Chances are pretty good that you’ve seen billboards with advertisements for companies that buy houses for cash while driving around the city of Raleigh in NC.
Often times they will say things like “We Buy Raleigh Houses!” or “Cash For Your House Fast”.
Are The We Buy Houses Companies Really Legit?
“How do I know if the local house buying companies out there are honest and credible?”
Well… sometimes they all look the same at the start, and there are so many to choose from. How do you know which ones are trustworthy and honest? Below we’ll walk you through some things to look for in a local house buying company before you begin to work with them.
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 – a small percentage of house buyers in any market are the ones who make the rest of us look bad.
There are really great and ethical people out there who truly want to improve their neighborhoods one property at a time.
On the other hand, there are the shady, dishonest people who put profits far ahead of the well being of their clients to the point where they would sign the contract to sell their own 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 unfortunately.
We’ll help you avoid these “shady house buyers” so you can work with honest, ethical, and reputable local companies. These companies will actually follow through with what they say they will do. This means that they can and will buy your house for fair prices and will 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 House Buying Companies Are Doing in Raleigh
- They help people improve their lives by giving them the opportunity to access the money they need right away. People often need the cash that is stuck in their house to cover unexpected medical expenses, or to relocate to be close to a relative. We can make that happen in a matter of a couple of weeks or even less. The end result is we are able to deliver peace of mind.
- They help sellers get rid of a burdensome property without the hassle of having to list it with a broker and wait months for it to sell.
- They help create 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 Raleigh NC.
- 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 Raleigh neighborhoods. When we improve a house, we help the community by increasing their home values. We often repair abandoned and neglected houses turning them into beautiful homes for families. That activity only strengthens cities like Raleigh, our local market.
- 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 on a daily basis is actually 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 Local Reputable House Buying Companies
When you contact a local house buyer who shows interest in buying your house, we recommend asking them some questions we have listed below to ensure they’re reputable, knowledgeable, and honest.
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 tell tale signs of tactics that those few shady operators tend to use.
- “Kitchen table closings” – If a property buyer tries to get you to sign the deed (ownership) of your house over to them at your house rather than a professional place like a closing attorney or title company, you need to remove yourself from that situation immediately. Most reputable house buying services will perform the actual closing of the sale at a neutral 3rd party place… like a title company. This ensures everything is done right and according to the law.
- Pressuring you into a fast closing – If a house buyer tries to pressure you into selling your house and says that you have to make the decision today, be cautious. Most reputable house buying services will make you an offer, and that offer will be on the table for at least 2-7 days (minimum) for you to make a decision. The reason reputable house buying services like ours at Narrow Path Investments, LLC do place deadlines on our offers is because the market changes and values can change week to week depending on other sales in the area.
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 want to take the time to ask questions and understand the process.
True investors who run honest and ethical house buying services in Raleigh, 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 Raleigh companies“… never be afraid to ask questions!