If you’ve been driving around in Akron, there’s a pretty good chance you’ve seen signs advertising companies that buy houses. Maybe you’ve even received a post card in the mail, or seen an ad on google or Facebook.
They might say something along the lines of “We Buy Akron Houses!” or “Cash For Your House As Is”.
Are These “We Buy Houses in Akron Companies” Credible?
So, you want to sell your house for cash, but how do you know which companies are credible?
House flipping is a respectable business that adds value to communities, gives work to small business owners and contractors, and results in updated homes that people want to live in. The reality is, a lot of cash for houses companies are run by honest, hard working people who take pride in their reputation and want to do what’s best for their clients and the community. Unfortunately, there are those out there that operate under shady principals and only care about making as much money as possible for themselves. These companies may be in the minority, but they give everyone in the industry a bad rep. It’s important when you are going to do business with a company to do your due diligence and see who it is that you’re going to be working with. In short, you want to make sure they are credible and are actually going to be able to purchase your house for cash if they say they will.
Before we dive too much into the shady companies that are out there, let’s cover exactly what the best house-flippers are doing.
What Reputable Akron House Buyers Are Doing
- Helping People Get the Money They Need Right Away. People who want to sell their house for cash often need to get the money quickly. Whether that is so they can relocate to be with a loved one, pay off a medical expense, or avoid foreclosure. Whatever the reason, we can make that happen in just a few days, and this gives the seller peace of mind for a guarantied sale.
- Helping sellers get rid of a property without the stress and hassle of having to list it with a broker, and go through the process of fixing up the property, staging the home, going through several showings, and so on and so forth. Sometimes people just want to sell their house and move on without a lot of fuss and waiting around.
- Creating local jobs. Believe it or not, we hire a lot of people to help us do what we do. Plumbers, electricians, painters, contractors, title agencies, notaries…the average real estate transaction involves 86 people from start to finish. Our investments help create real jobs for people around Akron Ohio.
- Buying US products. We are consistently spending money on products made right here in the USA – that creates jobs in our timber mills, factories, supply shops, distribution centers and more. Our investments help fuel the economy with regular spending on the material we need to fix up houses.
- Increasing the value of Akron neighborhoods. When homes are abandoned or uncared for, this hurts the surrounding neighborhoods. No one likes to live next door to a boarded up house with high grass. A lot of time we are working on houses that are in disrepair and making them safe a beautiful spaces for families to live in. This activity improves property values and strengthens the neighborhoods in Akron.
- Increasing the tax base. When we fix up a property and the value of that property is improved, it generates a new tax base. Those taxes go to pay for our schools, fire, police, libraries, streets and other valuable pieces of infrastructure. Again, improving our neighborhoods.
Pretty great stuff, huh?
Sometimes people have this idea that flipping houses is a “get rich quick” scheme. If that’s you, you might have seen one too many episodes of HGTV. Most house flippers work in volume, and complete lots of projects for bits of profit. The drama on these reality tv shows is just that – drama to get you to keep watching.
Most of our day to day work is really coordinating with lots of different people to make sure that everything is happening as it should and on time. Along with managing projects of houses we are working on, we are marketing to find new projects and guiding closings to make sure transactions are happening seamlessly. There are a lot of moving parts and a lot more to the business than just picking out new paint and cabinets for the houses you’re working on.
Now that you know what a legitimate house flipper does, here’s how to make sure you’re working with one and not just a house buying scam.
How To Ensure You’re Working With A Reputable Local House Buyer
When you are talking to a local house buyer, get to know them a little bit!
Ask questions like:
- Where do you operate out of?
- What projects are you working on?
- Can you tell me more about your services?
- What title company do you work with?
- What is your investment philosophy?
- How can I know that you’ll close on my house when you say you will?
You should also take a look at the business as a whole. Are they accredited with the Better Business Bureau? Do they have any reviews or references? Are they willing to meet with you in person or facetime? A legitimate homebuyer won’t be turned off by your questions. They know that you are looking for an honest solution and just want a credible company to buy your house. A scammer, on the other hand, will probably become uncomfortable with this amount of probing.
Things to watch out for:
- “Kitchen table closings” – Most times reputable house flippers use a title company to make sure everything with the closing is professional and “on the up and up.” Sometimes a quick claim deed can be done, but this would be completed by a professional real estate attorney. Either way, there will be a third party entity taking place in the closing. A closing wouldn’t just be between you and the buyer without any others involved.
- Pressuring you into a fast closing – Reputable house buying companies aren’t going to pressure you into a fast closing. Yes, we can close quickly, but it shouldn’t be an issue if you need more time. This is our business and we are in it for the long game. Scammers are only interested in a quick score. Be leery if someone is using high pressure tactics and pressuring you to close quickly, especially if there’s no title company involved.
True investors who buy houses in Akron care about their reputation and want to build quality relationships that are going to benefit their customers, their business, and their communities.
When you are looking into “we buy houses in Akron companies” don’t be afraid to ask questions!