- With technology innovation and publicly available property information, Los Angeles real estate cash buyers and agents can reach you in many ways
- If you own a home in Los Angeles, then you probably have been inundated with phone inquiries to ‘SELL YOUR HOUSE’ because ‘WE BUY HOUSES ALL CASH’
- Consider the below tips below to determine if the caller is a legitimate all cash buyer or if their claim of “WE BUY HOUSES” is a scam
Today, real estate buyers and sellers don’t need to run around with a megaphone screaming ‘WE BUY HOUSES’ in Los Angeles. They have an edge over those who have gone through the process in the past due to advancements in communication technology and publicly available property information online. That said, if you own a house or apartment and a phone in Los Angeles, then you probably have lost count of the unsolicited phone calls — interrupting your day– asking if you are ‘SELLING YOUR HOUSE’ because ‘WE BUY HOUSES’ in Los Angeles. After you’ve determined that the person is not a scammer, you’ll want to figure whether you want to sell your house in Los Angeles and how you want to go about it with professional assistance.
Determine If It’s a Legitimate Professional Asking to Buy Your House
When you receive one of those cold calls from the WE BUY HOUSES guys and are actually interested in selling your house in Los Angeles, it would be wise to verify who is on the other end of the line. Keep in mind that in the process of verifying who the person is, you get to ask all the questions. The most important thing to remember is to not offer any of your own personal or financial information while you are verifying the caller and the company they represent or own.
Questions To Ask the Cold Caller
- Ask for their first name, last name, and company name (or brokerage)
- Ask them how they got your property information and telephone number
- Request a link to review their company website or Google Business listing
Follow-up Research To Qualify Your All Cash Buyer (or Agent)
- Review the website to look for the name and photo of the caller
- Review the website and/or Google Business listing for testimonials and reviews
- Perform and online search of the company name to see if it is a national or local company
By following the above tips, you can verify who the person and company is and what their experience might be to help you sell your house in Los Angeles. If there’s anybody cold calling you who is unable to answer the questions above, you have the right to feel uncomfortable with that. Buy or selling your house in Los Angeles is a big life decision, and anybody reaching out to you should be 100% in the business of earning your trust.
Categories of Real Estate Professionals Asking To Buy Your House in Los Angeles
As the amount of interest in buying your house in Los Angeles mounts and the number of cold calls stating WE BUY HOUSES increases, you the home owner will notice that there are different types of professionals on the other end of the line. Here the categories of real estate professionals for you to be aware of, so feel free to ask them which one they are:
- Flipper/Investor: This type of buyer is often times a cash buyer. Usually buys homes and property in as-is condition. The flipper puts money into repairing and upgrading the property, and puts it back on the market — in highly improved condition– for resale to make a profit. The property purchase process usually occurs in under 30 days and is funded with all cash or a hard money loan. The flipper/investor usually holds the property for 6 to 18 months to complete the project and sell the property.
- Buy/Hold Investor: This type of buyer is rarely a cash buyer. Usually buys homes or apartments in Los Angeles to rent out to tenants and hold it long-term. The property purchase process usually occurs in 1 to 3 months and is either funded with a bank loan or all cash, depending on the condition of the property. The buy/hold investor usually holds the property for 2 to 5 years, and often times longer.
- Wholesaler: This type of buyer often times partners with all cash buyers. Usually work in collaboration with flippers and buy/hold investors to find them property for acquisition, whether it is for a short-term project for a flipper or a long-term hold for a buy/hold investor. A wholesaler is instrumental to the both flippers and buy/hold investors because wholesalers are able to help homeowners in difficult situations or with difficult properties where a traditional sale might not be possible. The property purchase process usually occurs in under 30 days and is funded with all cash or a hard money loan.
- Realtor/Agent: Usually represent end buyers to help them find homes as primary residences or also investment properties. Realtors/agents earn commissions from successfully helping buyers and sellers by advising on the preparation of property for sale, marketing, and coordinating the transaction from beginning to end. A well qualified realtor can maximize the price a seller is looking to get for their house in Los Angeles. This is more of a traditional selling process which involves lenders, appraisers, and inspectors and usually takes between 2 to 4 months; sometimes, up to 6 months in a slower market with property in less ideal condition.
Regardless of which type of professional you choose, consider that working with a professional who is local to Los Angeles is probably better than someone on the phone who is in a completely different city or state. Buying and selling a house is one of the biggest steps you will take, so turning that cold call phone conversation into a physical human interaction would be the next way to increase your trust in the person and company.
Set Goals For Selling Your House in Los Angeles
When selling a house in the Los Angeles area, you will have many choices on how to sell your house. The path you take really depends on three factors:
- When do you need to sell your house? How big of a factor is time? Would you be okay if the house took an extra 2-3 months to sell? Are there any negative ramifications of not selling by a certain date?
- Is the house in good condition? Recently upgraded? Would you be willing to pay for some repairs and upgrades to make the house more desirable
- Are you expecting to get a market price for your house? If necessary, would you be willing to spend some money and hold onto the house for a few extra months to get the ideal buyer and get the highest possible price?
Depending on your goals, choose the right professional (type of buyer) to work with to achieve your goals of price, time, and convenience. As you field more of the cold calls and return phone calls, vet your professional carefully. Or reach out directly to Fair Sale Homes to discuss your home in Los Angeles and unique situation.
Multiple Ways Buyers and Agents Market to Home Owners in Los Angeles
In addition to cold calls, there are many perfectly legal ways that buyers and real estate agents in Los Angeles can either grab your attention or directly reach out to you. By being aware of all of them and knowing the right questions to ask you can ensure it’s not a scam and that your goals are being met.
- Text Messages: Message from a phone number you do not recognize
- Cold Calls: Telephone calls, often times from UNKNOWN Caller ID
- Bandit Signs: Bright yellow signs at freeway exist ramps, light posts, and front of houses
- Letters: Handwritten or typed yellow letters, often times with a business card included
- Post Cards: Promotional mail, often times with a photo of the buyer or agent
If you might consider selling your house in Los Angeles and are ready to learn more, we recommend that you follow the above tips and ask the right questions to ensure that the person or company looking to buy your house is a legitimate business looking to help you. It’s too much to sift through, feel free to discuss your options with Fair Sale Homes.
Why Choose Fair Sale Homes?
Using innovative technology and our vast experience in Los Angeles real estate, we are able to attain incredible results for our clients. We will not try to pressure you into one solution, option, or viewpoint. Instead, we will help you take an objective look at your selling options so that you can choose the one that is best for you. Whether you are buying or selling real estate in Los Angeles, Fair Sale Homes would love to help you achieve the best outcome possible.
Are you thinking about buying or selling a home in Los Angeles? Fair Sale Homes is actively helping buyers and sellers in Los Angeles. Reach out to Fair Sale Homes to learn more about the various options available to you. There is never any cost, hassle, or obligation to work together. We are happy to answer any questions you have about buying or selling real estate in Los Angeles whether or not you choose to work with our team! (626) 863-7006