For some home sellers, taking a cash offer for their home can sound appealing. But how do you know if this is a legitimate offer or a scam?

To help you navigate the muddy waters of what is real and what is not, here are some tips to keep you safe and aware of what is and isn’t legal before selling your home for cash.

Your Home Isn’t for Sale, But You’re Receiving Phone Calls from People Offering to Buy It for Cash

If your home is not listed for sale, but you’re receiving phone calls from people offering to buy it for cash, it could be a scam.

In addition, solicitation can also come in the form of letters and text messages as well.

Most of the time, these requests are coming from:

• Investors
• House Flippers
• Home Scammers

The majority of these people are trying to take advantage of you.

It will seem like they’re doing you a favor. But in reality, they trick you into believing the amount of cash they are offering is higher than what your home could sell for, banking on the fact that you have no idea what your home is worth.

Instead, they offer you less money than you could have gotten if you put it on the market. This often happens to elderly people and people who don’t know their home’s value.

Even if your home is up for sale, beware of these solicitors.

Be smart by knowing the value of your home, doing your homework, and assuming everyone is guilty until proven innocent. The smartest thing is to consult with a real estate expert if you are entertaining the idea of selling your home.

Playing the Hero Game; Friendly and Costly Cash Offer Scams

People soliciting you with a cash offer try to play the hero and treat you like you’re a friend. They “just want to help,” they say. This red flag could cost you everything, including your home.

These scammers usually go after retired seniors whose homes are in foreclosure or have too many repairs to list the house for sale. If you or someone you love falls into this category, beware of the hero scam.

A psychologist and professor at Scripps College in California, Stacey Wood https://www.scrippscollege.edu/academics/faculty/profile/stacey-wood, says, “ I see these scams a lot when I investigate elder abuse and exploitation cases.”

If you are interested in selling your home, her best advice to protect yourself from these scams is to call a professional real estate agent before you do anything.

You will get the same, if not more, money when you leave it to the professionals to do things the right way and keep you protected.

People soliciting you with a cash offer try to play the hero and treat you like you’re a friend. They “just want to help,” they say. This red flag could cost you everything, including your home.

These scammers usually go after retired seniors whose homes are in foreclosure  [link to foreclosure hotlist proctor page] or have too many repairs to list the house for sale. If you or someone you love falls into this category, beware of the hero scam.

A psychologist and professor at Scripps College in California, Stacey Wood [link to this page https://www.scrippscollege.edu/academics/faculty/profile/stacey-wood], says, “ I see these scams a lot when I investigate elder abuse and exploitation cases.”

If you are interested in selling your home, her best advice to protect yourself from these scams is to call a professional real estate agent before you do anything.

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