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10 Ways to Avoid Being Scammed by Real Estate Investors Amarillo TX | 806-359-7653

Well another big Real Estate Investor seminar has blown through Amarillo.  I always cringe when I hear their advertisements that promise to show people how to ‘get rich flipping houses with no money down.’  Now it won’t be long until we have a whole new wave of so-called Real Estate Investors. These people do not have the money to buy your house but they have just enough training to look and sound like a real investor.  I can tell you right now that you do NOT want to get involved with this type of person.  No wonder Amarillo Real Estate Investors get a bad name.

So how do you know which company to work with?  You have got to make sure that you are selling your house to an established, reputable company.  You need to make sure that they have the funds available to close and that they do indeed plan to close on the house themselves.  Make sure that they aren’t trying to sell their contract to another investor.

Here are the top 10 ways to avoid being scammed:

  1. Deal only with local companies.  This makes checking up on a company much easier.  I personally would never deal with someone who wasn’t local.
  2. Ask for and call references.  A good company should have plenty of satisfied customers.  I can give you a list of references a mile long.
  3. Check with the Better Business Bureau.  Just because someone has a ‘we buy Amarillo houses’ ad doesn’t mean that they are a real company.
  4. Insist on using a local title company.
  5. Meet the person face to face if possible.  There are too many scams out there.  Meeting face to face makes it much harder to be scammed.
  6. Ask lots of questions.  Don’t take anything for granted.
  7. Have a local attorney review the contract if anything looks suspicious.
  8. Don’t work with anyone who wants to put a sign in your yard and sell your house to someone else.  That is just ridiculous.  If you were going to do that you should have just called a Realtor!
  9. Ask for at least $500 in earnest money and a short closing date.
  10. Do not sign a contract with a long option period or a long inspection period.  Anything over 5 days should be a red flag.

It is important to remember that not all Real Estate Investment companies are bad.  When we write a contract on a house, we intend on closing that deal.  We have the funds available to buy it.  Sometimes we even advise people to do something besides selling us their house.  We have to live and work here in this community with the same people we help.  We are very much a local company.  People can stop by our office for a cup of coffee anytime.  But the bottom line is that our deals close on time.  We do what we say we’ll do. That’s why we are still in business.  We can give you dozens of references.

 

If you have a house to sell in Amarillo or Canyon,  give us a call.  We would be happy to make you an offer.  You can call us at 806-359-7653. You can also visit us online at Amarillo Real Estate Investors.

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4105 SW 34th St, Amarillo, TX 79109 | 806-359-7653

wade@mitchellpropertygroup.com | emmy@mitchellpropertygroup.com