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Who is behind those mailings about buying properties?

On Behalf of | Mar 8, 2023 | Real Estate |

If you own real estate, ads from curious buyers might frequently arrive in your mail. You are likely wondering about the nature of these potential purchasers.

The answer is that these are untrustworthy actors looking to dupe unsuspecting sellers. Several revelations are worth knowing about these increasingly frequent solicitations.

How do these offers work?

Shady organizations know that people are often desperate to unload their properties. Sometimes, people own more than one home. Extra maintenance costs and property taxes can motivate people to sell fast.

Tricksters look for vacant buildings, knowing the owners might make a rash decision. Homeowners in a financial pinch are open to almost anything they can get, especially when a cash offer is on the table.

Unscrupulous buyers present purchase and sale agreements that are significantly below market value. After everyone signs, these scammers have a legally enforceable document. P&S in hand, they will demand the issuance of a deed at a later date.

How should you react to these offers?

There are steps you can take to reduce undesirable mail. Unfortunately, it may be impossible to end these specific appeals. Every time a request arrives, do not take its presence lightly. Tear it up immediately to prevent the possibility of victimization.

If you wish to put a home on the market, hire a professional with experience in appraisals. Avoid pursuing a recommendation that comes from the buyer or works with the buyer. Instead, do some independent research and find someone on your own.

A property is a valuable asset. You deserve as much as possible if you choose to sell. Watch out for deceitful entities that want to rip you off.

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