If you’ve been driving around in Northern Kentucky, chances are you’ve seen some billboards advertising companies that buy houses.
Often times they say things like “We Buy Northern Kentucky Houses!” or “Cash For Your House”.
Are These “We Buy Houses in Northern Kentucky Companies” Credible?
How do I know if the local house buying companies out there are honest and credible?
At first glance, all these companies may look the same, but sometimes there can be some glaring differences hiding below the surface. Below we’ll discuss a few things to look for in a local house buying company.
Buying and selling houses is a valid and respectable profession that can help communities and house sellers in many ways. However, just like any profession, there are bad players, and these people make the real professionals look bad.
There are people who are really great, ethical folks who improve their neighborhoods one property at a time.
Then, there’s dishonest people who put profits above their morals. These people will do just about anything to make another dollar.
Yes, they are out there.
We’ll help you avoid these “shady house buyers” so you can work with honest, ethical, and reputable local companies who can buy your house for a fair all cash offer and 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 Northern Kentucky House Buyers Are Doing
- Helping folks improve their lives by accessing the money they need quickly.In certain situations, especially foreclosures, people are struggling with their finances and need a quick solution to correct their money problems. We can make that happen in just a few days, and we deliver peace of mind.
- Helping sellers get rid of a burdensome property without the hassle of having to list it with a broker, deal with picky buyers, make improvements, and wait months for a sale.
- Creating local jobs.We hire many contractors in the process of rehabbing a home, such as plumbers, electricians, etc. We also hire 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 Northern Kentucky KY.
- Buying US products.We spend a lot of money buying materials, materials that are made right here in the USA. We help fuel the economy when we do this.
- Increasing the value of Northern Kentucky neighborhoods. When we improve a house, we’re helping to increase the value of the entire community. We often repair abandoned and neglected houses, turning them into beautiful homes for families. That activity strengthens Northern Kentucky.
Some people may see house flippers as the get rich quick kind of people, but it is anything but that. House flipping is a job just like any other. 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.
Many house flippers are just average people trying to live the American Dream and create a good living for their family. These people have realized that a typical job is not for them, and they want to work for themselves.
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 A Reputable Local House Buyer
When you talk with a local house buyer to potentially buy your house, ask them some of the questions 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 attempts to have you sign the deed (transfer of ownership) of your home at your home, rather than at a professional location such as a title company, beware! Most good house buying services will do the actual closing at a neutral third party location (e.g. a title company). Deed transfers can be complicated things ,and should only be done under the supervision of professionals
- Pressuring you into a fast closing – If a house buyer pushes you to sell your house and tells you you have to make a decision today, be wary. Most reputable house buyers will make you an offer and keep it on the table for a minimum of 2-7 days so you can make a decision. The reason why reputable house buying services such as us at Cristo Rey Investments, LLC put a time limit on our offers is that the market fluctuates and values can fluctuate week to week based on other home sales in the area. We buy multiple homes a month and by making you an offer, we assure you that the funds to purchase your house are ready and we will reserve that cash for a few days so that if you do decide to sell your house we can close on schedule. If you feel the offer is not a good fit for you, we will assign those funds to another seller to help them sell their home.
During your whole experience with any potential real estate professional, take your time to observe them and see what kind of feelings they give you? Most people can tell when someone is trying to take advantage of them. Trust your gut!
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 ask too many questions.
True investors who run honest and ethical Northern Kentucky house buying services, however, are building long-term businesses based on relationships and community development. A huge key to success in Real Estate is working with true professionals, the better the professionals are, the better your experience will be.
Something I personally look for in a professional I am considering working with, is shared values. I like to find out why they do what they do. I want to find out if they’re heading in the same general direction as me. By this I mean, are they trying to do the right thing? Are they aiming for the good? Do they want to create a win win situation? This isn’t a requirement for everyone I work with, but when it comes to someone I am trusting any big part of a real estate transaction to, I look for these answers. For many people, their house is their biggest investment, and they need to protect that.
So when you’re looking at one of the “we buy houses in Northern Kentucky companies“… never be afraid to ask questions!