Don’t Sell to an Ugly House Buyer without a Lawyer
In reading a recent article in the Washington Post titled, “Avoid a Scam: Thoroughly Vet Offers to ‘Help’ With Your Mortgage” I was struck by the fact that they were very slow to offer what should be the first piece of advice to potential home sellers.
When someone offers to buy your house from you unsolicited, or even when you have your house listed by owner and a company attempts to buy it from you, this is what you should do first.
GO LAWYER UP!
If they are truly a company, then they have a lawyer already and even by talking to them, you are putting yourself at a disadvantage. Level the playing field and get a lawyer before you utter another breath to them. They can promise anything to you that they like orally, but they are bound by nothing that is not written down in a contract.
So after you have a lawyer, be prepared to REQUIRE offers in writing. You should also insure that your new lawyer performs a due diligence on the company to insure that they are a real and legitimate company and not some pop up sham. The truth is, and its not mentioned in the Washington Post, that the average person can not tell a real company from a false company by reviewing their website or even visiting their office. Let the Pro’s handle this for you, especially if you are selling yourself with out the help of a realtor as you are even more likely to be targeted by crooks.
It does not actually cost that much more to get the help of an attorney for this type of vetting and negotiation. It might prevent you from buying some extra memory cards for your camera or even filling up your car with gas a couple times, but that is much better than costing you your home!
