Before explaining how to spot a “We Buy Houses ripoff,” legally, we must tell you that not all cash home buyers or companies that buy houses for cash are ripoffs or scams. Generally, if a property investment company is a registered LLC or Corporation that advertises “we buy houses cash,” “cash for homes,” or “sell your home fast for cash,” they are not going to scam or deceive you. It is very difficult for a registered corporation or a “We Buy Houses” LLC to defraud someone. To create a corporation or an LLC, you must register your company and pertinent information with the Secretary of State in which the company was created in and the IRS. Because of this, it is very difficult for fraudulent “We Buy Houses” ripoff or scams to exist.
Before doing business with a company that advertises “We Buy Houses Cash” or “Sell My House Fast” make sure they are a legitimate company. For starters, most “We Buy Houses” ripoff attempts occur when homeowners find themselves behind on mortgage payments and decide to call a phone number listed on a bandit sign that is nailed to a telephone pole or stuck in the ground at a busy intersection. Legitimate companies that buy houses for cash do not post bandit signs and will not place illegal signage alongside the road at a busy intersection. For starters, the best way to avoid a “We Buy Houses Ripoff” or “We Buy Houses Scam” is to never call a “We Buy Houses Cash” or “Sell You House Fast For Cash” phone number that is listed on a bandit sign and posted alongside the roadway or nailed to a telephone pole. Not only are bandit signs a huge eye sore, they are also violating Ohio state law and local ordinances.
