Be Wary of Investors Offering High Prices

April 14, 2011 - PRLog -- We Buy Houses PA: Real estate investors are, for the most part, people who want to buy houses at a discount as an investment. They need to pay a discounted amount for the property because they are not planning to live in it; they wish to use it to make money. The typical real estate investor might give you 70 to 80% for your house according to the current market value.

If you are offered much more than that, it’s not because you have an awesome and attractive house. They may be getting ready to scam you. Some investors will offer you a high amount, like 85 to 90% of the market value when they contact you. Given the reason investors buy property, it doesn’t make sense for them to offer you what they could get for it when they try to sell for a profit.

Houses are going for about 90% of their current market value in today’s market trend. If someone offers you the same amount and will close quickly, be suspicious. A traditional sale takes months with offers, counter offers, and lenders involved. In some states there’s escrow to deal with. It doesn’t make practical sense for someone buying your house for a discount to offer you the same as what a traditional sale would get you.

The game is for the unscrupulous investor to offer you a fantastic amount for your house. Knowing you are desperate to sell due to foreclosure or other situation, they can get your interest by offering you a large amount, then finding reasons to drop their offers to a lower amount at the last possible minute, which would leave you in a bind if you don’t accept.

The homeowner that falls for the scam is often unable to do anything about it as they have run out of time and will be foreclosed on. The investor trying to buy the house is taking advantage of the seller’s desperation. It’s too late to decline the offer and try again elsewhere.

If this sounds familiar to you, decline the offer and call another legitimate investor. You will be offered a reasonable and believable amount for your house. You’ll be able to see where and how they can make a profit after closing with you. That will make sense. There are many real estate investors that operate with integrity and ethical standards. Find one and get a reasonable offer for your property.

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