Selling your home without a real estate agent can feel like a liberating process. While you are able to avoid many of the complications and fees which come with dealing with an agency, this process also leaves you more vulnerable to scammers. While you likely have a good idea of what your home is worth on the open market, there will be many people who will look to intentionally mislead you. Since these people are aware that you are selling without an agent, they will attempt to target you with the assumption that you will be uninformed and defenseless. In order to help you avoid the real estate frauds of the word, below are 5 important ways to protect yourself against scammers.
Have Your Home Appraised
Since you are undertaking the task of selling your home without a real estate agent, you must have a firm idea of your home’s features and value. While having this idea certainly helps, it is important to have your home professionally appraised so you can be confident in your asking price. One of the most popular scamming techniques in the real-estate industry is convincing an independent buyer that their home has a fatal flaw which will make it unsellable on the open market. After convincing the buyer, the scammers then make a ridiculously low offer to “take the home off your hands.” By understanding the true market price of your home, you can easily avoid these scams and move on to a real buyer.
Establish a Minimum Asking Price
After having your home professionally appraised, it is important to establish a minimum asking price in your head and sticking to it during the closing process. Since scammers are always looking to obtain a home for the lowest price, they will say and do anything to convince that their offer is appropriate. By establishing a firm price in your head, you can easily dismiss those who attempt to go beneath this figure. While your advertised asking price may be higher for negotiating purposes, it is important to always know exactly how much you want for your home in your head.
Identify Your Buyers
Real-estate scammers are typically very experienced with the process and look to take advantage of unknowing homeowners. During the process of selling your home, it is important to quickly identify your buyers and understand exactly why they are in the market for your home. This could be as simple as having lunch or an extended conversation with the person to discuss their personal life, family, and career ambitions. Be wary of people who are not forthcoming with their reasons for wanting your home. These kinds of people are more than likely scammers looking to obtain your home and quickly sell it for a large profit.
Do not Deal with Low-Ballers
By establishing a minimum asking price and identifying your buyers, you should be able to conduct business with people who truly understand the value of your home. If someone ever tries to offer you an insanely low price, at any point in the process, simply move on from this person and attempt to find another potential buyer.
Research Real-Estate Scamming Techniques
Scammers and con-artist will say and do anything necessary in an attempt to unfairly obtain your home. In order to stay up to date with their techniques, you might find it necessary to research the latest real-estate scamming techniques. This information will help you understand exactly what to look for while selling your home and prevent you from becoming a financial victim.
Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-701-2030 or visit https://josephlewkowicz.com/