into beautiful homes for families. That activity strengthens Houston.
- Increasing the tax base. When a new buyer takes over one of our properties, they’ll pay a higher tax rate based on the new and improved value. Those taxes go to pay for our schools, fire, police, libraries, streets, and other valuable pieces of infrastructure. Again, improving our neighborhoods.
Pretty cool stuff, right?
Lots of people think of house-flipping as a get-rich-quick scheme. That’s fueled by silly “reality” shows that amp up the drama because the reality of what we do daily is pretty boring.
Most of our work is coordinating with lots of people to make sure things are happening on time. We have to keep track of lots of moving parts.
So let’s get back to how you can use this information to find out if someone is a credible investor, and not just pulling a house-buying scam.
How To Ensure You’re Working With A Reputable Local House Buyer
In Houston, numerous companies engage in the purchase of houses, and while some are reputable, others may not meet the same standards. It is crucial to conduct thorough research before selecting a company to collaborate with. Here are some valuable tips to aid you in evaluating the credibility of a company:
- Check the company’s reputation: Begin by investigating the company’s reputation. Peruse online reviews and ratings to gauge the experiences of previous clients. Additionally, consult the Better Business Bureau to ascertain whether any complaints have been lodged against the company.
- Verify the company’s credentials: Before making any commitments, ensure that the company is duly licensed and insured. You can validate this information by consulting the Texas Real Estate Commission to confirm their licensing status.
- Ask for references: A reputable company should readily provide you with references from previous clients. Speaking to these references can provide valuable insights into the company’s track record.
- Exercise caution with upfront fees: Exercise caution if a company requests upfront payment of fees or commissions. A legitimate home-buying company typically does not require any upfront financial contributions.
- Thoroughly review the contract: Before appending your signature to any contract, meticulously review and comprehend all the terms and conditions. Clarify any doubts or concerns you may have before finalizing the agreement.
Ask open-ended questions like:
- How do you help your clients?
- What do you do for people?
- Can you tell me more about your services?
- What aspect of your business makes you the proudest?
- How would you describe your investment philosophy?
- How can I know that you’ll close on my house when you say you will?
Second, look for telltale signs of tactics that those few shady operators tend to use.
- “Kitchen table closings” – If a property buyer attempts to have you sign over the deed (ownership) of your house at your residence, as opposed to a reputable location like a closing attorney’s office or a title company, exercise caution. Trustworthy house-buying services typically conduct the actual sale closing at an impartial third-party location, such as a title company. This practice ensures that all procedures are executed correctly and transparently.
- Pressuring you into a fast closing If a potential house buyer pressures you into making an immediate decision to sell your house, exercise caution. Reputable house-buying services typically provide you with an offer that remains valid for a minimum of 2-7 days, allowing you ample time to consider your decision. The reason reliable house-buying services, such as The Aida Group, may include deadlines in their offers is to account for the dynamic nature of the real estate market. Property values can fluctuate from week to week based on recent sales in the area. We purchase multiple houses each month, and when we extend an offer, it signifies our readiness to provide the necessary funds for your house purchase. These funds are set aside for several days to accommodate your preferred closing schedule. If you decide not to proceed with the offer, we allocate those funds to assist another seller with their home sale.
Most scammers are looking for a quick score, and not an in-depth interview.
Chances are good that they’ll find excuses to get off the phone and move on to someone who doesn’t ask too many questions.
True investors who run honest and ethical Houston house-buying services, however, are building long-term businesses based on relationships and community development.
So when you’re looking at one of the “we buy houses in Houston companies“… never be afraid to ask questions!